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