Stocks to watch: Keppel Corp, Golden Energy and Resources 

THE following companies saw new developments that may affect trading of their securities on Monday (Mar 6):

Keppel Corporation : Its property arm Keppel Land is divesting its full 100 per cent interest in a company that owns the right to build and operate a hotel in Myanmar. Keppel Corp on Monday said the cash consideration of US$57.4 million exceeds the company’s net asset value of US$43.9 million as at end-February 2023. Shares of Keppel Corp closed on Friday S$0.03 or 0.6 per cent higher at S$5.46.

Golden Energy and Resources (Gear): The coal producer is working to meet the conditions required to implement the proposed distribution in-specie of Gear’s stake in Indonesia-listed Golden Energy Mines, and the subsequent exit offer for Gear at S$0.16 per share. The company said on Friday that none of the conditions of the contentious transaction have been met. Shares of Gear ended at S$0.905, down 1.6 per cent or S$0.015 on Friday before the news.