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Stocks to watch: Otto Marine, SingPost, SIA, Q&M Dental
THE following listed companies made material announcements before the Singapore market opened on Wednesday:
Offshore chartering group Otto Marine said on Wednesday it has secured a contract worth up to A$94.8 million (S$95.3 million) through its unit. The vessel under the charter will be a 100-tonne Bollard Pull OSV (offshore support vessel) for FPSO (floating production storage and offloading) infield support in the gas field of 40-year life in Australia. The chartering contract is confirmed for five years from May 2017, with the option of an additional five-year extension.
The Securities Investors Association (Singapore) or Sias is said to have received a notice from Singapore Post's (SingPost) lawyers in early February over an anonymous letter that was sent to the association last year. SingPost's legal letter to Sias president and CEO David Gerald was said to ascertain if he had shared the anonymous letter, which is deemed defamatory, with other parties.
Singapore Airlines (SIA) will take delivery of 11 Airbus A350 aircraft this calendar year, which will allow it to grow its network and add new destinations after a period of little expansion on its long-haul routes.
Q&M Dental Group posted a 33 per cent increase in its net profit to S$11.4 million for its full year ended Dec 31, 2015. Revenue was up 16 per cent at S$97.8 million.