Stocks to watch: Keppel, Grand Venture Technology, Fu Yu, mm2 Asia

The following companies saw new developments that may affect trading of their securities on Monday (Oct 6):

Keppel: Singapore has appointed a Keppel-led consortium for the next phase of a project that explores the use of ammonia to generate clean power on Jurong Island, said the Energy Market Authority and Maritime and Port Authority of Singapore on Friday. The project aims to develop a solution that generates 55 to 65 megawatts of electricity from imported low or zero-carbon ammonia. Alongside project partners Japan’s Sumitomo Corporation and liquid storage logistics player Advario, Keppel will conduct a front-end engineering design study to advance a proposal on using ammonia to generate power. The counter closed at S$9.17 on Friday, up 0.3 per cent or S$0.03.

Grand Venture Technology: The group said on Friday that the court had approved a scheme for its privatisation. In July, the group announced that Dutch firm Aalberts Advanced Mechatronics had proposed to acquire all ordinary shares in its issued and paid-up share capital, amounting to some 339.3 million shares worth S$318.9 million. The last trading day for Grand Venture shares on the Singapore Exchange will be on Oct 8, with the expected date for the payment of the scheme consideration on or around Oct 31. The counter ended Friday at S$0.94, up 0.5 per cent or S$0.005, before the announcement.