Singapore Stocks to Watch: Yangzijiang Shipbuilding, SIIC, EC World Reit, Fortress Minerals

Tiger Newspress2022-07-07

THE following companies saw new developments that may affect trading of their securities on Thursday (Jul 7):

YANGZIJIANG Shipbuilding together with its subsidiaries, has clinched orders for 4 units of 8,000 TEU Liquefied Natural Gas dual-fuel containerships from repeat customer Pacific International Lines (PIL). This brings the total number of new orders secured this year to US$990 million, for 16 vessels.

The shipping company said on Wednesday (Jul 6) that the new ships will be delivered progressively in 2025.

MAINBOARD-LISTED SIIC Environment announced on Wednesday (Jul 6) that it will divest all its equity interest in waste treatment and incineration subsidiary Hongkong Navy New Energy (Dazhou) for RMB283.3 million (S$59.1 million)

In its bourse filing, the wastewater treatment company said that the purchaser, Sichuan SIIC Ecological Company, is not an “interested person” and that the consideration was determined after arm’s-length negotiations between both parties.

EC World real estate investment trust’s (Reit) manager said on Wednesday (Jul 6) that it has successfully extended the maturity date of its outstanding onshore and offshore facilities to Apr 30, 2023.

The Reit’s manager noted that this would give it enough time to complete an ongoing refinancing exercise.

CATALIST-LISTED Fortress Minerals posted a 41.8 per cent decline in net profit after tax to US$4.2 million for its first quarter ended May 31, 2022, from US$7.2 million a year earlier.

Revenue for the quarter declined 15.5 per cent to US$14.6 million, down from US$17.3 million the year before.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Frente
2022-07-07
Frente
Ok
4West
2022-07-07
4West
Where r the ships being build?
BhaskarB
2022-07-07
BhaskarB
Ok
BhaskarB
2022-07-07
BhaskarB
Ok
LiliMe
2022-07-07
LiliMe
Noted
TheEndIsNear
2022-07-07
TheEndIsNear
Watching

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This brings the total number of new orders secured this year to US$990 million, for 16 vessels.</p><p>The shipping company said on Wednesday (Jul 6) that the new ships will be delivered progressively in 2025.</p><p><b>MAINBOARD-LISTED </b><b>SIIC Environment</b> announced on Wednesday (Jul 6) that it will divest all its equity interest in waste treatment and incineration subsidiary Hongkong Navy New Energy (Dazhou) for RMB283.3 million (S$59.1 million)</p><p>In its bourse filing, the wastewater treatment company said that the purchaser, Sichuan SIIC Ecological Company, is not an “interested person” and that the consideration was determined after arm’s-length negotiations between both parties.</p><p><b>EC World real estate investment trust’s </b>(Reit) manager said on Wednesday (Jul 6) that it has successfully extended the maturity date of its outstanding onshore and offshore facilities to Apr 30, 2023.</p><p>The Reit’s manager noted that this would give it enough time to complete an ongoing refinancing exercise.</p><p>CATALIST-LISTED <b>Fortress Minerals </b>posted a 41.8 per cent decline in net profit after tax to US$4.2 million for its first quarter ended May 31, 2022, from US$7.2 million a year earlier.</p><p>Revenue for the quarter declined 15.5 per cent to US$14.6 million, down from US$17.3 million the year before.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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