You are here
Stocks to watch: Keppel Corp, Metech, TTJ Holdings, Fortress Minerals, Wilton Resources
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Keppel Corporation: Its property arm is looking to buy a 30 per cent stake in Win Up Global which will ultimately own Westmin Plaza, an office and retail development in Guangzhou, China. Keppel Land China has entered into a share sale and shareholder loan transfer agreement with Chinese real estate developer Topchain Group for the proposed acquisition. The remaining 70 per cent stake in Win Up Global will continue to be held by Topchain. The investment amounted to about HK$141.4 million (S$24.8 million) in cash consideration and shareholder loans as at Sept 23, according to Keppel Corp’s bourse filing on Tuesday morning. Keppel Corp shares closed down S$0.04 or 0.7 per cent at S$6.04 on Monday.
Metech International: Its wholly-owned Chinese unit, Nolash Tech, has inked agreements with five companies to exclusively provide technical, operation and procurement services, the Catalist-listed firm announced in a bourse filing on Monday after trading hours. The aggregate annual service fee for the agreements is 10 million yuan (S$2 million), payable quarterly in advance. The first instalment for each client is due on Nov 1. Trading in shares of Metech had been halted on Friday morning, with the share price at S$0.142. The company lifted the halt on Monday evening after market close.
TTJ Holdings: The structural steel fabricator saw net profit dive 58 per cent to S$3.8 million for the financial year 2019 ended July. This translates to an earnings per share of 1.08 Singapore cents, compared to 2.55 cents a year ago. The company has declared a first and final dividend of 0.4 Singapore cent per share for the year, lower than the 0.7 cent dividend a year ago. Shares of TTJ closed flat at S$0.25 on Monday.
Fortress Minerals: The Catalist-listed firm's unit, Fortress Mining, has been fined RM40,000 (S$13,166) by a Malaysian court in relation to an accident at the subsidiary's Bukit Besi Mine. In a bourse filing on Monday, Fortress Minerals said that the unit has paid the fine, which was imposed under Malaysia's Occupational Safety and Health Act. Shares of Fortress Minerals closed flat at S$0.22 on Monday.
Wilton Resources Corporation: The gold miner on Tuesday morning requested for a trading halt before the market opened, pending the release of an announcement. On Sept 18, the Catalist-listed firm said it is proposing to raise S$3.3 million through the placement of 125 million new shares at 2.61 Singapore cents each. Shares in Wilton Resources last traded at 2.4 cents on Monday, down 4 per cent, or 0.1 cent.