Stocks to watch: Keppel, Tee International, Parkson Retail Asia, Fabchem, SGX, Stocks


Tue, Oct 13, 2020 – 8:48 AM


UPDATED Tue, Oct 13, 2020 – 9:34 AM

THE following companies saw new developments that may affect trading of their shares on Tuesday:

Keppel Corp: The conglomerate on Monday evening said Keppel Telecommunications & Transportation is divesting its 24.01 per cent equity interest in Thailand-listed Business Online Public Company for about 827.6 million baht (S$36 million). Separately, Keppel associate Floatel International’s forbearance agreement with its bondholders has been extended again, and covers some US$22.8 million in coupon payments coming due. Keppel shares gained S$0.06 or 1.3 per cent to close at S$4.55, before these announcements.

iFast Corp: The mainboard-listed brokerage and wealth manager said its to-be-released unaudited financial results for the third quarter ended Sept 30 may explain unusual price movements in the company’s shares on Monday. The counter ended S$0.22 or 8.5 per cent higher at S$2.82, eliciting a set of queries from SGX RegCo at 4.55pm.

Tee International: The mainboard-listed firm said independent auditor Foo Kon Tan LLP issued a disclaimer of opinion on the group’s financial statements for the financial year ended May 31, 2020. Shares of Tee International closed flat at S$0.03 on Monday, before the announcement.

Parkson Retail Asia: Its auditor has flagged the department store operator’s ability to continue as a going concern, given that its total liabilities exceeded total assets by about S$66 million. Shares of the watch-list stock ended flat at 1.4 Singapore cents on Monday.

Fabchem China: The mainboard-listed firm on Monday entered into a non-binding term sheet for the acquisition of Australian power plant operator Renewable Power Management. This will result in a reverse takeover should the acquisition go through. After market close on Monday, the watch-listed company asked for its trading halt to be lifted. The counter last traded at S$0.15 before trading was halted on Oct 9.

Singapore Exchange (SGX): The total market turnover value of securities on the Singapore bourse rose 23 per cent from the preceding year in September to S$24.3 billion, while the securities daily average value climbed 18 per cent to S$1.11 billion. SGX closed S$0.03 or 0.33 per cent higher at S$9.10 on Monday.

Civmec Limited: The dual-listed construction and engineering group on Monday announced it has bagged multiple projects with a combined contract value totalling about A$175 million (S$171.3 million). Shares in Civmec closed flat at S$0.37 on Monday before the announcement.

AusGroup: Its subsidiary has been awarded a five-year scaffold and insulation services contract with Esso (Thailand) Public Company, the group said in a regulatory statement on Monday. Mainboard-listed AusGroup ended flat at S$0.02 on Monday before the announcement.





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