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Stocks to watch: Xpress, Keppel, Global Logistic Properties
THE following stocks had announcements that could affect trading activity on Wednesday.
Xpress Holdings has signed a placement agreement with Chinese investor Ma Wei Dong to raise up to S$23 million. This follows the signing of a memorandum of understanding in December 2014 between Xpress founder Fong Kah Kuen and Mr Ma. The beleaguered printing firm has been contesting over S$2.4 million in alleged unpaid debt since July last year.
Keppel Corporation's wholly-owned subsidiary, Keppel Singmarine, has clinched two contracts worth over S$65 million. Under the first contract, Keppel Singmarine will build a multi-task anchor handling tug vessel for Seaways International. The second contract, awarded by Nakilat-Keppel Offshore & Marine, a joint venture shipyard in Qatar between Qatar's premier gas shipper Nakilat and Keppel O&M, is to provide technical services for the construction of a liftboat.
Global Logistic Properties (GLP) has signed new leasing agreements with six third-party logistics provider in China, totalling 84,000 square metres. The customers will use the facilities to support their distribution needs for e-commerce and food-related products, GLP said. This adds to the 80,000 sq m of leasing deals in China that the logistics facilities provider has announced in the past six months.