Friday, April 8, 2016

SIA Engineering, TEE International, Ascendas REIT, CEFC, Memstar

Here are some stocks to watch this Friday morning.

SIA Engineering Company and Snecma, the developer of aircraft engines, have signed an agreement today appointing SIAEC as CFM International’s authorised on-site support (OSS) service provider for the LEAP-1A and LEAP-1B engines in Asia Pacific. SIA Engineering closed 0.28% lower at $3.60 on Thursday.

TEE International announced 3Q earnings of $0.6 million, compared with a loss of $0.1 million a year ago. Revenue for the quarter stood at $46.48 million, 7.8% higher than the previous year's $43.14 million, due mainly to higher revenue from ongoing engineering projects. TEE International ended at 22.5 cents.

Ascendas Funds Management (S), the manager of Ascendas Real Estate Investment Trust (A-Reit) announced that HSBC Institutional Trust Services (Singapore) - in its capacity as trustee of A-Reit - has issued $130 million 2.655% notes due 2021 to institutional investors. The notes are issued under the $5 billion Multicurrency Medium Term Note Programme established by HSBC on March 20, 2009. Ascendas REIT closed at $2.35.

Energy trading company CEFC International is in discussions with a party to acquire equity interest in a European company that owns certain oil and gas distribution network, logistics and storage facilities in Europe in the mid and downstream areas. No binding agreement in relation to the potential acquisition project has been entered into at this stage, it adds. CEFC closed at 24 cents.

Memstar Technology has terminated the proposed acquisition of Longmen Group which would have resulted in a reverse takeover (RTO) of Memstar. Memstar says Longmen Group had "failed to fulfil certain deliverables" under the RTO sale and purchase agreement. Memstar says it is now in discussions with professional advisers on the appropriate further course of action. It is also restarting its efforts to source for a suitable business to be acquired. Memstar last traded at 0.9 cent.

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