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Stocks to watch: Vallianz, Swiber, Sinarmas Land, KOP
THE following stocks made announcements after market close on Friday that could affect their trading on Monday morning.
Offshore marine services provider Vallianz Holdings said its US$1.2 billion order book comprises mainly contracts with third-party customers that are not related to Swiber Holdings and its subsidiaries, joint ventures or associates.
Swiber, which late on Friday night said it would be withdrawing its winding-up application to be placed under judicial management instead, announced on Monday morning that it is unable to pay the upcoming coupon payment for the series 001 Trust Certificates due on Aug 2. Trading in Swiber shares have been suspended since July 27.
Developers Sinarmas Land and KOP have agreed to develop parts of Nuvasa Bay, a high-end integrated residential and mixed-use development in Nongsa, Batam. Subsidiaries of both companies have signed a memorandum of understanding, to build landed houses and low-rise condominiums as well as mixed-use commercial and hospitality developments.