Tuesday, January 12, 2016

Tiger Air, SGX, Sapphire, POSH, Cheung Woh

Here are some stocks to watch this Tuesday morning.

Tigerair reported a 1.4% decline in traffic to 877 million revenue passenger-kilometres (RPK) and a 1.4% fall in capacity to 1 million available seat-kilometres (ASK) in December. For the whole of last year, traffic dropped 3.6% to 9.5 billion RPK from a year ago, while capacity fell 5.3% to 11.5 billion ASK. Tiger Air closed 1.1% higher at 45.5 cents.

Singapore Exchange is seeking the public’s view on proposed Mainboard and Catalist Listing Rules changes to align them with the amended Companies Act passed in October last year. The changes include electronic transmission of notices and documents to shareholders. One example is whether there are concerns if companies electronically transmit documents to shareholders with implied consent. The exchange is also seeking feedback on policy positions highlighted by other recent statutory changes. SGX closed 2.4% lower at $7.23.

Sapphire Corporation's newly acquired rail engineering specialist, Ranken Infrastructure Limited, has secured a RMB373 million S$81 million) contract in Taiyuan City, Shanxi province, bringing the total value of new orders recently clinched to RMB1.3 billion. The counter closed 3% lower at 9.7 cents.

Offshore marine services provider PACC Offshore Services Holdings (POSH) says POSH Terasea has secured a project to provide towage and positioning services to Shell Prelude floating liquefied natural gas (FLNG) platform, the world’s largest offshore facility. POSH closed 1.7% lower at 29.5 cents.

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