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Stocks to watch: Noble Group, Raffles Medical Group, CNMC Goldmine, Grand Banks Yachts
THE following companies saw new developments that may affect trading of their shares on Monday:
Noble Group: Noble Group on Monday said that it has agreed to dispose a marketing and offtake agreement for petrochemical products between a national petrochemicals company and itself, as well as certain loan-related contracts, to Tricon Energy for about US$10.1 million. The loss on the proposed disposal amounts to about US$6.8 million based on the book value of the assets as at end-September 2017 of about US$16.9 million.
Raffles Medical Group: Marginal growth in its revenue from hospital services and investment holdings boosted results for Raffles Medical Group for its full year ended Dec 31, 2017. Net profit edged up 0.8 per cent to S$70.8 million from the previous year, the group said in a Singapore Exchange filing on Monday morning. In 2017, revenue crept up 0.8 per cent to S$477.6 million from the preceding year.
CNMC Goldmine: Catalist-listed CNMC Goldmine Holdings, which is seeking dual primary listings on the Hong Kong bourse, on Monday announced a net profit of US$1.29 million for the fourth quarter ended Dec 31, 2017, recovering from a net loss of US$1.94 million in the year-ago period.
Grand Banks Yachts: Grand Banks Yachts on Monday said it plans to buy the Stuart Service Yard in Florida for US$3.2 million to serve as its official US headquarters. The marina will replace the group's existing rental facilities and berths, acting as a private dock and exhibition venue for its boats in the US.