Stocks to watch: Ban Leong, Oiltek, Addvalue

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jul 3):  

Ban Leong Technologies: Video game distributor Epicsoft Asia’s voluntary unconditional cash offer to take the group private closed at 5.30 pm on Wednesday, the technology products distributor said. As 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 the group’s total issued shares, it plans to compulsorily acquire all remaining unacquired shares and delist Ban Leong. With its percentage of publicly held shares now below the Singapore Exchange’s 10 per cent free float requirement, shares of Ban Leong will be suspended from 9 am on Thursday. 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 said 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.

Addvalue Technologies: The group announced on Thursday that it has secured several new orders totalling around US$1.5 million for its advanced digital radio-related business. These orders are for the supply of the company’s proprietary highly compact software defined radio modules to customers in the defence technology industry. They will also increase Addvalue’s order book from US$14.3 million as announced on Jun 26, to US$15.8 million. The counter closed flat at S$0.015 on Wednesday.