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Stocks to watch: Sembcorp, Select Group, Swiber
THE company has signed memorandums of understanding with Mitsubishi Electric and Scinor (Asia) under an S$8 million initiative to test-bed new technologies for water under the Industrial Living Lab initiative.
First announced last September, it may allow Sembcorp to co-own intellectual property arising from the testing process. Should the results of the testing be positive, the firm hopes to work with its partners for preferential pricing for the new technologies once they are commercialised.
The counter closed up three Singapore cents at S$2.85 on Monday.
THE consortium that has taken over restaurant operator Select Group has extended its unconditional general offer until the business close of July 19.
The consortium, led by investment firm Dymon Asia Private Equity and including Select's co-founders, is offering 52.5 Singapore cents per share for shares of Select that it does not already own.
The offeror already owns or has received commitments for shares that represent about 98.56 per cent of Select's shares. The consortium plans to delist the company.
THE listed offshore marine player is looking into its legal options pertaining to the delayed completion of a preference share subscription agreement for a US$200 million investment in its wholly-owned subsidiary, Swiber Investment Limited.
The listed parent company said AMTC Ltd, which entered into an agreement on June 9 to subscribe for 1,000 preference shares in Swiber Investment for US$200 million, has requested to postpone the completion of the transaction.
The stock closed unchanged on Monday at S$0.179.