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Stocks to watch: Sembcorp Industries, Citic Envirotech
THE following companies saw new developments that may affect trading of their shares on Monday:
Sembcorp Industries: Sembcorp Industries Ltd's (Sembcorp) wholly owned unit, Sembcorp Solar Singapore (Sembcorp Solar), has won a 50-megawatt project from the Housing & Development Board (HDB) and the Singapore Economic Development Board (EDB). As the winning bidder for the project, Sembcorp will build, own, operate and maintain grid-tied rooftop solar systems with a total capacity of 50 megawatt across 848 HDB blocks under the West Coast and Choa Chu Kang Town Councils and 27 other government sites in Singapore. The deal turns Sembcorp into a major solar player in Singapore. The counter last traded at S$2.76 apiece on Friday.
Citic Envirotech: Environmental engineering company Citic Envirotech has won a 2.5 billion yuan (about S$515 million) ecological restoration contract in Meigu County, in China's Sichuan province. The contract involves designing an ecological environmental system for about 20 million square metres of land across 36 townships. It will contribute positively to the group's revenue for the financial years 2018 to 2020. The counter last traded at S$0.56 apiece on Friday.