Stocks to watch: Golden Energy, Kimly, Food Empire, OKH Global, Oiltek, Koh Brothers Eco

THE following companies saw new developments that may affect trading of their securities on Thursday (Mar 3):

Golden Energy and Resources (Gear): AUE The mainboard-listed investment holding company's subsidiary Golden Investments has committed to subscribe for US$300 million of its entitlements in Stanmore's partially underwritten accelerated renounceable entitlement offer of ordinary shares on the Australia Stock Exchange. In its announcement on Thursday, Gear said Golden Investments, which holds a 75.33 per cent interest in Stanmore, is expected to retain an approximately 64 per cent interest in Stanmore upon completion of the offer. Shares of Gear closed S$0.05 or 15.6 per cent higher at S$0.37 on Wednesday.

Kimly: 1D0 The Catalist-listed coffee shop operator on Wednesday engaged 2 former directors as independent consultants to the company, after they were fined by the State Courts and disqualified from serving as directors in companies for 5 years. Lim Hee Liat, the company's former executive chairman, and Chia Cher Khiang, its former executive director, were fined for offences under the Securities and Futures Act. Shares of Kimly closed flat at S$0.39 on Wednesday before the announcement.

Food Empire Holdings: F03 The mainboard-listed food and beverage manufacturer does not foresee any going concern issues stemming from the Russia-Ukraine conflict. In an update on Wednesday, the company noted that its operations and sales activities in Ukraine have been suspended on safety and well-being concerns for its staff. Meanwhile, the economic sanctions in Russia, the manufacturer's biggest market, may have broad implications that are still unclear to the company right now, Food Empire said. The counter ended S$0.02 or 4.4 per cent higher at S$0.47 on Wednesday, before the announcement.

OKH Global: S3N The mainboard-listed property developer has entered into a conditional share sale agreement to dispose of its holdings in logistics warehouse owner Equalbase and in freight-forwarding provider Deltanvil for S$51.4 million. The proceeds will go into repaying 2 secured shareholders' loans at an aggregate principal sum of S$40.5 million, the company said in a Wednesday bourse filing. Prior to the announcement, shares of OKH Global finished Wednesday at S$0.024, down S$0.001 or 4 per cent.

Oiltek International, Koh Brothers Eco Engineering (KBEE): HQU 5HV Integrated process and renewable energy solutions provider Oiltek's initial public offering (IPO) on the Catalist board was subscribed at 4.3 times for S$0.23 per share. At the close of application at 12 pm on Mar 1, there were 767 applications for the 500,000 public tranche, which was 112.9 times subscribed with applicants applying for an aggregate of 56.4 million public offer shares. Post-listing, Oiltek will be spun off from Catalist-listed KBEE. Shares of Oiltek will begin trading on Thursday at 9 am, while KBEE shares ended flat at S$0.047 on Wednesday before the announcement.

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Top Glove Corporation: BVA A written parliamentary reply by Malaysia's Ministry of International Trade and Industry on Tuesday said the mainboard-listed glove manufacturer alone had booked a loss of RM3.6 billion (S$1.16 billion) over the Withhold Release Order period imposed by the US Customs and Border Protection. The Malaysian Rubber Gloves Manufacturers Association has since clarified on Wednesday that this amount refers to the estimated loss in "potential glove export revenue" incurred by all Malaysian glove manufacturers. Shares of Top Glove closed down S$0.005 or 0.8 per cent at S$0.655 on Wednesday, after the initial parliamentary reply.

City Developments Limited (CDL): C09 The mainboard-listed property developer has committed an undisclosed sum of investment to venture capital firm Taronga Ventures for its Asian built environment technology fund, RealTech Ventures Fund. In a press statement on Wednesday, Taronga Ventures said CDL has identified technology solutions in the fund's portfolio that have application across its residential, commercial and hotel asset portfolio. Shares of CDL ended down S$0.07 or 1 per cent at S$7.10 on Wednesday after the announcement.

Alpha DX Group: VVL The Catalist-listed learning solutions company Alpha DX Group on Wednesday said it has received a notice of termination from its sponsor, PrimePartners Corporate Finance (PPCF). This follows a writ of summons and statement of claim filed by PPCF over unpaid sums from Alpha DX. Alpha DX shares closed on Wednesday at S$0.113, up S$0.011 or 10.8 per cent, after the announcement.