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Stocks to watch: Chew's Group, Silkroad Nickel, Swee Hong, F&N, LTC Corp
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Chew's Group: Fresh egg producer Chew's Group has gained a new substantial shareholder. According to disclosures filed with the Singapore Exchange on Monday evening, Ang De Yu has bought about 4.7 million shares at S$0.2107 each, for a total consideration of S$1 million via an off-market transaction, thus beefing up his stake from zero per cent to 5.62 per cent. The counter last traded at S$0.21 apiece on Nov 8.
Silkroad Nickel: The Catalist-listed Indonesian nickel mining group on Monday said that its subsidiary, Teknik Alum Service, has signed a new long-term mining exploration agreement worth more than S$90 million with Sinohydro Corporation and Sepco II Indo to produce at least six million committed tonnes of nickel ore under a five-year fixed price exploration agreement. Shares in Silkroad Nickel closed at S$0.42 apiece on Monday, down 1.2 per cent, or 0.5 Singapore cent.
Swee Hong: Swee Hong on Monday said that it has won a contract with the Public Utilities Board worth about S$32.5 million for the construction of link sewers for the DTSS Phase 2 Project at Old Choa Chu Kang Road/Jalan Bahar. The contract is expected to contribute positively to but is not expected to have any significant impact on the company’s earnings or the net tangible assets for the current financial year ending June 30, 2019, it said. The counter is on the Singapore Exchange's watch list and closed flat at 0.5 Singapore cent on Monday.
Fraser and Neave (F&N): Mainboard-listed drinks maker F&N has launched a four-year research tie-up to look into developments such as healthier products, with a new laboratory opened on Monday. Singapore-based F&N, which is majority-owned by Thai Beverage, produces the Seasons brand of iced teas, flavoured sodas in the Sparkling Drinks range and Ice Mountain bottled water, among other beverages. New recipes could be under way, based on potential findings from research at the new F&N-NTU F&B Innovation Lab at Nanyang Technological University - which was set up in an arrangement billed as F&N's first long-term joint research partnership with an academic institution. F&N closed up by S$0.02, or 1.18 per cent, at S$1.72 apiece on Monday.
LTC Corp: The controlling family of LTC Corp has extended its S$0.925 per share exit offer for the steel trading and property group to the end of the month, according to a filing on Tuesday morning before market opened. The new deadline is now 5.30pm on Jan 31, from the previous deadline of 5.30pm on Jan 10. The new deadline may not be final. The counter closed flat at S$0.92 on Monday.