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Stocks to watch: DeClout, Memories Group, AEM Holdings, KLW Holdings
THE following companies saw new developments that may affect trading of their shares on Monday.
DeClout: Infocomm technology group DeClout published a corporate and business update ahead of the market open on Monday, on the heels of its first recorded net loss on March 1. It announced four strategic initiatives, including expanding data-based revenue streams and accelerating investments in startups and technology companies. The group said that it expected to pare its losses in 2018 and return to profitability for the financial year.
Memories Group: Myanmar-based tourism company Memories Group will pay 1.3 billion kyat (S$1.3 million) for Burma Boating, a luxury yachting business operating in southern Myanmar's Mergui Archipelago, as part of an expansion plan in that market. The deal will see Memories Group take ownership of the target's brand, contracts and bookings, and assets, including an 85-foot (25.9-metre), four-cabin yacht.
AEM Holdings: Semiconductor equipment maker AEM Holdings has clinched more long-only institutional and family funds as new shareholders, the company said on Sunday. The move saw its largest shareholder, Orion Phoenix - which is controlled by private equity fund Novo Tellus Capital Partners - sell a 6 per cent stake for S$24.4 million, on March 2.
KLW Holdings: Door manufacturer KLW Holdings announced late last Friday night that a joint-venture company in Indonesia, PT Ambertree Development Jakarta, has struck a deal to pay 35.3 billion rupiah (S$3.4 million) for a plot of land in South Jakarta. It plans to turn the 929 sq m (10,000 sq ft) site into a mixed-use development with residential, retail and commercial components.