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Stocks to watch: Kimly, Chip Eng Seng, Sembcorp Industries
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Kimly Limited: Kimly, an operator of a chain of coffee shops in Singapore, has acquired canned-drinks manufacturer Asian Story Corporation (ASC) for S$16 million in cash, it said on Monday. ASC sells an assortment of Asian drinks such as chrysanthemum tea, winter melon tea and lemon barley under the Asian Story brand. It has a 7.7 per cent market share in Singapore, a regulatory filing by Kimly showed. The counter last traded at 37 Singapore cents apiece on Monday.
Chip Eng Seng Corporation: Construction and property company Chip Eng Seng has inked an interested-person deal for a vacant office building in Australia, which it plans to turn into a hotel. It will pay A$14.5 million (S$14.6 million) for the 1,283 sq m freehold site in Adelaide, with the price reached after an internal evaluation, the company said on Monday. Chip Eng Seng closed flat at 84 Singapore cents, before the announcement.
Sembcorp Industries: Sembcorp Industries on Monday said that it has invested in an estimated 77 per cent stake in an Australian clean energy firm for A$5 million (S$5 million), as it moves to expand into the Australian renewable energy market. The deal with Australia's Vellocet Clean Energy (VCE) was signed with Sembcorp's wholly owned subsidiary, Sembcorp Energy Australia. The counter closed at S$2.72 on Monday, down 1.1 per cent.