Stocks to watch: Marco Polo Marine, Cordlife, No Signboard

THE following companies saw new developments that may affect trading of their securities on Friday (Mar 22): 

Marco Polo Marine : The shipyard and marine logistics company on Thursday said that its Taiwanese subsidiary, PKR Offshore, has secured the Asia-Pacific Crew Transfer Vessel framework agreement with wind-turbine manufacturer Siemens Gamesa. The agreement is expected to contribute positively to its revenue and profits, but will not be material to its results and performance in the current financial year ending Sep 30, 2024. Shares of Marco Polo Marine were up S$0.003 or 5.1 per cent at S$0.062 before the announcement.

Cordlife Group : Four of its directors and its former group chief executive, Tan Poh Lan, were arrested and released on bail by the Commercial Affairs Department, said the cord-blood bank on Friday. The day before, the company announced that two of the company’s substantial shareholders had requisitioned the removal of directors from the board of the private cord-blood bank. The counter was down 6.3 per cent or S$0.015 to S$0.225 before a trading halt took effect on Mar 14. It resumed trading on Friday.

No Signboard : The restaurant operator will sell its trademarks under a settlement agreement with its former executive chairman Lim Yong Sim, former controlling shareholder GuGong, and Mattar Road No Signboard Seafood Restaurant. No Signboard further announced on Thursday that it will sell its “No Signboard” trademarks to GuGong. The company intends to conduct a rebranding exercise within the next three months. Its shares closed flat at S$0.016 before the announcement.