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Stocks to watch: Rich Capital, KrisEnergy, OKP Holdings, Chew's Group
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Rich Capital: Rich Capital, formerly known as Infinio Group, on Tuesday said it is planning to expand into the construction business with the proposed acquisition of two construction companies for up to S$43.98 million. The company has entered into a conditional share purchase agreement with Wang Zhen Wen and Rich-Link Group to acquire Rich-Link Construction (RLC) and Rich-Link Builders (RLB). Rich Capital shares last closed on Jan 3 flat at S$0.006.
KrisEnergy: The upstream oil and gas company said on Tuesday that oil production has restarted at the Wassana field in the G10/48 licence in the Gulf of Thailand following Tropical Storm Pabuk. The G10/48 contract area covers 1,525 sq km over the Southern Pattani Basin in water depths of up to 60 metres. KrisEnergy is the operator of G10/48, holding an 89 per cent working interest. Palang Sophon Limited holds the remaining 11 per cent. Shares of the company ended Tuesday's trading session at S$0.08, up S$0.002, or 2.56 per cent.
OKP Holdings: The construction engineering company on Tuesday said that the pre-trial conference scheduled for Jan 8 at 3pm regarding summonses from the Ministry of Manpower and the Building & Construction Authority over the PIE work-site collapse in July 2017 has been re-fixed. The pre-trial conference will be held on Jan 21, 2019, at 3pm. Its shares last closed on Tuesday unchanged at S$0.2.
Chew's Group: The company said on Tuesday that it would seek shareholders' approval to change its name and diversify its business, following the cessation of its business of producing and selling generic and designer eggs, liquid eggs, trading of spent grains and food processing in Singapore. This comes after it completed the sale of four units: Chew’s Agriculture, Chew’s Engineering Services, Chew’s Group Investment and Chew’s Group Marketing. The counter last traded at S$0.21 each on Nov 8.