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Stocks to watch: Otto Marine, Miyoshi, Noble


THE following stocks had announcements or developments that could affect their trading activity on Monday.

Otto Marine: One of its units has taken a US$26 million term loan facility from a US investment firm that is linked to one of Otto's directors. The loan conditions will be breached if one of Otto's controlling shareholders, Yaw Chee Siew, holds less than 51 per cent of Otto.

Miyoshi: The engineering group reported a net profit of S$777,000 for its third quarter ended May 31, 2015 - a reversal from the S$520,000 net loss it posted a year ago. Revenue rose 5.4 per cent to S$13.5 million for the quarter, driven by higher contribution from its consumer electronics segment.

Noble Group: The commodities firm will redeem in whole all outstanding 6.625 per cent senior notes due 2020 on Aug 5 this year. As at July 3, these were worth US$235 million.

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