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Stocks to watch: QT Vascular, Perennial, Keppel Corp, BH Global
THE following companies saw new developments that may affect trading of their shares on Thursday:
QT Vascular: The Medtech company on Wednesday evening said it has, together with other third party investors, agreed to invest in a stake in research and development firm Sano V through a share subscription for S$1.23 million. The subscription will comprise some 293,018 new voting convertible preferred shares designated as "Series B preferred shares" at an issue price of S$4.21 per share. QT Vascular's proportion is 83,135 Series B preferred shares amounting to about S$350,000. The counter closed flat at 0.8 Singapore cent on Wednesday.
Perennial Real Estate Holdings: The company through its 45 per cent owned joint venture (JV) vehicle, Perennial HC Holdings, has won the tender to develop two plots of land next to the Kunming South High Speed Railway (HSR) in Yunnan, China, at a land tender price of 341.5 million yuan (about S$67.6 million). The tender was awarded by the People’s Government of Chenggong District, Kunming, and the investment will be funded via equity capital calls from shareholders of the JV vehicle, Perennial said. Shares in Perennial closed down 4.8 per cent, or three Singapore cents to S$0.60 apiece on Wednesday.
Keppel Corporation: Keppel Corporation's subsidiary Keppel Land China has secured a 10.97 hectare residential site in the Sino-Singapore Tianjin Eco-City for a total consideration of 1.07 billion yuan (S$214 million). A total of 392 units of terrace houses and 180 units of low-rise apartments will be developed on the site. The project is expected to be launched in Q4 of 2019, and is targeted at upper-middle income homebuyers. The total development cost for the project is expected to be in excess of 1.9 billion yuan. Keppel Corp shares last traded at S$6.01 apiece on Wednesday.
BH Global Corporation: BH Global said on Wednesday that it has bagged two contracts totalling S$7.6 million. The first contract is for the supply of cables for a FPSO (floating production storage and offloading vessel) project to a repeat customer, and the second is for the supply of LED lighting systems to an overseas customer. BH Global provides supply chain management, security and manufacturing solutions to marine and offshore industries. The contract wins are expected to be delivered in 2019. BH Global has been placed under Singapore Exchange's watch list, and shares of the company last traded at S$0.16 apiece on Aug 24.