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Stocks to watch: Singtel, Sembmarine, Keppel, New Silkroutes, CRCT
THE following companies saw new developments that may affect trading of their securities on Thursday:
Singapore Telecommunications (Singtel): The telco on Thursday said its group chief executive officer (CEO) Chua Sock Koong will retire. The board has appointed Yuen Kuan Moon, who is CEO of Singtel's Singapore consumer business and the chief digital officer, to succeed her. Singtel shares closed at S$2.12 on Wednesday, up S$0.02 or 1 per cent.
Sembcorp Marine (Sembmarine): The stock rose on Wednesday as investors appeared to see a heightened possibility of a highly-speculated offshore and marine (O&M) merger. Sembmarine shares hit an intraday high of 15.3 Singapore cents at 10am, before ending the day up 0.2 cent or 1.4 per cent at 14.6 cents. It was the most actively traded counter.
Keppel Corp: Analysts and investors cheered the conglomerate's latest updates, when Keppel said it had identified some S$17.5 billion in assets that can be monetised over time and it would be conducting a strategic review of its O&M business. After touching the day's high of S$4.58, Keppel shares finished at S$4.45 on Wednesday, up S$0.15 or 3.5 per cent.
New Silkroutes: The mainboard-listed healthcare provider on Wednesday disclosed that its CEO Goh Jin Hian and finance director William Teo are assisting the Singapore Police Force's Commercial Affairs Department with investigations. New Silkroutes shares fell 0.4 Singapore cent or 3.4 per cent to end at 11.4 cents on Wednesday, before the announcement.
CapitaLand Retail China Trust (CRCT): It will be expanding its investment strategy beyond the retail sector to include assets that are used for office and industrial purposes, CRCT's manager announced on Wednesday after market close. CRCT units finished the day at S$1.11, down S$0.01 or 0.9 per cent.
Indofood Agri Resources: The agribusiness group said on Thursday that its joint ventures have proposed to reorganise and consolidate their sugar assets and operations in Brazil into one legal structure. The mainboard-listed counter closed flat at 29.5 Singapore cents on Wednesday.
Kitchen Culture: The Catalist-listed kitchen equipment supplier is partnering Ooway Technology to offer services including credit-rating services and an integrated supply chain finance solution for e-commerce merchants operating in Hong Kong. Kitchen Culture lifted its trading halt on Wednesday night. Before the halt, its shares closed at 13.5 Singapore cents on Tuesday.
Aoxin Q&M Dental Group: The Catalist-listed firm is in discussions with a third party for a possible transaction involving its stake in its wholly-owned subsidiary. Aoxin Q&M shares last traded at 13.5 Singapore cents on Aug 28.