Stocks to watch: Keppel Corp, Asia-Pacific Strategic Investments

THE following companies saw new developments that may affect trading of their securities on Thursday (Jan 5):

Keppel Corporation : The group’s offshore and marine (O&M) arm, Keppel O&M, has secured a S$130 million contract for the construction of a 600 MW (megawatt) offshore substation. The project is scheduled for completion in 2025, Keppel Corp said on Thursday. It is not expected to have a material impact on the group’s net tangible assets or earnings per share for FY2022. The counter closed 0.7 per cent lower or S$0.05 to S$7.22 on Wednesday.

Asia-Pacific Strategic Investments (AP Strategic): The hotel operator’s 78.5 per cent-owned subsidiary has proposed to dispose its stake in a hotel management company, as well as a hotel and its related assets, for 80 million yuan (S$15.6 million). The deal is subject to shareholder approval, which will be sought at an extraordinary general meeting to be convened. AP Strategic has lifted its trading suspension called on Dec 21, 2022, days after it called for a trading halt on Dec 16. The counter last traded at S$0.001 on Dec 9.