Stocks to watch: ST Engineering, StarHub, Sembcorp, Mapletree Logistics Trust

THE following companies saw new developments that may affect trading of their securities on Wednesday (Dec 13):

ST Engineering and StarHub : The defence and engineering group will acquire cryptographic technology company D’Crypt from a StarHub unit, both parties said separately on Wednesday. The transaction, which is cash-free and debt-free, comprises an initial consideration of S$67.5 million and a S$5 million earn-out consideration. On Tuesday, shares of ST Engineering closed 0.8 per cent or S$0.03 higher at S$3.780, while StarHub’s counter closed 0.9 per cent or S$0.01 higher at S$1.10.

Sembcorp Industries : The power player’s wholly owned unit has been awarded a 117 megawatt-peak project by JTC, to “solarise” interim vacant land and the rooftops of five buildings on Jurong Island. The tender is the largest project by capacity awarded by a public-sector agency in Singapore to date, said Sembcorp on Tuesday. The counter closed S$0.16 or 3.3 per cent higher at S$5.07, before the announcement.

Mapletree Logistics Trust (MLT): Its manager on Wednesday announced that it was proposing to acquire a Grade A warehouse in Farukhnagar, which is within the Delhi National Capital Region in India, for 900 million rupees (S$14.5 million). The transaction is slated to be completed in Q4 FY2024 and will be 100 per cent funded by debt. Units of MLT ended Tuesday flat at S$1.62.