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Stocks to watch: CapitaLand, Keppel, Sembcorp Industries, Sembmarine, Frasers Property
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Sembcorp Industries (SCI), Sembcorp Marine (SMM): SCI and its marine arm SMM on Monday unveiled a massive S$2.1 billion recapitalisation deal for SMM - plus a "demerger" from each other with Singapore's Temasek Holdings ending with a direct stake in SMM. Trading in the shares of both companies has been halted since last Thursday pending the announcement. SMM last traded at S$0.85 on Wednesday and SCI at S$1.53. Both companies requested for the lifting of their trading halts on Monday evening after the market closed.
CapitaLand: The property giant on Monday said it will further waive and potentially defer rent for qualifying small and medium-sized enterprise tenants, though this will lead to an "adverse impact" on its earnings this year. Shares of CapitaLand closed up S$0.03 or 1 per cent to S$3.20 on Monday before this announcement.
Keppel Corp: The conglomerate on Tuesday said that an Awilco Drilling unit is purporting to terminate an offshore rig construction deal with Keppel FELS, due to alleged breaches of contract. Shares of Keppel Corp dropped S$0.07 or 1.1 per cent to end Monday at S$6.23 on an ex-dividend basis.
Frasers Property: The property developer on Tuesday said it has, through its subsidiary Fernvale Lane, obtained a S$350 million green loan to finance its Fernvale Lane executive condominium development. Shares of Frasers Property closed at S$1.37 on Monday, up S$0.03 or 2.2 per cent.
Singapore Post (SingPost): SingPost on Monday said an arbitration filed over a dispute in a share-purchase agreement has been issued a partial award, with various claims against the group dismissed. Shares of SingPost closed up S$0.01 or 1.2 per cent to S$0.82 on Monday before this announcement.
Ho Bee Land: Mainboard-listed developer Ho Bee Land on Monday announced that two of its subsidiaries have separately acquired a residential development site in Queensland, Australia, for a total of A$23.5 million (S$22.8 million). The counter closed up S$0.01 or 0.5 per cent to S$2.15 on Monday before this announcement.
Bonvests Holdings: Mainboard-listed Bonvests on Monday said its hotel division is experiencing a "significant" decline in revenue amid global travel restrictions. Bonvests shares closed flat at S$0.93 on Monday before this announcement.
Amara Holdings: Amid global travel restrictions and safe-distancing measures, property developer and hotelier Amara expects its financial performance for 2020 to be "severely impacted" from broad weakness across all business segments. Nonetheless, the group remains "optimistic" about the hotel industry's prospects over a longer horizon. Amara shares closed flat at S$0.41 on Monday before this announcement.
Yongmao Holdings: The mainboard-listed crane manufacturer on Monday guided for a "significantly lower" net profit for the second half of the financial year ended March 31, 2020, compared with the same period last year. Shares of Yongmao closed flat at S$0.93 on Monday before the release of its profit-guidance note.