SG Morning Highlights: Keppel, Sembmarine begin talks on merger of O&M operations

Keppel, Sembmarine begin talks on merger of O&M operations
$Keppel (BN4.SG)$ and $Seatrium (S51.SG)$will kick off talks that could see a merger of their offshore and marine (O&M) operations and leave both companies in stronger positions. The groups on Thursday said they are in talks to. Sembmarine on Thursday also proposed a to explore the merger. Shares in Keppel closed at S$5.11 on Wednesday, up S$0.06 or 1.2 per cent, while shares in Sembmarine closed at 19.1 Singapore cents, up 0.2 cent or 1.1 per cent, before both groups called for trading halts on Thursday morning. Both counters will resume trading today.

Stocks to watch

$Prime US ReitUSD (OXMU.SG)$ : The real estate investment trust (Reit) on Friday announced that its private placement which raised US$80 million was more than two times subscribed. Units of Prime US Reit closed one US cent or 1.2 per cent higher at 88 US cents on Wednesday before its manager called for a trading halt on Thursday morning. The Reit will resume trading today.

$UOB (U11.SG)$ : The bank on Thursday said it will pump in more than S$200 million in digital innovation over the next three years to serve consumers, as it aims to double its wealth income by 2026. Shares in UOB closed at S$25.67 on Tuesday, down S$0.03 or 0.1 per cent.

$SGX (S68.SG)$ : The bourse operator's wholly-owned subsidiary, Singapore Exchange Regulation (SGX RegCo), said on Thursday it will broaden its range of enforcement powers and require issuers to implement a whistleblowing policy. Shares of SGX closed at S$11.07 on Thursday, down S$0.07 or 0.6 per cent, before the announcement.

$Sin Ghee Huat (B7K.SG)$ : The stainless steel manufacturer on Thursday said it is set to be delisted after the level of acceptances for its privatisation offer crossed the 90 per cent mark. Shares in Sin Ghee Huat closed flat at 26.5 Singapore cents on Thursday, before the announcement.

$Darco Water Tech (BLR.SG)$ : The mainboard-listed company on Thursday said it has flagged a whistleblower report concerning the alteration of a financial statement at its China-based subsidiary Wuhan Kaidi Water Service Co. The counter closed at 17.5 Singapore cents on Thursday, up 4.8 per cent or 0.8 cent, before the announcement.