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Stocks to watch: JES, Lian Beng, Vallianz, SIA

Friday, October 14, 2016 - 07:57

THESE stocks had news that may influence trading on Friday.

JES International: Struggling Chinese shipping firm JES International's auditors have not given the company's financial statements for the year ended December 2015 a clean bill of health. The auditors cited several factors for this including the non-preparation of consolidated financial statements and material uncertainties which may cast doubt on JES's ability to continue as a going concern.


Lian Beng: Higher unrealised exchange loss, impairment loss on Centurion Corp shares and lower contributions from its associates and joint ventures (JVs) led construction group Lian Beng to report steep declines in its fiscal first-quarter revenue and net profit.


Vallianz Holdings: Offshore services provider Vallianz has postponed its Oct 17 extraordinary general meeting on a proposed one-for-one rights issue of up to 3.596 billion new shares with free detachable warrants. This came after a notification by Swiber Holdings' judicial managers on Thursday of Swiber's interest to participate in the exercise under a proposal to set off and settle the actual subscription amount payable to Vallianz for its pro rata entitlement of the rights cum warrants issue against any amount owing by Vallianz to Swiber.


Singapore Airlines: Demand for Singapore Airlines' upcoming direct service to San Francisco has been robust ahead of its relaunch of non-stop flights to the United States later this month, a spokesman said on Thursday.

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