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Stocks to watch: SGX, Ezra, Noble, EMAS

Friday, July 15, 2016 - 08:39

SINGAPORE Exchange (SGX) after its CEO Loh Boon Chye apologised for the technical glitches which had forced the bourse to shut its securities market since 11.38 am on Thursday.

TRADING in Noble's nil-paid rights which has been extended till 5 pm on Friday, following the lengthy trading suspension of trading in SGX's securities the day before. The commodity trading firm is raising US$500 million by selling new shares to its existing shareholders through a rights issue, and Thursday was the last day that shareholders could sell those rights.

OIL and gas-related Ezra Holdings after it sank deeper into the red for its fiscal third quarter ended March 31, 2016, reporting a staggering net loss of US$242.9 million compared to US$3 million a year ago. Revenue for the quarter dropped 10 per cent to US$125.7 million, from US$139.3 million a year ago.

EMAS Offshore reported a loss of US$23.2 million for the third quarter ended March 31, 2016, compared to a net profit of US$5.2 million a year ago. Revenue fell 41 per cent to US$35.1 million, from US$59.2 million a year ago. The weaker performance was attributed to the "general weakness in the offshore industry".