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Stocks to watch: Manhattan Resources, Mapletree Industrial Trust, Federal International (2000)

THE following companies saw new developments which may affect trading of their shares on Thursday: 

Manhattan Resources: Mainboard-listed Manhattan Resources is proposing a non-underwritten one-to-one renounceable rights issue at 2.45 Singapore cents per share to raise net proceeds of about S$13.73 million. The proposed share price for the rights issue represents a discount of about 69.38 per cent to the stock's closing price of eight Singapore cents per share for trades done on Aug 10.

Mapletree Industrial Trust: Mapletree Industrial Trust has launched a S$2 billion euro medium term note programme, with DBS Bank and OCBC Bank as joint arrangers and dealers. Under the programme, issuers Mapletree Industrial Trust Treasury Company and DBS Trustee may issue notes or perpetual securities denominated in any currency as agreed between the dealer of the particular series or tranche of securities.

Federal International (2000): Oil and gas procurement specialist Federal International (2000) has won contracts totalling about US$7.3 million through two subsidiaries, Federal Hardware Engineering and PT Federal International, from customers based in Indonesia. Renewable energy supplier PT ATA Energi has appointed Federal as its procurement agent to supply energy storage systems. The project is expected to be completed by March 30, 2019, with shipment commencing from Jan 30, 2019.