Stocks to watch: Top Glove, ComfortDelGro
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THE following companies saw new developments that may affect trading of their shares on Wednesday:
Top Glove Corporation: The Malaysian glove manufacturer saw its second-quarter net profit surge to RM2.87 billion (S$938.4 million) - about 25 times that of RM115.7 million posted for the year-ago period. This came as the mainboard-listed firm recorded its highest-ever quarterly sales revenue of RM5.37 billion, quadrupling from RM1.23 billion the year before. On the Singapore bourse, Top Glove shares closed up S$0.03 or 1.8 per cent to S$1.69 on Tuesday, after its results announcement.
ComfortDelGro: Shares of the transport operator surged on Tuesday following last week's news of the government's intention to review the financing framework for the Downtown Line. The counter hit an intraday high of S$1.71 as at 10.07am, with some 15.5 million shares changing hands. It later eased to close at S$1.70, up S$0.06 or 3.7 per cent.
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