Here are some stocks to watch out for this Monday morning.
A 42-page short-seller report which placed a 29 cents target price and a “short” recommendation on Silverlake Axis, the Malaysian-based software solutions provider, could have caused the stock to fall by as much as 27% to an intra-day low of 61.5 cents on Friday, forcing the group to call for a trading halt. The counter closed at 63.5 cents just before the trading halt was called.
Frasers Hospitality, a member of the Frasers Centrepoint group, has acquired a serviced residence in the city of Dalian for RMB481.37 million ($100.3 million). Apartments in the 259-unit Fraser Suites Dalian studios will range from studios to three-bedroom apartments. It is scheduled to open in 2017. Frasers Centrepoint Limited closed at $1.525 on Friday.
GuocoLand says Chia Boon Kuah will be retiring as group president and CEO of GLL Group on Aug 31. Hw will be replaced by Choong Yee How, president and CEO of Hong Leong Financial Group (HLFG) in Malaysia, with effect from Sept 1. GuocoLand shares closed at $2.07.
Homegrown lifestyle property developer, Oxley Holdings saw FY15 net profit fall 68.3% to $60.9 million from a year ago. The decline came on the back of a 35% decrease in revenue to $701.8 million mainly due to the completion of the industrial development, Oxley Bizhub. Oxley shares closed at 38.5 cents.
Noel Gifts International posted a 84.6% y-o-y increase in FY15 net profit to $2.9 million on the back of higher revenue of $29.4 million from $27.6 million in FY2014. The increase was largely due to the revenue from SG50 Baby Jubilee Gift project. Noel Gifts shares closed at 30.5 cents.
Hi-P International's wholly-owned subsidiary, Hi-P Electronics has started arbitration proceedings against Yota Devices to claim a sum of US$126 million ($178 million). The claim involves an agreement between Russian-based Yota and Hi-P Electronics to develop, manufacture and supply the Yotaphone 2 dual-screen smartphone. Hi-P International closed at 39 cents.
On Friday, US stocks closed deep in the red as global growth concerns accelerated selling pressure. The Dow Jones industrial average closed down 530.94 points, or 3.12%, to 16,459.75, concluding its worst week since 2011; the S&P 500 lost 64.84 points, or 3.19%, to 1,970.89 and the Nasdaq Composite dropped 171.45 points, or 3.52%, to 4,706.04.
On the local bourse, the Straits Times Index fell 1.29% to close at 2,971.01, below the psychological 3,000 level for the first time since February 2014. A total of 1.94 billion shares worth $1.54 billion changed hands.
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A 42-page short-seller report which placed a 29 cents target price and a “short” recommendation on Silverlake Axis, the Malaysian-based software solutions provider, could have caused the stock to fall by as much as 27% to an intra-day low of 61.5 cents on Friday, forcing the group to call for a trading halt. The counter closed at 63.5 cents just before the trading halt was called.
Frasers Hospitality, a member of the Frasers Centrepoint group, has acquired a serviced residence in the city of Dalian for RMB481.37 million ($100.3 million). Apartments in the 259-unit Fraser Suites Dalian studios will range from studios to three-bedroom apartments. It is scheduled to open in 2017. Frasers Centrepoint Limited closed at $1.525 on Friday.
GuocoLand says Chia Boon Kuah will be retiring as group president and CEO of GLL Group on Aug 31. Hw will be replaced by Choong Yee How, president and CEO of Hong Leong Financial Group (HLFG) in Malaysia, with effect from Sept 1. GuocoLand shares closed at $2.07.
Homegrown lifestyle property developer, Oxley Holdings saw FY15 net profit fall 68.3% to $60.9 million from a year ago. The decline came on the back of a 35% decrease in revenue to $701.8 million mainly due to the completion of the industrial development, Oxley Bizhub. Oxley shares closed at 38.5 cents.
Noel Gifts International posted a 84.6% y-o-y increase in FY15 net profit to $2.9 million on the back of higher revenue of $29.4 million from $27.6 million in FY2014. The increase was largely due to the revenue from SG50 Baby Jubilee Gift project. Noel Gifts shares closed at 30.5 cents.
Hi-P International's wholly-owned subsidiary, Hi-P Electronics has started arbitration proceedings against Yota Devices to claim a sum of US$126 million ($178 million). The claim involves an agreement between Russian-based Yota and Hi-P Electronics to develop, manufacture and supply the Yotaphone 2 dual-screen smartphone. Hi-P International closed at 39 cents.
On Friday, US stocks closed deep in the red as global growth concerns accelerated selling pressure. The Dow Jones industrial average closed down 530.94 points, or 3.12%, to 16,459.75, concluding its worst week since 2011; the S&P 500 lost 64.84 points, or 3.19%, to 1,970.89 and the Nasdaq Composite dropped 171.45 points, or 3.52%, to 4,706.04.
On the local bourse, the Straits Times Index fell 1.29% to close at 2,971.01, below the psychological 3,000 level for the first time since February 2014. A total of 1.94 billion shares worth $1.54 billion changed hands.
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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