Here are some stocks to watch this Wednesday morning.
Sembcorp Industries has signed a long-term power purchase agreement (PPA) with Myanma Electric Power Enterprise (MEPE) for the supply of 225 megawatts of power for a period of 22 years. The power to be supplied will be produced by Sembcorp’s upcoming power project in Myingyan, Mandalay. The PPA is part of Myanmar’s Ministry of Electric Power (MOEP) build-own-transfer agreement for the project. Sembcorp shares closed at $2.98 on Tuesday.
Tokyo-listed Mamezou Holdings, which owns 59.92% of Xyec Holdings, is planning to take the company private. Mamezou is offering 30 cents eaach for all Xyec shares that it does not own. This represents a 50% premium over Xyec's last traded price of 20 cents on March 22. Mamezou intends to merge with Xyec within six months of the completion of the offer.
3Cnergy, formerly known as HSR Global, is planning to acquire a Johor Baru property firm Liberty Bridge for $64 million as it seeks to diversify its revenue streams outside Singapore. Liberty Bridge owns 10 parcels of undeveloped land, amounting to 37.4 acres (15 hectares) in total, in Puteri Harbour in Johor Baru. The group's largest shareholder is Icon Ventures Group, which owns a 50% stake. Icon Ventures' ultimate owner is Tong Kooi Ong, who is also the non-executive chairman and deemed controlling shareholder of 3Cnergy and owner of The Edge media group.
Parkway Life REIT completed the maiden issuance of 3.3 billion yen ($39.7 million) six-year senior unsecured fixed rate notes due 2022. The notes are issued by Parkway Life MTN, under the $500 million multicurrency medium term note programme. Proceeds from the notes issue will be used to refinance its existing Japanese yen loan due in Q1 2017 and to fund the recently announced acquisition of a nursing home facility in Japan. Parkway Life REIT closed 0.43% higher at $2.35.
Construction company Low Keng Huat's net profit for the fourth quarter fell 58% to $32.1 million from a year ago. Revenue dived 97% to $20.9 million due to a drop in revenue from the development and construction segments. For the full year, net profit fell 65% to $55.7 million on the back of a 93% tumble in revenue to $86.6 million. Shares of Low Keng Huat last closed at 61 cents.
Nera Telecommunications has secured contracts worth a total of $13.8 million relating to the supply, delivery, installation and maintenance of IP (Internet Protocol) network equipment for "a leading regional telecom and cellular operator in the Asia-Pacific region". Nera Tel's shares closed at 54 cents.
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Sembcorp Industries has signed a long-term power purchase agreement (PPA) with Myanma Electric Power Enterprise (MEPE) for the supply of 225 megawatts of power for a period of 22 years. The power to be supplied will be produced by Sembcorp’s upcoming power project in Myingyan, Mandalay. The PPA is part of Myanmar’s Ministry of Electric Power (MOEP) build-own-transfer agreement for the project. Sembcorp shares closed at $2.98 on Tuesday.
Tokyo-listed Mamezou Holdings, which owns 59.92% of Xyec Holdings, is planning to take the company private. Mamezou is offering 30 cents eaach for all Xyec shares that it does not own. This represents a 50% premium over Xyec's last traded price of 20 cents on March 22. Mamezou intends to merge with Xyec within six months of the completion of the offer.
3Cnergy, formerly known as HSR Global, is planning to acquire a Johor Baru property firm Liberty Bridge for $64 million as it seeks to diversify its revenue streams outside Singapore. Liberty Bridge owns 10 parcels of undeveloped land, amounting to 37.4 acres (15 hectares) in total, in Puteri Harbour in Johor Baru. The group's largest shareholder is Icon Ventures Group, which owns a 50% stake. Icon Ventures' ultimate owner is Tong Kooi Ong, who is also the non-executive chairman and deemed controlling shareholder of 3Cnergy and owner of The Edge media group.
Parkway Life REIT completed the maiden issuance of 3.3 billion yen ($39.7 million) six-year senior unsecured fixed rate notes due 2022. The notes are issued by Parkway Life MTN, under the $500 million multicurrency medium term note programme. Proceeds from the notes issue will be used to refinance its existing Japanese yen loan due in Q1 2017 and to fund the recently announced acquisition of a nursing home facility in Japan. Parkway Life REIT closed 0.43% higher at $2.35.
Construction company Low Keng Huat's net profit for the fourth quarter fell 58% to $32.1 million from a year ago. Revenue dived 97% to $20.9 million due to a drop in revenue from the development and construction segments. For the full year, net profit fell 65% to $55.7 million on the back of a 93% tumble in revenue to $86.6 million. Shares of Low Keng Huat last closed at 61 cents.
Nera Telecommunications has secured contracts worth a total of $13.8 million relating to the supply, delivery, installation and maintenance of IP (Internet Protocol) network equipment for "a leading regional telecom and cellular operator in the Asia-Pacific region". Nera Tel's shares closed at 54 cents.
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