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Singapore Stocks to Watch: EC World Reit, Sembmarine, Keppel Corp

Tiger Newspress2022-12-27

THE following companies saw new developments that may affect trading of their securities on Tuesday (Dec 27):

The manager of EC World REIT says it is in “discussions” with the lenders of its existing offshore bank loans and existing onshore bank loans to work out a “debt repayment plan” pertaining to the mandatory repayment.

The mandatory repayment is due on Dec 31. Under the repayment plan, the REIT’s sponsor will provide funding for the REIT to pay its lenders a portion of the mandatory repayment by Dec 31, says the REIT manager in its Dec 26 statement.

Sembcorp Marine (Sembmarine) is working on convening an extraordinary general meeting (EGM) on its proposed merger with Keppel Offshore & Marine as soon as possible. The EGM is expected to take place in January 2023.

In a statement filed last Friday (Dec 23) to the bourse, the offshore and marine player said that submissions have been made to the authorities on its proposed merger with the Keppel Corp unit.

The proposed merger of the two offshore and marine player giants was first announced in April 2022 with plans to carry out separate schemes of arrangement that will result in Keppel O&M and Sembmarine becoming wholly-owned subsidiaries of the combined entity.

Terms of this deal were revised in October such that Sembmarine would directly acquire Keppel O&M from Keppel Corp at the revised equity-value exchange ratio of 46:54, as compared with the earlier 44:56 (Sembmarine:Keppel O&M).

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  • zaiver
    ·2022-12-27
    Like you head
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  • MrHuattt
    ·2022-12-27
    Ok
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    • MrHuattt
      sure
      2022-12-27
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  • Stingray8
    ·2022-12-27
    K
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  • 来人
    ·2022-12-27
    Ok 
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  • nerdbull1669
    ·2022-12-27
    Good
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  • HS94W
    ·2022-12-27
    [Smile] 
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  • Sephiro
    ·2022-12-27
    Ok
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  • Prosperity88
    ·2022-12-27
    Ok
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  • Ghtan
    ·2022-12-27
    Pls like 
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    • WayneLee
      Okay
      2022-12-27
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  • riserr
    ·2022-12-27
    Good to go
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  • xiaobaii
    ·2022-12-27
    like & comment please
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    • Ghtan
      Oki
      2022-12-27
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  • V K
    ·2022-12-27
    Pls like tyvm[Happy] 
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    • V K
      tyvm
      2022-12-27
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    • xiaobaii
      like & comment please
      2022-12-27
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