Stocks to watch: Keppel, Frasers Hospitality Trust, HRnetGroup, AEM, Grand Venture Technology, Fu Yu, mm2 Asia
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Oct 6):
Keppel : Singapore has appointed a Keppel-led consortium for the next phase of a project that explores the use of ammonia to generate clean power on Jurong Island, said the Energy Market Authority and Maritime and Port Authority of Singapore on Friday. The project aims to develop a solution that generates 55 to 65 megawatts of electricity from imported low or zero-carbon ammonia. Alongside project partners Japan’s Sumitomo Corporation and liquid storage logistics player Advario, Keppel will conduct a front-end engineering design study to advance a proposal on using ammonia to generate power. The counter closed at S$9.17 on Friday, up 0.3 per cent or S$0.03.
Frasers Hospitality Trust (FHT) : The stapled group will be delisted from the official list of the Singapore Exchange (SGX) on Monday at 9 am, said the managers. It will comprise two private sub-trusts after the delisting. In September, FHT received court sanction for its proposed privatisation by way of a trust scheme, after its sponsor Frasers Property’s second attempt in three years to buy it out succeeded at its Aug 15 scheme meeting. Its stapled securities last closed at S$0.71 before FHT was suspended on Sep 12.
HRnetGroup : The company on Monday announced its placement of some 9.8 million shares to certain institutional and accredited investors at a price of S$0.714 per placement share. Its estimated net proceeds of close to S$7 million are intended for working capital uses. The placement came about after the company received a reverse inquiry from a financial institution, and its purpose is to enhance trading liquidity and the group’s free float, HRnetGroup said. The counter ended Friday flat at S$0.745.
AEM : Advantest Test Solutions has filed a complaint against the company, it said on Monday. The complaint alleges patent infringement against AEM and its subsidiaries, AEM Singapore and AEM Americas. The group said that the complaint does not affect its business operations, its existing commercial offerings or products, or its ongoing ability to serve customers. Its revenue guidance for H2 2025, previously announced on Aug 13, remains unchanged. Shares of AEM closed on Friday at S$2.04, up 6.3 per cent or S$0.12.
Grand Venture Technology : The group said on Friday that the court had approved a scheme for its privatisation. In July, the group announced that Dutch firm Aalberts Advanced Mechatronics had proposed to acquire all ordinary shares in its issued and paid-up share capital, amounting to some 339.3 million shares worth S$318.9 million. The last trading day for Grand Venture shares on SGX will be on Oct 8, with the expected date for the payment of the scheme consideration on or around Oct 31. The counter ended Friday at S$0.94, up 0.5 per cent or S$0.005, before the announcement.
Fu Yu : The precision plastic components manufacturer will close its investigations into irregularities at its wholly owned supply chain unit Fu Yu Supply Chain Solutions (FYSCS) and will not take further action against individuals involved. On Friday, the board said it is of the view that it would not be in the best interests of the company and shareholders to continue with the probe. The group announced in January that it was looking into FYSCS after discovering causes for concern at the unit. The counter ended Friday at S$0.099, down 1 per cent or S$0.001, before the announcement.
mm2 Asia : The cut-off date for a proposed share placement to raise funds has been extended from Sep 30, 2025, to Mar 31, 2026, to allow sufficient time to fulfil the terms of the agreement, the media company said on Friday. Announced in July, mm2 Asia proposed a placement of up to around 1.9 billion shares at a minimum price of S$0.008 per share, to raise funds for debt repayment and working capital purposes. The group said it had come to an agreement on the extension with the placement agent, UOB Kay Hian. Shares of mm2 Asia ended Friday at S$0.002, down S$0.001 or 33.3 per cent, before the announcement.
