Tuesday, June 14, 2016

Changjiang Fertilizer, Pacific Radiance, Ley Choon, Secura, Cityneon

Here are some stocks that could move the market this Tuesday morning.

Changjiang Fertilizer has entered into a sale and purchase agreement with CTE Resources to acquire a 50% stake in developer Chiu Teng 8 (CT8) for about $9.7 million. If successfully completed, the acquisition will constitute a Reverse Takeover or RTO of Changjiang Fertilizer. CT8 is the developer of light industrial freehold development Tagore 8 which was completed in last September. Trading of Changjiang shares are currently suspended.

Pacific Radiance’s subsidiary Pacific Crest has issued two notices for arbitration in Hong Kong against two Chinese shipbuilders. This comes after two contracts with the shipyards, both dated May 2013, were cancelled for the failure of the shipyards to deliver two platform supply vessels in accordance to their obligations. Pacific Crest is claiming the refund of the pre-delivery instalments paid to the shipyards of US$10.6 million plus interest. Pacific Radiance last traded at 29 cents.

Ley Choon Group has won a $33.6 million contract from the Public Utilities Board. The contract is for the supply and laying of water pipelines from AYE and Henderson Road to Keppel Road, and Keppel Road to Maxwell Road and Shenton Way, from 2016 to 2019. Ley Choon last traded at 2.2 cents.

Security provider Secura Group’s subsidiary Soverus Group has signed an MoU with the Union of Security Employees (USE) to co-develop a Progressive Wage Model (PWM) for specialised career tracks. Soverus also signed another agreement with the union to follow guidelines pertaining to the employment of security officers. Secure shares closed 0.65% higher at 16 cents.

Cityneon’s subsidiary Victory Hill Exhibitions, Science Centre Singapore and The Walt Disney Company Southeast Asia, will bring Marvel AVENGERS S.T.A.T.I.O.N. exhibition to the Science Centre Singapore this October. The travelling exhibition has already been held at New York, Seoul and Paris. Shares of Cityneon closed 1.23% higher at 82 cents on Monday.

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