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Stocks to watch: Global Invacom, Sunningdale Tech, Falcon Energy, Vicom, Mapletree Logistics Trust
THE following companies saw new developments which may affect trading of their shares on Wednesday:
Global Invacom: Satellite communications equipment provider Global Invacom has acquired Skyware Technologies Group, a designer and manufacturer of integrated transmitter and receivers for data over satellite (DOS) applications. The Skyware Technologies acquisition consists of an initial cash consideration of S$3.1 million, with a further S$0.3 million to be provided as product, and a maximum additional S$0.5 million payable on delivery of revenue related earn-out targets, the mainboard-listed firm announced in a pre-market open statement on Wednesday.
Sunningdale Tech: Precision plastic component manufacturer Sunningdale Tech has acquired Adval Tech (Thailand), a company which manufactures and sells precision plastic components for electronic products, home appliances and the automotive industry. Mainboard-listed Sunningdale Tech announced it had entered into a share purchase agreement with seller Adval Tech Holdings (Asia) for 400,000 ordinary shares, representing all of Adval Tech (Thailand)'s issued and paid-up share capital.
Falcon Energy: Falcon Energy said on Tuesday that it plans to sell and leaseback five office units for S$13.2 million in order to repay lender UOB. The offshore and marine company said that its subsidiary, Longzhu Oilfield Services, had entered into agreements on July 21 for the sale of office premises located at units #33-01/01A/14/15/16 of 10 Anson Road, International Plaza in Singapore. The sale is expected to be completed on Nov 8.
Vicom, Mapletree Logistics Trust: Vehicle inspection firm Vicom has agreed to buy a six-storey warehouse from Mapletree Logistics Trust (MLT) for S$22.4 million. The property, located at 531 Bukit Batok Street 23, will in time replace Setsco's (Vicom's non-vehicular inspection and testing arm) present premises at Teban Gardens Crescent, which has been zoned for re-development under the government's plans for the Jurong Lake District, Vicom said on Tuesday. MLT acquired the Bukit Batok property in 2005 for S$20.32 million. It was valued at S$22.4 million as at March 31.