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Stocks to watch: Keppel Corporation, Koda Limited
KEPPEL Seghers Belgium NV, a wholly owned subsidiary of Keppel Infrastructure Holdings Pte Ltd, has secured two contracts to provide incineration technology and services for the Beijing Fangshan District Circular Economy Industrial Park Waste-to-Energy (WTE) plant and the Hunan Yueyang Municipal WTE plant.
The two contracts are worth over S$20 million and have a total incineration capacity of 2,220 tonnes per day.
Keppel Corporation opened at S$6.430 on Monday, up five Singapore cents, or 0.78 per cent as at 9.15 am.
KODA Limited said in a business update announcement that its gross profit margin has risen to 27.7 per cent in FY2016 from 23.6 per cent in FY2014.
On Monday, the company said that it has streamlined its operations since the 2008 global financial crisis by consolidating production facilities in Vietnam, relocating factories out of China, disposing the loss-making retail business in Vietnam, and disposing certain non-core assets for cash.
As a result of the revised business strategies and operational restructuring, the group reported a net profit of US$1.6 million for the fiscal year ended June 30, 2016, reversing losses in FY2014 and FY2015.
Koda opened at S$0.985 on Monday, up 3.5 Singapore cents, or 3.7 per cent, as at 9.13 am.