Monday, July 25, 2016

Singtel, Raffles Medical, ZICO, Lum Chang, Rowsley, Lian Beng

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

Optus Business, the enterprise division of Singtel's Australian subsidiary Optus, has announced a new three year ICT services agreement with insurer QBE Australia that will see Optus deliver voice, mobile and data network services for them. The new contract supports voice and data services connecting more than 4000 QBE end users across 42 locations throughout Australia using the Optus network. Although the actual value of the contract was not disclosed, Optus says the new agreement is a “multi-million dollar deal”. Singtel last closed at $4.30.

Raffles Medical Group's earnings rose 4.5% to $16.7 million in the second quarter ended June 30, 2016, from $15.9 million in the previous corresponding quarter. Revenue grew 19.8% to $119 million in 2Q from a year ago. All divisions contributed positively, with revenue from Healthcare Services and Hospital Services increasing by 42.2% and 7.9% respectively. Raffles Medical closed 1.25% higher at $1.62 on July 22.

ZICO Holdings Inc. announced that ZICO Capital has been granted a capital markets services (CMS) licence by the Monetary Authority of Singapore on July 13. The licence will allow ZICO Capital to conduct the regulated activity of advising on corporate finance. ZICO Holdings closed flat at 28 cents.

Lum Chang Holdings announced wholly owned subsidiary, Lum Chang Building Contractors, has won a $60.8 million contract to build a 14-storey high-specification industrial building and provide asset enhancement woks to three existing buildings from by DBS Trustee on behalf of Mapletree Industrial Trust. Shares of Lum Chang closed unchanged at 36 cents.

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