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Stocks to watch: SembMarine, SIA, Ascendas Reit, Sarine, Pacific Star, Lifebrandz
THE following companies saw new developments that may affect trading of their shares on Monday:
Sembcorp Marine (SembMarine): The former president of SembMarine's wholly-owned Brazilian subsidiary Estaleiro Jurong Aracruz, Martin Cheah Kok Choon, has been charged by the Public Prosecutor's Office in Brazil. The charges against Cheah are for money laundering and corruption in connection with certain drilling rig construction contracts entered into by SembMarine subsidiaries with Sete Brasil in 2012. Shares of SembMarine closed down S$0.01, or 0.9 per cent to S$1.16 on Friday.
Singapore Airlines (SIA): SIA said in an updated Facebook post on Saturday that it will be suspending additional flights between Singapore and mainland China in February due to the growing scale of the Wuhan virus. SIA shares closed at S$8.55 on Friday, up one Singapore cent, or 0.1 per cent.
Ascendas Reit: Ascendas Reit's distribution per unit for its third quarter fell 12.3 per cent to 3.507 Singapore cents due to an enlarged number of units in issue after a rights issue in December last year. Ascendas Reit units closed three cents higher at S$3.15 on Friday, before the announcement.
Sarine Technologies: Sarine Technologies, which makes precision technology products for diamond and gemstone production, and its subsidiary Galatea have filed additional lawsuits in India pertaining to intellectual property infringement. The counter closed at S$0.325 on Friday, down 0.5 Singapore cent, or 1.5 per cent.
Pacific Star Development: The main contractor for Pacific Star Development's Posh Twelve property development project in Bangkok has stopped construction works at the site, amid disputes on payments and construction progress. The counter last traded at 8.8 Singapore cents on Jan 30, down 4.5 Singapore cents, or 33.8 per cent.
Lifebrandz: Lifebrandz is proposing to undertake a 50-to-1 share consolidation, followed by a rights issue that it will use to repay advances from two shareholders. Shares in Lifebrandz last traded at 0.7 Singapore cent on Friday, down 0.1 cent, or 12.5 per cent.
Perennial Real Estate Holdings: The developer, through its wholly-owned subsidiary Perennial EM, has formed a joint venture to invest in a mixed-use development in Colombo, Sri Lanka. The mixed-use development will comprise residential, office and retail components, Perennial Real Estate said on Friday night. Its shares were trading flat at 50.5 Singapore cents as at 9.08am on Monday.
Resources Global Development: The Catalist-listed Indonesian coal trading and shipping firm debuted on the Singapore Exchange on Friday, closing at S$0.22 which is 10 per cent above its initial public offering price of S$0.20. Resources Global had issued 15 million placement shares to raise gross proceeds of S$3 million.