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Stocks to watch: Imperium Crown, Rickmers Maritime Trust, Ley Choon Group, iX Biopharma

Tuesday, November 1, 2016 - 08:24

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THE following companies made announcements after Monday's market close that could affect their shares trading when the market opens on Tuesday:

Property investment firm Imperium Crown is planning to invest S$5 million in two cineplexes in China, which it says will open opportunities for the group to tap into China's booming film industry. The group will buy a 30 per cent stake each in the two companies under Yinguang group for S$1.3 million and S$3.7 million respectively.

Rickmers Maritime Trust sank into the red with a net loss of US$74.68 million for the third quarter, versus a net profit of US$8.99 million a year ago, weighed down by a US$69.1 million impairment charge for 15 vessels. Revenue fell 43 per cent year on year to US$15.64 million due to reduced charter rates and lower vessel utilisation rate amid adverse industry conditions.

A subsidiary of Ley Choon Group Holdings, Chin Kuan Engineering and Contractors, has won a S$4.8 million contract from Singapore's national water agency PUB.

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Homegrown speciality pharmaceutical company iX Biopharma has been granted a patent in Canada for its WaferiX drug delivery technology. Canada has a potential market size of C$515 million (S$533.8 million) and C$97 million for opioids and sleep aids, the company said.

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