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Stocks to watch: Alliance Mineral Assets, Yongnam, Heeton, SHS Holdings
THE following companies saw new developments which may affect trading of their shares on Thursday:
Alliance Mineral Assets: The Catalist-listed miner's trading halt has turned into a suspension pending the release of an announcement. The company had sought a trading halt on Dec 21, pending an announcement in relation to its existing offtake agreements. In October, Alliance Mineral Assets and its joint-venture partner Tawana Resources said they have agreed to sell 20 to 30 dry tonnes of high-grade tantalum concentrate from the Bald Hill mine in Australia to Germany-based HC Starck Tantalum and Niobium, and have been engaged for the long-term offtake of the high-grade tantalum concentrate production from Bald Hill.
Yongnam Holdings: Mainboard-listed Yongnam Holdings has secured new contracts in Australia and Singapore worth S$73.4 million, the structural steel and specialist civil engineering firm announced in a Singapore Exchange filing on Wednesday. Yongnam said the contracts are expected to have a positive impact on its financial performance for the year ending Dec 31, 2018. The signing of the last of these deals, worth S$47 million, is expected to be completed in January 2019.
Heeton Holdings: Mainboard-listed developer Heeton Holdings has disposed of a 40 per cent stake in previously wholly owned unit Prospere Glory, a real estate and investment holding firm. On Dec 21, 20 per cent of the shareholding interest in Prospere Glory was disposed of to KSH Investments Property Holdings Pte Ltd, and another 20 per cent to Ho Lee Properties (UK) Pte Ltd, via Heeton unit Heeton Capital. Each disposal had a sales consideration of S$20, based on the net asset value of Prospere Glory as at the date of the disposal.
SHS Holdings: An SHS Holdings subsidiary has received an extension of the planned commercial operations date for a delayed solar power project in Bangladesh, potentially dodging US$912,500 in liquidated damages. The 50 MW solar power plant was originally meant to have been completed on April 18, 2018. Separately, SHS Holdings also announced the divestment of a solar power plant in Vietnam and the signing of a power purchase agreement for the electricity produced by the plant.