Singapore Stocks to Watch: SATS, Keppel Corp, Nanofilm

THE following companies saw new developments that may affect trading of their securities on Thursday (Sep 29):

INFLIGHT caterer and ground handler SATS has entered into an agreement to acquire Paris-based air cargo handler Worldwide Flight Services (WFS) for a maximum total consideration of about 1.3 billion euros (S$1.9 billion), a move that will propel the mainboard-listed company into a global player in the air cargo market.

In an announcement on Wednesday (Sep 28), SATS said this acquisition would result in an “unmatched global footprint” that would cover trade routes responsible for over 50 per cent of global air cargo volumes across the likes of Asia-Pacific, Europe and the Americas.

Keppel New Energy, a wholly owned subsidiary of Keppel Infrastructure, will explore the use of 100% ammonia as a fuel for a gas turbine or combined cycle gas turbine (CCGT) alongside Mitsubishi Heavy Industries (MHI) and global independent energy expert, DNV.

The parties will conduct the high-level Quantitative Risk Assessment on Jurong Island.

A SUBSIDIARY of Nanofilm Technologies has entered into a joint venture with 2 Chinese companies to provide coating solutions for advanced battery components and systems in electric vehicles, as well as energy-storage applications in China.

The joint venture will be named Sichuan Apex Technologies (ApexTech) and have an initial registered capital of 50 million yuan (S$10 million). This will be subscribed in cash and held by the subsidiary, Nanofilm Vacuum Coating (Shanghai), Shenzhen Everwin Precision Technology and Shanghai Hongshi Enterprise Management Partnership, in proportions of 60 per cent, 30 per cent and 10 percent respectively.