Stocks to watch: Keppel, ValueMax, Raffles Education, Nio

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jun 21).

Keppel : The conglomerate has obtained a contract to design, build, own and operate a new large-scale district cooling system plant in the Jurong Lake District for 30 years, during which it expects to generate about S$950 million. The index counter closed on Tuesday down 5.2 per cent or S$0.36 at S$6.60, before the announcement.

ValueMax Group : The mainboard-listed group launched an issue of unsecured commercial paper in digital securities at an interest rate of 5.15 per cent with a maturity of three months. It expects to raise S$10 million to S$20 million from accredited and institutional investors from the issuance, to be listed on the SDAX digital platform. ValueMax shares closed flat at S$0.325 on Tuesday, before the announcement.