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Stocks to watch: Terratech, Tritech, Mandarin Oriental, Qian Hu, OKH Global
THE following companies made announcements after the market closed on Tuesday that could affect their trading:
Premium marble producer Terratech Group will no longer be a unit of Tritech Group, an engineering firm, and might also face potential changes to its current board and management after Tritech decided to sell a 29 per cent stake in the firm. The latter also plans to divest its remaining stake of 33.9 per cent in Terratech.
Mandarin Oriental International, a subsidiary of mainboard-listed Jardine Strategic Holdings, said on Wednesday morning it is acquiring a Boston hotel it manages and the freehold land it is located on for US$140 million.
Ornamenal fish seller Qian Hu Corporation said on Tuesday evening it expects to make a loss for the fourth quarter ended Dec 31, 2015, though it expects to remain profitable for the full financial year. The group will announce its results on Jan 12.
Property developer OKH Global said its CEO and executive chairman Bon Ween Foong has had an Interpol notice issued against him in connection with a charge of "providing false statement for official document". OKH Global said it is not related to a commercial dispute the Interpol notice is believed to have arisen out of.