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Stocks to watch: CWT, Vard, Tuan Sing, Sembcorp Industries, Keppel Infrastructure
THE following stocks made announcements after the stock market closed on Friday that could affect their trading on Monday:
CWT: Hong Kong-listed HNA Holding Group on Sunday evening announced a pre-conditional voluntary general cash offer through a Singapore-incorporated subsidiary for all issued and paid-up ordinary shares in Singapore-listed CWT. The offer, pegged at S$2.33 per share, values CWT at just under S$1.4 billion.
Vard Holdings: The group has won a contract for the design and construction of a live fish transportation vessel for Fjordlaks Aqua in Alesund, Norway. The hull of the vessel will be built at Vard Braila in Romania but the final vessel will be delivered from Vard Aukra in Norway in the third quarter of 2018.
Tuan Sing Holdings: The property developer is buying Sime Darby Centre in Bukit Timah for S$365 million. The property, located at 896 Dunearn Road, sits on commercial land of 13,088.8 square metres that is part-freehold and part-999 years leasehold. The group said it plans to reposition the property into a hub of activities in due time.
Sembcorp Industries: The group has won the bid for a wind-power project in India which is estimated to cost about 19 billion rupees (S$415 million). The project, which will have a capacity of close to 250 megawatts, will be located in the southern state of Tamil Nadu and connected to India's central transmission utility.
Keppel Infrastructure Holdings: The company's wholly owned subsidiary, Keppel Seghers, has completed the capacity upgrade at the Ulu Pandan NEWater Plant. The upgrade work boosted the plant's designed and contracted capacity from 148,000 cubic metres (32 million gallons per day) to 162,800 cubic metres (35 million gallons per day).