Here are some stocks that could move the market today.
SingPost appointed auditors PwC and Drew & Napier found that "there was no deliberate intention to conceal" director Keith Tay's interest" in the group’s acquisition of FS Mackenzie in 2014. Instead, the auditors blamed the incorrect disclosure on "carelessness in its preparation by certain SingPost staff". Following the audit, Tay has resigned as lead independent director and will leave the board earlier than previously announced. SingPost closed at $1.58 on Wednesday.
Sembcorp Industries has increased its interest in Thermal Powertech Corporation India Ltd (TPCIL) - which owns a 1,320MW coal-fired power plant in Andhra Pradesh - from 67.4% to 86.9% by subscribing for 358 million TPCIL shares at 10 rupees each, or 3.58 billion rupees ($73 million) in total. Gayatri Energy ventures, a subsidiary of Indian conglomerate Gayatri Projects, owns the remaining 13.1% of TPCIL. Sembcorp closed at $2.82.
ARA Asset Management posted a 2% increase in its net profit to $19.4 million for its first quarter ended March. This came on the back of a 10% rise in total revenue to $41.4 million. This was mostly driven by the 14% increase in the real estate fund manager's recurrent management fees to $34.3 million. ARA's shares ended at $1.18.
Sakae Holdings said fierce competition in the F&B sector pushed the group into the red with a 1Q net loss of $2.1 million, compared with earnings of $1 million a year ago. Revenue at the sushi chain slipped 12.2% to $22.3 million, hurt by weaker market sentiment and the competitive local F&B sector. The poorer Malaysian ringgit further eroded topline, even though in local currency terms, revenue from Malaysia rose in 1Q.
Wastewater management firm Darco Water Technologies has secured contracts worth $13.1 million to supply and maintain the Pneumatic Waste Conveyance System (PWCS) for domestic waste collection in Singapore. The four contracts were clinched by its subsidiary, PV Vacuum Engineering. Darco ended unchanged at 36 cents.
BreakTalk and Myanmar Bakery, a member of the Myanmar-based real estate Shwe Taung Group, have signed a franchise agreement to establish the BreadTalk bakery chain in Myanmar. Myanmar Bakery will hold the master franchise to develop and operate the BreadTalk Group-owned lifestyle bakery chain in Myanmar. BreakTalk closed at $1.135.
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SingPost appointed auditors PwC and Drew & Napier found that "there was no deliberate intention to conceal" director Keith Tay's interest" in the group’s acquisition of FS Mackenzie in 2014. Instead, the auditors blamed the incorrect disclosure on "carelessness in its preparation by certain SingPost staff". Following the audit, Tay has resigned as lead independent director and will leave the board earlier than previously announced. SingPost closed at $1.58 on Wednesday.
Sembcorp Industries has increased its interest in Thermal Powertech Corporation India Ltd (TPCIL) - which owns a 1,320MW coal-fired power plant in Andhra Pradesh - from 67.4% to 86.9% by subscribing for 358 million TPCIL shares at 10 rupees each, or 3.58 billion rupees ($73 million) in total. Gayatri Energy ventures, a subsidiary of Indian conglomerate Gayatri Projects, owns the remaining 13.1% of TPCIL. Sembcorp closed at $2.82.
ARA Asset Management posted a 2% increase in its net profit to $19.4 million for its first quarter ended March. This came on the back of a 10% rise in total revenue to $41.4 million. This was mostly driven by the 14% increase in the real estate fund manager's recurrent management fees to $34.3 million. ARA's shares ended at $1.18.
Sakae Holdings said fierce competition in the F&B sector pushed the group into the red with a 1Q net loss of $2.1 million, compared with earnings of $1 million a year ago. Revenue at the sushi chain slipped 12.2% to $22.3 million, hurt by weaker market sentiment and the competitive local F&B sector. The poorer Malaysian ringgit further eroded topline, even though in local currency terms, revenue from Malaysia rose in 1Q.
Wastewater management firm Darco Water Technologies has secured contracts worth $13.1 million to supply and maintain the Pneumatic Waste Conveyance System (PWCS) for domestic waste collection in Singapore. The four contracts were clinched by its subsidiary, PV Vacuum Engineering. Darco ended unchanged at 36 cents.
BreakTalk and Myanmar Bakery, a member of the Myanmar-based real estate Shwe Taung Group, have signed a franchise agreement to establish the BreadTalk bakery chain in Myanmar. Myanmar Bakery will hold the master franchise to develop and operate the BreadTalk Group-owned lifestyle bakery chain in Myanmar. BreakTalk closed at $1.135.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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