Stocks to watch: Rex, Lian Beng, Raffles Education, Beng Kuang Marine

THE following companies saw new developments that may affect trading of their securities on Tuesday (Oct 19):

Rex International Holding: 5WH The oil exploration and production company is looking to transfer its listing from the Singapore Exchange's Catalist board to the mainboard, noting that its market capitalisation is now above S$300 million, it said on Tuesday (Oct 19). Rex International also said it has adopted a dividend policy for its FY2021 results. Shares of the company last closed at S$0.325 on Monday, up S$0.015 or 4.8 per cent.

Lian Beng Group: L03 The group's 60 per cent-owned subsidiary, United Tec Construction, has won a contract worth about S$118 million to build a residential flat development at Ang Mo Kio Avenue 1, the mainboard-listed company announced on Monday (Oct 18). The contract is awarded by United Venture Development (2021), a joint venture between UOL Group, Singapore Land Group and Kheng Leong Company. Shares of Lian Beng closed flat at S$0.505 on Oct 18, before the announcement.

Beng Kuang Marine: BEZ The company said on Monday (Oct 18) that it is set to raise about S$3.4 million via a share placement exercise, with its chief executive, Yong Jiunn Run, taking up a portion. Beng Kuang will issue 37.2 million new shares at S$0.09 per share, priced at a 9 per cent discount to its volume-weighted average price of S$0.0989 per share on Oct 14. Shares of Beng Kuang last traded at S$0.099, before the company called for a trading halt on Monday morning. The counter resumes trading on Tuesday (Oct 19).

Trading halt: Raffles Education Corp (REC) NR7on Tuesday (Oct 19) morning called for a trading halt, pending the release of an announcement. This comes after shares of the mainboard-listed private school operator hit new lows on Monday (Oct 18) following a letter by tycoon Oei Hong Leong to the company's board. REC said it viewed Oei's letter as containing "bare allegations and material inaccuracies which are not substantiated". Shares of the group ended Monday down S$0.021 or 25.6 per cent at S$0.061, before the response was filed.