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Stocks to watch: Metro Holdings, Changtian Plastic, StarHub
Metro Holdings:Metro Holdings on Tuesday reported a 3.5 per cent increase in revenue to S$33.7 million for its fourth quarter ended March 31, 2017 due to higher sales.
Net profit for the quarter swelled to S$34.2 million, compared with S$1.2 million a year ago, due to the absence of a S$9.5 million impairment due from a joint venture, lower general and administrative expenses and a higher share of associates' results.
Changtian Plastic & Chemical: Mainboard-listed Changtian Plastic & Chemical has received a takeover offer worth S$17.2 million from its two founders and major shareholders at S$1.30 per share in cash.
The announcement was made by RHT Capital to the Singapore Exchange on behalf of the offeror, United Tech Industries - a privately held vehicle incorporated in the British Virgin Islands and owned by Yang Qingjin and Chen Yongfu, Changtian Plastic's chairman and deputy chairman respectively and also the company's founders. (Mr Chen is Mr Yang's brother-in-law).
StarHub: From July, local telco StarHub will roll out a network upgrade which would allow for significantly higher mobile data throughput (download as well as upload) in congested areas. The telco said that the speeds that customers will get would be among the "fastest in the world" for 4G networks.