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Stocks In Focus SG (Nordic, Tat Hong Hldgs, United Envirotech) – 20/04/15
Nordic Group announced that its wholly-owned subsidiary, Multiheight Scaffolding, has been awarded a contract worth approximately $7 million, to provide labour and materials to perform scaffolding work and render scaffolding maintenance for the Carboxylate Project (CP). CP is for the addition of 3 new process units to the Chevron Plant and the associated production unit capabilities are expected to meet the growing demand of the Asia-Pacific region for the next 3 to 7 years. The project will continue up to the first quarter of 2017 with bulk of the work done by 2016.
Tat Hong Holdings reported on 17 April 2015 that it is expecting a loss for its fourth quarter ending 31 March 2015. However, the firm still expects to remain in the black for FY15 as its underlying performance in the 4Q15 remained stable. In its third quarter ended 31 December 2014, it reorded a 63 percent drop in net profits due to weaker performance from all divisions except for the tower crane rental division. Further details in its audited financial statements on or around 29 May 2015.
United Envirotech announced on 18 April 2015 that it has added DBS Bank as a joint arranger and dealer for the Updated Medium Term Note Programme, where the maximum aggregate principal amount of the notes that may be issued has been increased from US$3000 million to US$500 million. The net proceeds from each issue of Notes under the updated programme will be used by the company and/or its subsidiaries for refinancing of existing borrowings, making investments and/or acquisitions, general working capital and corporate purposes.
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