Stocks to watch: Sembcorp Industries, ISOTeam, Aspen Holdings, ISR Capital

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way.PHOTO: ST FILE

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Thursday (Jan 3):

Sembcorp Industries: Sembcorp Industries will install and operate rooftop solar panels at three logistics warehouses in Singapore owned by Cache Logistics Trust, the companies said on Wednesday. Under a solar power agreement signed by the companies, Sembcorp will own and operate the rooftop "solar farms" with a combined capacity of about 7.9 megawatts peak, atop Cache's Commodity Hub, Pandan Logistics Hub and Cache Changi Districentre 1. Sembcorp ended trading on Jan 2 at $2.51.

ISOTeam: Building maintenance and estate upgrading company ISOTeam has been awarded a second Home Improvement Programme (HIP) project from the Housing and Development Board (HDB). The project is expected to be completed by June 2020 and has a contract value of around $26.3 million. The upgrading works are for 35 HDB blocks across four precincts in Tampines, Jalan Bukit Merah/Silat Avenue and Kim Tian Place. ISOTeam closed on Jan 2 at S$0.20.

Aspen Holdings: Malaysia developer Aspen (Group) Holdings has acquired about 45 acres (about 18 hectares) of land in Bandar Cassia, Batu Kawan, Penang, Malaysia from Penang Development Corp at an aggregate consideration of RM98 million (S$32.3 million). The acquisition was made through a subsidiary of Aspen, and the parcel is intended to be developed as part of Aspen Vision City, as disclosed in Aspen's initial public offering documents in 2017. Aspen last traded at $0.125 on Dec 27.

ISR Capital: ISR Capital resisted a Singapore Exchange request that it seek shareholder approval for the waiver of a condition precedent to its purchase of a stake in a mining asset in Madagascar, just as the long-drawn out $3 million acquisition was supposed to have drawn to a close. The company had announced this week that the purchase of a 60 per cent stake in Tantalum Holding (Mauritius) (THM) would be completed on or around Dec 31, following a decision to waive a conditition precedent relating to "the cash flow budget and liquidity plan having been agreed on by the buyer with the seller and/or the target company". The long-stop date was also extended to Jan 3. ISR Capital requested a lift in its trading halt on Jan 3 before market open. It had called for a trading halt pending an announcement on Wednesday morning. ISR Capital last traded at $0.004 on Dec 31.