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Stocks to watch: CDL, SembMarine, Technics Oil & Gas
THE following stocks had news or developments that may influence trading on Friday.
City Developments Limited (CDL): The developer is eyeing strategic investments in real-estate companies to take advantage of the current price discount in equity markets, under its plan to deploy S$5 billion in overseas expansion over five years. Group chief executive Grant Kelley said this is part of the "5-5-5" strategy stitched together since he joined the group in 2014; "5-5-5" is code for the deployment of S$5 billion in funds management and S$5 billion in overseas investments over a five-year period.
Sembcorp Marine: Sembcorp Marine subsidiary PT SMOE inaugurated on Thursday a training and learning centre in Batam that will work towards retaining a core group of skilled workers for the delivery of both domestic and international projects.
Technics Oil & Gas: The mainboard-listed offshore marine player is facing two more legal suits of close to S$5 million in loan repayments, even as a S$70.5 million newbuild order for its work fell through. The two new suits, both detailed in a filing to Singapore Exchange on Thursday evening, bring to three the number of legal proceedings that the company received on Thursday.