Wednesday, September 23, 2015

Hiap Hoe, Magnus Energy, Rowlsey, Serrano, Vicplas

The following stocks may be in focus today.

Hiap Hoe Limited, the property group, says 97% of the residential units in Marina Tower Melbourne in Australia have been sold to date, with total sales achieved of over A$256 million ($256 million).

Magnus Energy Group has agreed to subscribe to 2.7 million new shares of Flagship at an issue price of 37 cents each or $1 million in total.

Interior fit-out solutions company Serrano has launched its consumer based interior design and home renovation business. At the same time, the group will be opening its new 4,998 sqm concept showroom at Sungei Kadut by 4Q2015.

Rowsley is converting its Vantage Bay township in Iskandar Malaysia into a regional healthcare city.

Vicplas International, the manufacturer of PVC pipes, pipe fittings and electrical conduits for the medical and building industries, has swung back to the black, thanks to better sales. In the FY15 ended July, Vicplas registered earnings of $5.8 million from a loss of $4.1 million a year ago. Full-year revenue rose 17.1% to $74.1 million from a year ago.

Markets

U.S. stocks dropped on Tuesday as a selloff in commodities dragged down materials companies while Volkswagen suppliers' shares dropped following the German carmaker's emissions scandal. The Dow Jones industrial average fell 179.72 points, or 1.09%, to 16,330.47, the S&P 500 lost 24.23 points, or 1.23%, to 1,942.74 and the Nasdaq Composite dropped 72.23 points, or 1.5%, to 4,756.72.

The Straits Times Index ended the day 0.48% lower at 2,868.47, after trading between 2,862.72 and 2,904.98. Decliners outnumbered gainers 212 to 192.

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