Stocks to watch: Oiltek International, Koh Brothers Eco Engineering, Koh Brothers, Acrophyte Hospitality Trust, Capital World

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Apr 14): 

Oiltek International , Koh Brothers Eco Engineering (KBE) , Koh Brothers : Property player Koh Brothers rejected a new shareholders’ attempt to force the company to distribute its stake in Oiltek on the basis that it is not in the group’s best interest. Koh Brothers said on Monday that its board will not put the shareholders’ proposed resolution – to get its 54.8 per cent-owned unit KBE to distribute its Oiltek shares – to a vote at its upcoming annual general meeting. Oiltek shares closed 3.5 per cent up at S$2.08 on Monday, KBE shares ended 14.8 per cent up at S$0.132 and Koh Brothers shares ended Monday 5.7 per cent up at S$0.37.

Acrophyte Hospitality Trust : Auditors of the trust raised doubts on Monday about whether the Singapore-listed hospitality group can refinance a US$198.5 million loan that falls due in September, flagging a material uncertainty over its ability to continue operating. Stapled securities of Acrophyte Hospitality Trust last traded flat at US$0.255 on Monday before the announcement. Capital World : Capital World has begun renovation and fit-out works for Mustafa Centre’s first outlet in Johor Bahru, the firm announced on Monday. The project, located at Capital City Mall, is scheduled for completion before the first quarter of 2027. This comes after over two years of delays and negotiations. Shares of Capital World ended flat at S$0.001 on Monday.