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Stocks to watch: Noble, China Gaoxian Fibre Fabric, Triyards, Ascott, CapitaLand
ANNOUNCEMENTS made about or by the following companies after the market closed on Thursday could affect their trading activity on Friday:
Noble Group's credit-rating was reduced to junk on Thursday by Standard & Poor's and was placed on watch for further cuts, though earlier in the day another rating agency, Fitch Ratings, said Noble's improved liquidity after the sale of its agriculture unit will help it manage increased collateral agreements.
Yarn maker China Gaoxian Fibre Fabric Holdings, which had a change of chairman just late in December, said on Thursday two independent directors (IDs) have resigned, which means the firm now does not meet the minimum requirement of two IDs residing in Singapore.
Offshore marine and engineering firm Triyards Holdings said on Friday its net profit for the first quarter fell 25 per cent despite higher revenue, due to lower-margin projects and the absence of a one-time gain.
Ascott, CapitaLand's serviced residence business unit, has formed a partnership with Alibaba's online travel platform in a bid to capture the shift towards independent travel by Chinese tourists. Ascott's global network of serviced residences will be made available on Alitrip, which serves over 100 million Chinese travellers.