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Stocks to watch: Geo Energy Resources, Keppel Corp, New Silkroutes
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Geo Energy Resources Limited: Indonesian coal mining group Geo Energy Resources Limited has set up a new unit to invest in a controlling equity stake in an online e-commerce portal in Indonesia, marking the group's first foray into non-coal related business since its establishment in 2008. Geo Energy closed at S$0.265 on Monday.
Keppel Corporation Limited: Keppel Corporation's unit, Keppel Land Limited, has on Aug 28, 2017 priced S$150 million in aggregate principal amount of 2.843 per cent notes due 2023, the group said in a Singapore Exchange filing on Tuesday. The notes are expected to be issued on Sept 5, 2017 at an issue price of 100 per cent of the principal amount and in denominations of S$250,000. Keppel Corp closed at S$6.39 on Monday.
New Silkroutes Group Limited: New Silkroutes Group's net loss widened to US$1 million for its fourth quarter, from a net loss of US$268,000 in the year-ago period, the group said in a Singapore Exchange filing on Tuesday. However, for the three months ended June 30, revenue surged 227.2 per cent to US$114.6 million from the previous year, mainly due to the group's wholly owned oil trading subsidiary, International Energy Group Pte Ltd, turning in another strong quarter, it said. No dividend was proposed. New Silkroutes Group shares ended unchanged at S$0.39 on Monday.