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Stocks to watch: Rotary Engineering, Alliance Mineral Assets, Citic Envirotech, Civmec, Keppel O&M, Midas, Roxy-Pacific, Spackman
THE following stocks made announcements after the market closed on Monday that might affect their trading on Tuesday:
Rotary Engineering has secured two projects worth more than US$120 million in the United Arab Emirates and Thailand to provide engineering, construction and maintenance services for tank storage projects.
Australian miner Alliance Mineral Assets has entered into a lithium rights joint venture (JV) agreement with Lithco, a unit of Australia-listed Tawana Resources, furthering a farm-in agreement both parties signed in February. The latest deal outlines the terms and conditions in which the JV will conduct exploration and, if warranted, mining operations of lithium rights at the Bald Hill tenements in Western Australia.
Citic Envirotech has secured credit facilities of up to 20 billion yuan (S$4.07 billion) for five years from China Merchants Bank to finance projects in the water and environmental sectors. The credit facilities will support the integrated environmental solutions provider in financing new projects in water treatment, river restoration, sludge and hazardous waste treatment, and public-private partnership projects in the environmental industry.
A joint venture of Civmec has been awarded an engineering, procurement and construction contract for the Gruyere Gold Project in Western Australia. Including the 50 per cent share of this project, Civmec's order book stands at about S$526 million..
Keppel Offshore & Marine (Keppel O&M) has inked a term sheet agreement for the proposed sale of its Rotterdam-based shipyard, Keppel Verolme, to Dutch firm Damen Shipyards Group following a strategic review. The proposed sale is in line with the company's efforts to optimise its operations and rationalise its global network of yards.
Midas Holdings said its joint-venture company, CRRC Nanjing Puzhen Rail Transport Co, has bagged a metro train car supply contract worth 543 million yuan (S$110 million) in China. The supply contract was awarded by Shanghai Rail Transit Line Two Development Co for the Shanghai Metro Line 2 with delivery scheduled between January 2018 and November 2018.
Roxy-Pacific's subsidiary, Roxy-Pacific Goulburn, has signed a heads of agreement with investment firm I-Prosperity Group and private firm Toga D&C to sell them its freehold office building at 59 Goulburn Street in Sydney for A$158 million (S$166.3 million).
Spackman Entertainment Group issued a positive profit guidance that it expects to report a net profit for the first quarter of financial year 2017 versus a net loss in the previous corresponding period.