Stocks to watch: Seatrium, Thakral, Fu Yu, Capital World
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Oct 10):
Seatrium : The company has received a notice of termination for a contract secured in 2022 by its subsidiary Sembcorp Marine Rigs & Floaters, which is now known as Seatrium Energy (International). The contract was for the construction of a wind turbine installation vessel for Maersk Offshore Wind, which was to be deployed at a US offshore wind farm. It has a total value of around US$475 million and is about 98.9 per cent completed. Seatrium on Friday said it is reviewing the validity of the termination notice. The counter ended Thursday 0.8 per cent or S$0.02 lower at S$2.44.
Thakral : Its investee company in the UK, The Beauty Tech Group, made its debut on the London Stock Exchange on Wednesday, the group announced on Thursday. The Beauty Tech Group’s share price rose by about 4 per cent to £2.81 at the close of its first day of trading, resulting in a market cap of about £311 million (S$537.4 million). Thakral holds a 6.04 per cent stake in The Beauty Tech Group. The counter ended Thursday down by 0.6 per cent or S$0.01 at S$1.62, before the news.
Fu Yu : The group on Thursday said that its board decided to discontinue investigations into its unit Fu Yu Supply Chain Solutions after receiving legal advice that there is no merit in taking further action. This was in response to queries from the Singapore Exchange over the company’s decision to cease the probe. It added that it would be in the company’s best interests to close the investigations, instead of expending further resources to pursue matters that are unlikely to yield tangible benefits. The counter closed on Thursday at S$0.099, up by 1 per cent or S$0.001.
Capital World : An individual that the company’s subsidiary Capital City Property entered into a sale and purchase agreement (SPA) with for the purchase of a serviced suite unit is demanding the cancellation of the SPA. This comes as the development remains incomplete despite the SPA having been executed in September 2019, the group said on Thursday. The individual also demanded full repayment of the redemption sum of RM254,797.71 (S$78,078) disbursed by his end-financier, and RM55,213.73 for the interest paid. The counter ended Thursday flat at S$0.001.
Trading halt: Reclaims Global called for a trading halt on Friday morning, pending the release of an announcement. Its shares ended Thursday at S$0.405, down by S$0.045 or 10 per cent.
