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Stocks to watch: Chip Eng Seng, Oxley Holdings, KLW Holdings
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Chip Eng Seng Corp: The company announced a proposed investment in a real estate development project in Ho Chi Minh City, Vietnam which will be carried out through a loan agreement and a share purchase agreement. The company's subsidiary in Vietnam, Viet Investment Link Joint Stock Company entered into a loan agreement with Giai Loi Investment Joint Stock Company to provide Giai Loi with a loan of about US$18.8 million.
Oxley Holdings: The property developer provided further details of its recent investment in Australian firm Pindan Capital Mermaid Beach (PC Mermaid Beach), in response to queries from the Singapore Exchange. Oxley said that PC Mermaid Beach was a dormant entity and had a paid-up capital of A$100 (S$104) and no assets, prior to its acquisition of a development site on the Gold Coast, Australia.
KLW Holdings: The company announced late Monday, an agreement with Koperasi Permodalan Felda Malaysia Bhd (KPF) to acquire over 13 million Class A shares in the share capital of KLW Resources Sdn Bhd for RM25 million (S$8.21 million). The Class A shares represent 30 per cent of the issued capital of KLW Resources, which are legally and beneficially owned by KPF as at Dec 29, the date of the agreement.