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Stocks to watch: Lian Beng, Trek 2000, ST Engineering, CSE Global
THE following companies made announcements that may affect trading of their shares on Tuesday:
Lian Beng: Lian Beng on Monday posted a 21.3 per cent increase in net profit to S$7.7 million for its second quarter ended Nov 30, 2018. Revenue fell 15.3 per cent to S$79.9 million, mainly due to lower revenue from its property development segment, offset by an increase in revenue from the construction and investment holding segments. Earnings per share rose to 1.55 Singapore cents as at Nov 30, 2018, from 1.28 Singapore cents a year ago.
Trek 2000 International: Thumb drive maker Trek 2000 International has injected US$3 million into solar energy firm Terrenus Energy for a 7.5 per cent stake, in a bid to enter the renewable energy industry. Trek and Terrenus Energy will collaborate on smart renewable power systems by tapping Trek's research and development capabilities. Terrenus Energy offers solar energy systems through the installation of solar panels. In 2018, Terrenus Energy clinched its first solar project in Singapore, with JTC to build the country's first solar farm on Jurong Island. That year, the firm also signed a memorandum of understanding with its Chinese partner for the installation of a 250-megawatt solar power plant for their chemical plants and logistic hubs across China.
ST Engineering: ST Engineering’s marine arm has won S$560 million of new contracts in the last quarter of 2018. The Ministry of Home Affairs has awarded it a contract for the design, construction and maintenance of Fast Patrol Boats for the Singapore Police Coast Guard. ST Engineering and Siemens have jointly received an order for a SeaFloat barge-mounted power plant from Seaboard Corporation subsidiary, Transcontinental Capital Corporation (Bermuda), an independent power producer with operations in Dominican Republic.
CSE Global: Technology group CSE Global on Monday said that it has secured infrastructure project contracts worth a combined S$84.8 million in the fourth quarter of 2018. This brings its full-year 2018 orders to S$150.5 million, a 43.6 per cent increase over S$104.9 million in 2017. These new orders include government contracts in Singapore involving projects ranging from process control solutions and systems, telecommunication and security systems, and maintenance works.