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Stocks to watch: SIA, EMAS, Keppel, Vard, Abterra
THESE companies had developments or announcements that could influence their trading on Monday.
Singapore Airlines (SIA): The group has made its offer for Tiger Airways unconditional and extended the offer closing date from Jan 22 to Feb 5, it said on Monday morning. The offer had originally been conditional upon SIA reaching a stake of at least 90 per cent. It and its concert parties controlled a 79.22 per cent stake in Tiger as at 5pm on Jan 8.
EMAS Offshore: The offshore and marine player has sunk into the red for its first quarter ended Nov 30, 2015, it said on Monday morning. EMAS made a net loss of US$3.23 million for the three months ended Nov 30, a sharp plunge from its earnings of US$148.4 million the year before. The decline was on the back of a 32 per cent tumble in revenue year-on-year to US$49.75 million.
Keppel Corp: A unit of Keppel Infrastructure Holdings has handed over a waste-to-energy plant in Poland to the client on Dec 31, conglomerate Keppel Corp said on Monday morning. It said the Bialystok plant, which can process about 120,000 tonnes of waste per year, was delivered on time and within budget.
Vard Holdings: The shipbuilder has delivered its first vessel from its new Vard Promar shipyard in Brazil, it said on Monday morning. The vessel was a liquefied petroleum gas carrier, the second in a series to be delivered to Petrobras Transporte SA, it added. It noted that it had 29 vessels on its order book as at Dec 31, 2015.
Abterra: The minerals and resources firm said on Friday it would appoint a compliance adviser to give it advice on continuing listing obligations that would be considering recommendations from its nominating committee on ways to improve governance. This was after the Singapore Exchange rapped Abterra, its executive chairman Cai Sui Xin and chief executive officer Lau Yu for late or lack of disclosure of material information in two deals, which the bourse said had likely led to a false market for Abterra shares.