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Stocks to watch: Noble, Q&M, OCBC
COMMODITY trader Noble Group's net profit for the first quarter ended March 31, 2015, plunged 30 per cent to US$106.6 million, weighed down by lower commodity prices and poorer-than-expected performance of its two major operational associates.
Over the same period, the group's revenues fell 7.33 per cent to US$16.64 billion.
The counter closed up 3.5 Singapore cents to S$0.89 on Tuesday.
Q&M Dental Group has said it is exploring the spin-off of its China and Malaysia subsidiaries through a listing "on a reputable stock exchange".
The company on Tuesday evening said a listing of its dental healthcare units, Q&M Dental Holdings (China) and Q&M Dental Group (Malaysia), would "better reflect" the value of the business and provide an additional source of funding.
Its shares rose half a Singapore cent to S$0.775 at the end of Tuesday's trading.
OCBC will be adding new customer segments and products to its consumer-banking operation, as South-east Asia's second-largest lender tries to remodel its unprofitable consumer-banking unit in China and focus on corporate banking in an effort to boost profits from the mainland.
Foreign banks struggle to make money from their retail businesses in China where they face lengthy approval processes for new branches and stiff competition from the country's largest banks.
The counter closed down four cents to S$10.57 on Tuesday.