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Stocks to watch: Frasers Centrepoint, OKP, ST Engineering
THE following listed companies made material announcements before the Singapore market opened on Wednesday:
FRASERS Centrepoint Limited has said that it plans to issue US$200 million in fixed rate notes, through its wholly owned subsidiary FCL Treasury.
The interest rate for the notes - the seventh series issued under FCL's multicurrency debt issuance programme - is fixed at 2.5 per cent per annum payable semi-annually in arrear. Unless previously redeemed, purchased or cancelled, the notes shall mature on July 21, 2021.
Net proceeds will be used for general corporate purposes, including refinancing the existing borrowings, and financing the investments and general working capital needs.
The stock ended Tuesday's session at S$1.51, up half a cent.
THE company's subsidiary Eng Lam Contractors has been awarded a S$19.3 million contract by JTC for infrastructure works at Punggol.
The 15-month contract began on July 5 and is expected to be completed by Oct 4, 2017.
It is the company's fifth contract of 2016, having secured contracts from the Land Transport Authority and the Public Utilities Board earlier this year.
OKP's counter closed up 1.5 Singapore cents at S$0.25 on Tuesday.
SINGAPORE Technologies Engineering Ltd
ST Engineering has said that its aerospace arm, ST Aerospace, has secured new contracts worth S$700 million in the second quarter of 2016.
The projects range from airframe maintenance and cabin interiors to engine wash and component repair and overhaul.
ST Engineering also signed multiple contracts with customers in the Asia-Pacific, Europe and the US for EcoPower engine wash services.
It closed up S$0.04 on Tuesday to end at S$3.32.