Stocks to watch: Ban Leong Technologies, Oiltek
Ban Leong Technologies : Video game distributor Epicsoft Asia's voluntary unconditional cash offer to take the group private has closed, the technology products distributor said on Wednesday. The offeror, a subsidiary of Nasdaq-listed GCL Global, now owns, controls or has agreed to acquire 104.1 million or 96.6 per cent of Ban Leong's total issued shares. With the total number of publicly held issued shares now below the Singapore Exchange's 10 per cent free float requirement, the offeror plans to compulsorily acquire all shares it has not acquired and delist the group. The counter closed flat on Wednesday at S$0.595, before the announcement.
Oiltek : The vegetable and edible oil processing company is supporting a sustainable aviation fuel pilot plant programme by global technology provider Sulzer, who will be in collaboration with the Sarawak Economic Development Corporation (SEDC). This programme will be executed through SEDC's new energy arm, SEDC Energy (SEDCE). The group noted in a statement on Thursday it is in talks with SEDCE to explore the possibilities of involvement in the initiative, but that as at Thursday no definitive agreements have been entered into, and no formal plans have been finalised or approved by its board. Its shares closed flat at S$0.56 on Wednesday.
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