Friday, September 25, 2015

SMRT, KLW, Civmec, China New Town, TTJ, Sysma

The following stocks may be in focus today:

The Land Transport Authority is imposing a fine of $5.4 million on transport operator SMRT for the system-wide disruption on the North-South and East-West Lines (NSEWL) on July 7.

An extraordinary general meeting has been requisitioned by the controlling shareholder of Catalist-listed door maker KLW Holdings. The EGM on Oct 12 aims to remove three directors from the five-man board.

Oil & gas construction and engineering services provider Civmec’s 50-50 joint venture company with Sedgman has clinched a contract from BHP Billiton Iron Ore. The project involves engineering works at the Jimblebar mine in the Pilbara region of Western Australia. Separately, Civmec say it is hoping to be the lead contractor to design and build Australia's future "multi-billion dollar" submarine construction project, following the launch of its new defence division.

China New Town Development Co has suspended vice-chairman and executive director Shi Jian as sister company SRE Group investigates certain alleged unauthorised transactions carried out by Shi.

Structural steel specialist TTJ Holdings reported a 29% fall in FY2015 earnings to $15.5 million from a year ago as revenue fell 30% to $94.1 million.

Construction company Sysma Holdings posted earnings of $2.6 million for the FY2015 ended July, reversing from the net loss of $11.8 million in FY2014. Revenue more than doubled to $98.4 million, lifted by the increase in construction activities such as additions and alternations, as well as the higher contributions from its property development projects.

Markets

U.S. stocks closed lower on Thursday in a volatile session on uncertainty about U.S. monetary policy and global economic growth, while market heavyweight Caterpillar cut its sales forecast and healthcare investors fled for the exits. The Dow Jones industrial average fell 78.57 points, or 0.48%, to 16,201.32, the S&P 500 lost 6.52 points, or 0.34%, to 1,932.24 and the Nasdaq Composite dropped 18.27 points, or 0.38%, to 4,734.48.

There was no trading on the Singapore stock market on Thursday because of a public holiday.

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