Stocks to watch: SATS, Sembmarine, UOB, QAF, New Silkroutes, Clearbridge Health

THE following companies saw new developments that may affect trading of their securities on Wednesday:

S58: An indirect subsidiary of the in-flight caterer on Tuesday agreed to buy 85 per cent of a food-manufacturing facility owner for 484.5 million baht (S$21 million) from Thailand-listed Bangkok Ranch. With this acquisition, SATS will own interests in 32 meal-production facilities in several markets. Shares of SATS closed on Tuesday up S$0.04 or 1 per cent at S$4.05, before the announcement.

S51: The marine and offshore engineering group has begun exploring alternative sources of skilled labour. This is likely to incur increased manpower costs for ongoing projects, the group said in its Tuesday update. There has been no cancellation of any of Sembmarine's existing projects to date. Prior to its announcement, shares of the group closed flat at S$0.20 on Tuesday.

U11: The bank on Tuesday said it commenced a consent solicitation process to seek approval to modify the terms and conditions of its £350 million (S$656 million) floating rate covered bonds due 2023. This is to facilitate a transition in the interest basis from Sterling Libor to Sterling Overnight Index Average. UOB ended Tuesday S$0.04 or 0.2 per cent higher at S$26.31, after the announcement was made.

Q01: The bread specialist plans to reward shareholders with a special dividend of S$0.02 per share upon completing the planned sale of its Australian pork business, which will result in estimated proceeds of A$148.1 million (S$151.8 million). On Tuesday, the group said it was expecting a gain on disposal at about S$10.8 million. Before the announcement, its shares closed flat at 95.5 Singapore cents.

BMT: The group on Tuesday said it received a letter of demand for an alleged sum of US$10.7 million from Iolani Shipping. New Silkroutes is a corporate guarantor for a lease-financing arrangement of a bare boat charter, entered into by its subsidiary TXZ Tankers. Shares of New Silkroutes closed 1.6 Singapore cents or 10.2 per cent lower at 14.1 cents on Tuesday, before the announcement.

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1H3: A lawsuit filed by its unit's joint venture partner has been dismissed by an Indonesian court due to a jurisdiction issue, the Catalist-listed company announced in a Tuesday bourse filing. Prior to that, shares of Clearbridge closed 0.1 Singapore cent or 0.7 per cent lower at 15 cents.