Stocks to watch: Nio, Sembcorp, Paragon Reit, Oiltek

THE following companies saw new developments that may affect trading of their securities on Monday (Jun 3): 

Nio : The Chinese electric carmaker delivered a record high monthly delivery of 20,544 cars in May 2024, which represents a 233.8 per cent year-on-year increase. By the end of May, Nio’s cumulative deliveries since inception reached 515,811 cars. Shares of the mainboard-listed company climbed 8.1 per cent or US$0.40 to US$5.32 last Friday, before the announcement.

Sembcorp Industries : Sembcorp Development, a wholly owned subsidiary of Sembcorp Industries, has added three industrial parks in Vietnam to its expanding portfolio of low-carbon industrial parks. Sembcorp’s effective shares in the three new projects range from 24.6 to 49.3 per cent. Shares of the mainboard-listed company were down 0.8 per cent or S$0.04 to S$5.09 on Friday, before the announcement.

Paragon Reit : The real estate investment trust is in advanced negotiations with a private investor to sell The Rail Mall in Upper Bukit Timah at a price understood to be slightly higher than S$80 million. The single-storey strip mall was valued at S$62 million as at Dec 31, 2023. Units of Paragon Reit closed 1.2 per cent or S$0.01 higher at S$0.855 on Friday, before the news.

Oiltek International : The renewable energy solutions provider on Monday said it secured new contracts worth RM94.8 million (S$27.2 million) from Malaysia, Indonesia and Kenya. This brings the group’s order book, which is expected to be fulfilled over the next 18 to 24 months, to a record high of RM400.5 million. Shares of Oiltek ended S$0.01 or 2.9 per cent lower at S$0.34 last Friday.