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Stocks to watch: GuocoLand, KIT, Tee Intl, Tee Land, DBS, OCBC, Nico Steel

THE following companies saw new developments that may affect trading of their securities on Tuesday:

GuocoLand: The property developer's wholly-owned subsidiary GLL IHT will issue at par S$200 million worth of new notes maturing on Aug 10, 2025. The 5.5-year unsubordinated, unsecured notes carry a coupon of 3.4 per cent and will be guaranteed by GuocoLand, according to a term sheet seen by The Business Times. GuocoLand shares fell S$0.04 or 2.2 per cent to close at S$1.79 on Monday.


Keppel Infrastructure Trust (KIT): Ixom Watercare, a wholly-owned subsidiary of KIT, has finalised the acquisition of Medora Environmental - a source water management solutions provider from the US. Units of KIT closed flat at S$0.525 on Monday, before the announcement. 


Tee International, Tee Land: Mainboard-listed Tee International has completed the sale of its 63.3 per cent stake in Tee Land to a unit of Malaysia's Amcorp Group for S$50.6 million in cash, or S$0.179 per share. Before both companies called for a trading halt on Jan 30, shares of Tee Land closed at S$0.174 on Jan 29, down 0.1 Singapore cent, or 0.6 per cent, while Tee International shares rose 0.1 cent or 2.1 per cent to S$0.049. On Tuesday morning, they requested to lift the trading halts.


DBS, OCBC Bank: Banks including Singapore lenders DBS and OCBC have temporarily closed several branches or reduced their services available in Hong Kong and Macau, in light of the worsening virus outbreak. Shares of DBS fell S$0.47 to close at S$24.90 on Monday, while OCBC lost S$0.12 to end trading at S$10.71.

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Nico Steel Holdings: The mainboard-listed metals supplier on Monday said its operations in Suzhou, China, will be temporarily closed until Feb 9 in line with the latest directives by the Jiangsu Provincial People's Government as a precautionary measure against the novel coronavirus. Shares of Nico Steel last closed at S$0.004 on Jan 30. 


KTL Global: The mainboard-listed offshore and marine equipment dealer on Monday evening said Chinese employees of its subsidiary, Bluegas, may not be able to work due to restrictions on transportation and movements within China. In addition, the virus outbreak has resulted in the offices of Bluegas' vendors, suppliers and clients being temporarily closed. The counter last closed at S$0.03 on Jan 22. 


Acromec: Specialist engineering firm Acromec has secured a S$19.5 million sub-contract to supply, deliver and install air-conditioning and mechanical ventilation systems at a new medical building in the Singapore General Hospital campus. Shares of Acromec closed S$0.006 or 7.5 per cent lower at S$0.074 on Monday, before the announcement.

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