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Stocks to watch: F&N, Stamford Tyres, Emas

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THE following companies had announcements that may affect trading on Tuesday:

Fraser and Neave (F&N) has won its bid to acquire an additional 5.4 per cent of Vietnam Dairy Products Joint Stock Co, or Vinamilk, for S$709 million. F&N, a beverage company, will hold an enlarged stake of 16.35 per cent.

F&N shares closed at S$2.09 on Monday before the announcement.

Stamford Tyres's net profit rose 60 per cent to S$1.5 million in its second fiscal quarter ended Oct 31, 2016, as the tyre distributor cut costs and expenses. Revenue stayed flat at around S$58 million.

Market voices on:

Stamford shares closed flat at S$0.26 on Monday before the results were announced.

Emas Offshore has reached agreement with all of its financial lenders to refinance its obligations over a five-year period from Dec 12, 2016, the oil and gas contractor announced on Tuesday before the market opened. The refinancing will be subject to terms that will be set within 60 days from Dec 12.

Shares of Emas closed at six Singapore cents on Monday, down by 14.3 per cent or one Singapore cent.