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Stocks to watch: Centurion, KTL Global, SembMarine, Singtel, Silkroad Nickel
THE following companies saw new developments which may affect trading of their shares on Monday:
Centurion Corporation: Centurion Corporation announced on Friday night the first closing of its second student accommodation fund with total committed capital of S$70 million, of which S$60 million is by an unnamed "third-party cornerstone investor which is a reputable educational institution" and the rest by the company's unit Centurion Overseas Investments. The Centurion Student Accommodation Fund aims to generate stable and recurring income to deliver a total return by investing in purpose-built student accommodation assets globally excluding the US. The fund holds a 133-bed facility in Nottingham, the UK.
KTL Global: Offshore services company KTL Global has reconstituted its board of directors with effect from Dec 10, with the resignation of non-executive director Cheong Hooi Kheng pursuant to a management restructuring exercise, and the appointments of executive director Liu Changsheng and independent director Zhao Chengcheng.
Sembcorp Marine: Sembcorp Marine has appointed retired KPMG audit partner Tan Wah Yeow as an independent director and member of the audit committee with effect from Dec 10. Mr Tan is also a director on the boards of Mapletree Logistics Trust Management, M1 and Genting Singapore.
Singtel: Singtel's wholly owned Australian telco Optus confirmed on Monday that it had successfully acquired regional licences in the country's auction of a new 5G mobile high-speed network. Optus won 47 regional lots for a total amount of A$185.1 million (S$182.4 million) across North and Central Queensland, South East Queensland/Northern New South Wales, regional Victoria and South Australia, Tasmania and Southern/Western NSW. The network is set to launch next year with a promise of more reliable and higher quality video streaming, and faster fixed wireless Internet.
Silkroad Nickel: Catalist-listed Indonesian nickel mining group Silkroad Nickel and its two executive directors have been named as defendants in a writ of summons filed in Singapore's High Court on Nov 27 by four Malaysian-based lawyers who were involved in the reverse takeover of the company by FE Resources. The four plaintiffs are seeking, among others, for Far East Mining to transfer "a certain amount of the shares" that it holds in Silkroad Nickel as consideration for "introducer fees" in connection with the completion of the reverse takeover.