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Stocks to watch: Keppel, Oxley, Asian Pay Television Trust, ValueMax

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

Keppel Corp: Rig maker Keppel FELS has issued a notice of termination with regard to its rig-building contract with Awilco and has commenced arbitration to enforce its rights against the company, Keppel Corp said in a bourse filing on Monday evening. Shares of Keppel Corp closed at S$6.04 on Monday, down S$0.05 or 0.8 per cent, before the announcement.


Oxley Holdings: The Catalist-listed property developer and Oxley Beryl, which owns the former Chevron House, have entered into property sale agreements for the retail and commercial units in the 30 Raffles Place development for a total of some S$315 million. Shares of Oxley Holdings fell 0.5 Singapore cent or 2 per cent to close at 24.5 cents on Monday, before the announcement. 


Asian Pay Television Trust (APTT): The mainboard-listed pay TV firm's trustee-manager on Monday said it has received 474.7 million valid acceptances and excess applications for its proposed 1-for-4 rights issue, 1.3 times the total number of 361.3 million rights units offered. APTT units closed at 12.8 Singapore cents on Monday, down 0.1 cent or 0.8 per cent.


ValueMax Group: The mainboard-listed pawnbroker on Monday said it is not affected by government-mandated loan repayment or interest suspensions, as these are not mandatory for the firm, given that is is neither a member of the Association of Banks of Singapore nor the Finance House Association of Singapore. ValueMax shares closed flat at S$0.30 on Monday, before the announcement. 

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Nam Lee Pressed Metal Industries: The mainboard-listed fabricated metal producer and supplier has entered into a property sale agreement to acquire the leasehold interests in the whole of 4 Gul Way from an unrelated party, National-Oilwell, for S$18 million. Shares of Nam Lee ended Monday at 31.5 Singapore cents, down 0.5 cent, before the announcement.


Trading halt: Mapletree Industrial Trust's (MIT) manager on Tuesday announced a proposed private placement to raise gross proceeds of at least S$350 million to fund the proposed acquisition of a remaining 60 per cent stake in 14 data centres in the US. MIT called for a trading halt on Tuesday morning, before this announcement. Units of MIT closed flat at S$2.84 on Monday.

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