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Stocks to watch: SembMarine, Ascendas India Trust, Tat Hong, Perennial

THE following companies saw new developments that may affect trading of their shares on Monday:

Sembcorp Marine (SembMarine): SembMarine has inked a contract with Shell Offshore Inc for work on a floating production unit. In an exchange filing on Monday, SembMarine said it will build and integrate the hull, topsides and living quarter's of Shell's Vito semi-submersible Floating Production Unit (FPU). The group expects a positive contribution to its earnings from the contract, but not a material impact on net tangible assets and earnings per share for the year ending Dec 31, 2018. Shares in SembMarine last traded at S$2.22 on Friday.


Ascendas India Trust: The manager of Ascendas India Trust has entered into a forward purchase agreement to acquire two buildings, aVance 5 and 6 from Phoenix Infocity, the master developer of the aVance Business Hub in Hyderabad. a-iTrust has also entered into a separate agreement with Phoenix to acquire five future buildings in aVance Business Hub 2, which is adjacent to aVance Business Hub. Both buildings will be acquired at a price that is not expected to exceed S$270 million. This includes construction funding via inter-corporate deposits and debentures issued by Phoenix to a-iTrust and its affiliates for S$177.3 million. Units in Ascendas India Trust last traded at S$1.06 per unit on Friday. 


Tat Hong: Crane supplier Tat Hong will soon be delisted from the Singapore Exchange. The buyout offer by chief executive Roland Ng, and the private equity arm of Standard Chartered crossed the 90 per cent threshold for valid acceptances last Friday. The offer has also turned unconditional and its closing date extended to 5.30pm on June 4. Since Tat Hong's free float has fallen below 90 per cent, delisting is inevitable and shareholders who do not accept the exit offer of 55 Singapore cents per share will be stuck with illiquid shares.

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Perennial Real Estate Holdings: Perennial has appointed Europe's luxury hotel group, Kempinski Hotels SA, to operate The Capitol Kempinski Hotel Singapore at Capitol Singapore. The Capitol Kempinski Hotel Singapore will be positioned as a luxury lifestyle destination. It will comprise 157 guest rooms and suites, situated within the restored Capitol Building and Stamford House. The hotel will also feature an international restaurant under the helm of a Michelin-starred chef. The counter last traded at S$0.865 on Friday, up 0.58 per cent, or 0.5 Singapore cent. 

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