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Stocks to watch: Geo Energy, GLP, Boustead Projects
THE following stocks had announcements or developments that may influence trading on Tuesday:
Indonesian coal miner Geo Energy Resources said it is planning a refinancing and early redemption of its S$100 million 7 per cent notes that are due in January 2018. Towards this end, it launched a consent solicitation exercise on Tuesday to seek consent among noteholders to waive certain financial covenants attached to the notes.
Global Logistic Properties said it has signed 182,000 square metres of new leases in Japan and China over the past two months. In Japan, GLP has signed 69,000 sq m of pre-lease agreements in Greater Tokyo while in China, it has signed 113,000 sq m of new and expansion leases.
Boustead Projects reported a 165 per cent jump in fourth-quarter net profit to S$14.3 million against a 35 per cent year-on-year drop in revenue to S$38.5 million. The higher earnings were led mainly by one-off gains for the period.