Stocks to watch: Sembcorp, ARA H-Trust, Sri Trang Agro-Industry, Kimly, China Kangda Food

THE following companies saw new developments that may affect trading of their securities on Tuesday (Nov 28):

Sembcorp Industries : The energy group on Monday announced two separate agreements to acquire wind assets in China and India for a total consideration of S$200 million. The assets collectively amount to 428 MW, and their purchase is seen to align with Sembcorp’s target to secure 25 GW of renewables capacity by 2028. Prior to the announcement, Sembcorp shares fell 0.2 per cent or S$0.01 to close at S$5.12.

ARA US Hospitality Trust (ARA H-Trust): The stapled group has proposed to sell hotel Hyatt Place Pittsburgh Airport, one of its older assets and its smallest asset by valuation, for US$7.7 million, the managers said on Tuesday. They expect to complete the divestment in Q1 2024. ARA H-Trust’s stapled securities finished 1.7 per cent, or US$0.005 lower at US$0.285 on Monday.

Sri Trang Agro-Industry : The rubber group posted a net loss of 410.2 million baht (S$15.6 million) for the third fiscal quarter ended September, reversing from its net profit position in the corresponding year-ago period. Despite the weaker showing, the company outlined expansion plans that included an investment budget of nine billion baht for an “aggressive expansion” in technically specified rubber. Shares of Sri Trang Agro closed flat at S$0.59 on Monday, before the update.

Kimly : The coffee shop operator reported a 7.2 per cent rise in net profit to S$36.5 million for the full year ended Sep 30, 2023, due primarily to a S$2.5 million gain from the sale of its confectionery business. Its board proposed a final dividend of 1.12 Singapore cents per share. The counter closed flat at S$0.305 on Monday, before the news.

China Kangda Food : The Chinese food-processing company on Monday announced that it is unable to contact its chairman and chief executive Fang Yu. China Kangda’s board also said the other executive directors will continue to be responsible for the day-to-day management and operations of the company. Shares of China Kangda closed flat at S$0.029, before the announcement.