THE following companies saw new developments that may affect trading of their securities on Thursday (Sep1):
Singapore Technologies Engineering has been awarded a contract by the Kaohsiung City Mass Rapid Transit Bureau to provide turnkey rail services worth $1.4 billion.
The contract was awarded to ST Engineering’s Urban Solutions subsidiary as part of a consortium. This is part of a larger contract awarded to the consortium with Siemens Mobility and Stadler Rail, which will provide the signalling system and rolling stock respectively.
Sembcorp Marine: UOB Kay Hian’s Adrian Loh has maintained his “overweight” recommendation for the offshore sector, giving “buy” ratings to his top three picks, namely, Keppel Corp, Sembcorp Marine and Yangzijiang.
He also expects industry activity to pick up in 2022 and 2023, highlighting that the demand for production assets appears to have “meaningful upside” in the next few years. This could have positive ramifications for both Keppel Corp and Sembcorp Marine, Loh thinks.
Wing Tai China, a wholly-owned subsidiary of Wing Tai Holdings, has acquired the remaining 50% shares in Winnoma Investment (Winnoma) from its joint venture partners, Savills IM Asian Property II SICAV-SIF and Inica Holding S.à.r.l. (INICA), for a total consideration of US$18.3 million ($25.6 million).
The consideration was arrived at on a willing-buyer and willing-seller basis and was paid in cash upon completion of the transaction which is simultaneous with the signing of the share sale agreement.