Latest watch-list stocks slump as much as 24%

SHARES of all but one company that just entered the SGX watch-list slumped yesterday. Of the eight stocks that fell, those that lost a fair amount of ground included Cacola Furniture International, Dapai International Holding and Ouhua Energy Holdings.

Shares in Cacola slumped 24 per cent to 1.3 cents in heavy trading, with 12.8 million shares changing hands. Dapai, a Chinese manufacturer of backpacks, saw its shares fall 20 per cent to 1.6 cents, while shares in Ouhua Energy - which describes itself as the third-largest importer and wholesaler of liquefied petroleum gas in China - tumbled 19.4 per cent to 2.5 cents.

Ouhua narrowed its pre-tax loss to 51.3 million yuan (S$10.6 million) from 82.1 million yuan a year ago. It improved its gross margin, but could not put a firm cap on expenses.