Friday, July 15, 2016

SGX, Ezra, Sapphire, First REIT, Singapore Myanmar Investco, China Everbright

Here are some stocks that could move the market this Friday morning:

Singapore Exchange (SGX) says its securities market will open per normal on Friday, after technical glitches forced the market shut since 11.38am the day before. Investors can now check on the status of their orders with their brokers. SGX last traded at $7.79 before the breakdown.

Ezra Holdings announced a post-tax loss from continuing operations of US$239.2 million ($321.5 million) compared with a profit of US$0.05 million posted a year ago. This was the result of a one-off non-cash loss of US$181.3 million on disposal of a held-for-sale unit as well as allowance for doubtful debt of US$25.0 million. Revenue for 3Q declined 10% to US$125.7 million. Shares of Ezra closed 1.5% higher at 6.7 cents.

Sapphire Corporation has clinched new infrastructure contracts worth about RMB 873 million ($175 million) in China. The contracts were won through construction subsidiary, Ranken Infrastructure. Sapphire Corporation closed flat at 28 cents.

First REIT has declared a 2Q DPU of 2.11 cents, up 1.9% from a year ago, lifted by contributions from properties acquired last December. Gross revenue rose 6.5% to $26.6 million mainly due to contribution from the Kupang Properties, while net property income increased 6.9% to $26.3 million. First REIT closed at $1.30.

Singapore Myanmar Investco (SMI) has signed a licensing agreement with Chikaranomoto Holdings Co. to operate and manage Ippudo ramen restaurants in Myanmar. The agreement was signed for a five-year term SMI says it expects to open the first Ippudo ramen restaurant in Myanmar by 1Q2017. Shares of SMI closed at 39 cents.

China Everbright Water has secured the Ju County Shudong Waste Water Treatment Project located in Rizhao City, Shandong Province, from Ju County Government. The total investment of the project is estimated to be about RMB50 million ($10 million). Shares of China Everbright Water closed at 66 cents.

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