Stocks to watch: Dyna-Mac, ST Engineering

THE following company saw new developments that may affect trading of its security on Tuesday (Oct 15):

Dyna-Mac: Hanwha Ocean SG – a special-purpose vehicle controlled by Hanwha Ocean and Hanwha Aerospace – revised its final offer price to S$0.67 per share for all the issued issued ordinary shares of offshore oil-and-gas contractor Dyna-Mac. This represents a premium of 584.4 per cent over the company’s net asset value of 9.79 cents as at Jun 30, said Hanwha Ocean SG on Monday. The offer closing date has been extended to 5.30 pm on Nov 6. If the offer is unsuccessful, Hanwha Ocean SG does not guarantee that the share price will remain at current prevailing levels or that shareholders will be able to monetise their shares at the final offer price. Shares of Dyna-Mac ended flat at S$0.65 on Friday when it called for a trading halt. The counter will resume trading on Tuesday.

ST Engineering: ST Engineering’s urban solutions business clinched a contract worth more than S$60 million to design, build and operate a smart city platform for Lusail City in Qatar, said the company on Monday. Awarded by Lusail Real Estate Development Company, a subsidiary of real estate developer Qatari Diar Real Estate Investment Company, the project is set to commence in the fourth quarter of 2024 and conclude by 2027. The counter closed flat at S$4.67 after the news.