Stocks to watch: Yangzijiang Shipbuilding, Challenger, Beng Kuang Marine
Mia Pei
THE following companies saw new developments that may affect trading of their securities on Monday (Jun 26):
Yangzijiang Shipbuilding : The mainboard-listed vessel producer on Sunday said it obtained a contract from repeat customer Klaveness Combination Carriers to build three 83,300 dwt vessels for delivery in 2026. No contract value was disclosed. Yangzijiang’s shares fell S$0.04 or 3 per cent to close at S$1.28 on Friday.
Challenger Technologies : The offeror looking to take the mainboard-listed consumer electronics retailer private has bagged more than 90 per cent of Challenger’s total shares, leading to a loss of free float and a potential suspension in the trading of its shares. The counter closed unchanged at S$0.60 on Friday, before the announcement.
Beng Kuang Marine : The mainboard-listed maritime company on Friday proposed to sell 31 per cent of its Batam shipyard property to Bukit Batu Mulia for S$9.9 million. The buyer is owned by an affiliate of China’s Nanshan Group and George Santos – the founder and owner of Indonesia Solid Group. Beng Kuang Marine’s shares last traded at S$0.073 on Jun 21, before the company requested a trading halt on the same day. The counter resumes trading on Monday.
Cordlife Group : The cord blood bank company on Monday said there are confidential discussions between Cradle Investments and a third party over a possible transaction that may or may not lead to an offer for the company’s shares. Cordlife vice-chairman Ho Choon Hou is a partner at Southern Capital, which has a fund with a deemed interest in Cradle Investments. He informed the board that a deal is being contemplated and negotiations are underway. He will also abstain from all matters involving the matter. Shares of mainboard-listed Cordlife last traded at S$0.415 on Jun 21 before a trading halt was requested. The counter resumes trading on Monday.
