Monday, December 28, 2015

Geo Energy, Singapore Myanmar Investco, Wee Hur, Global Yellow Pages

Here are some stocks to watch this Monday morning.

Geo Energy Resources, the coal-mining group, has entered into a conditional sale-and-purchase agreement to buy the remaining 34% shareholding interest in Borneo International Resources Pte Ltd that it does not already own for US$25 million ($35 million), the company announced on Dec 26. Borneo International Resources indirectly holds an effective equity interest of 98.96% in PT Sungai Danau Jaya (SDJ), which holds coal-mining concession in South Kalimantan, Indonesia. Geo Energy closed at 14.9 cents on Christmas eve.

Singapore Myanmar Investco Limited (SMI) has announced that it will be operating retail space of some 6,725 sqm at Yangon International Airport’s new Terminal 2 for five years, and an option for another five, starting from March 2016. The new terminal will gives the airport the capacity to handle more than triple the number of international passengers travelling to the country’s capitol city. SMI closed unchanged at 40 cents on Thursday.

Property firm Wee Hur Holdings on Thursday said that it has bought an office building and an adjoining piece of land in Brisbane, Australia, for A$63 million ($64.3 million). The property - with a net lettable area of about 14,000 square metres - is found in the central business district of Brisbane, and is currently fully leased to the Queensland State government for rental income. Shares of Wee Hur gained half a cent to finish at $0.265.

Information directory firm Global Yellow Pages (GYP) said that it has lodged a report with the Commercial Affairs Department of the Singapore Police Force in relation to potentially irregular transactions in its subsidiary Singapore River Explorer (SRE). Global Yellow Pages closed Thursday trading at $0.183 before the latest announcement was made.

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