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Stocks to watch: NOL, LifeBrandz, Qian Hu
THE following stocks may see trading activity on Monday due to announcements made last week:
NOL: Its parent Temasek Holdings has recently put loss-making Neptune Orient Lines on the market and has been looking for prospective buyers, according to a Thursday report. The shipping liner, with a market value of about S$2.28 billion, could now be a ripe takeover target - especially after its having sold its profitable logistics arm for US$1.2 billion in cash in February.
LifeBrandz: Struggling lifestyle group LifeBrandz has signed a deal with Healthtrends Medical Investments to buy shares in four target companies in what is essentially a reverse takeover (RTO) deal that will transform it into a healthcare group, it said on Thursday. This would not be its first RTO deal attempt.
Qian Hu: Political turmoil in the eurozone over the Greek financial crisis has taken its toll on Qian Hu Corp, with the ornamental fish retailer posting a 45.5 per cent year-on-year fall in net profit to S$12,000 for the second quarter on Friday. The plunge in earnings came as ornamental fish sales dropped 15.4 per cent to S$7.8 million.