Stocks to watch: Sembcorp, Lum Chang, Tiong Seng, Jumbo

THE following companies saw new developments that may affect trading of their securities on Friday (Dec 23):

Sembcorp Industries : The energy and urban solutions provider has commissioned a 285 megawatt hour (MWh) energy storage system (ESS) facility within six months, which the group on Friday said is South-east Asia’s largest. Sembcorp expects the ESS to be accretive to earnings, though not material to the earnings per share and asset value per share of the group for the financial years ending December 2022 and 2023. The counter closed on Thursday 0.9 per cent or S$0.03 higher to S$3.41.

Lum Chang : The construction player has secured a tender to build a 19-storey hotel along Orchard Road for S$110 million. Scheduled to be completed over a 36-month period starting from April next year, the hotel is expected to have 246 rooms with ancillary facilities. Shares of Lum Chang closed flat at S$0.38 on Thursday, before the announcement.