Wednesday, March 9, 2016

Noble, Hyflux, Mencast, Fabchem China, China Yongsheng, China Gaoxian, Keppel, Vicplas International

The following stocks may be in focus today:

Global energy firm Noble Group is in the market with a US$2.5 billion ($3.5 billion), one-year borrowing base revolving credit facility that will refinance existing debt due later this year, banking sources told Thomson Reuters LPC.

Hyflux Ltd has been given a letter of intent for a contract by the General Authority for the Suez Canal Economic Zone to construct the Ain Sokhna Integrated Water and Power Project in Egypt. The total value of the engineering, procurement and construction contract is US$500 million ($690 million), the company says, with construction slated to start once contract terms have been finalised.

Mencast Holdings has entered into a binding term sheet with Stone Marine Overseas and Langham Industries to buy Stone Marine Singapore. The offshore & engineering, marine and energy services provider will pay around $2.5 million less the aggregate amount of all of Stone Marine's outstanding debt.

Fabchem China expects to report a net loss for the fourth quarter and full year ended March 31, 2016. The losses stem mainly from the temporary suspension of its booster production activities and the challenging market conditions in China, the manufacturer of explosive products says in a profit warning on Tuesday.

China Gaoxian Fibre Fabric Holdings is facing a claim in South Korea from Daewoo Securities Co for an alleged breach of an underwriting deal from 2010. The claim is for 1 billion Korean Won ($1.15 million) in damages.

Transocean Ltd announced on Tuesday an agreement with Keppel Offshore & Marine Ltd's shipyard, Keppel FELS, to defer the delivery and related payments of five high-specification jackups until 2020.

China Yongsheng has appointed KGI Fraser Securities as the independent financial adviser (IFA) for its privatisation deal. The concrete supplier is being taken private at 3.2 cents

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