Stocks to watch: Nio, Frasers Property, Chip Eng Seng, KOP, Don Agro, Watches.com
Michelle Zhu
THE following companies saw new developments that may affect trading of their securities on Thursday (Sep 8):
Nio : The Chinese electric carmaker reported a wider second quarter net loss of 2.7 billion yuan (S$545 million) from 659.3 million yuan the year before. Despite higher revenue for the Q2 ended June, its bottomline was weighed by higher cost of sales, R&D costs as well as selling, general and administrative expenses. Singapore-listed shares of Nio closed at US$17.40 on Wednesday before the earnings release, down US$0.38 or 2.1 per cent.
Frasers Property : About 75 per cent or 118 of Sky Eden@Bedok’s 158 residential units have been sold at an average price of about S$2,100 per square foot on the first day of the property’s launch, announced the developer on Thursday morning. The counter closed S$0.01 or 0.9 per cent lower at S$1.06 on Wednesday.
Chip Eng Seng Corporation : The property developer announced that Celine Tang, its non-executive chairman and non-independent and non-executive director, is considering a possible transaction involving the group’s shares. Chip Eng Seng closed 5.2 per cent or S$0.035 higher at S$0.71 on Wednesday, before the announcement.
KOP Limited : An independent auditor has flagged a material uncertainty that may cast significant doubt on the real estate, hospitality and entertainment group’s ability to continue as a going concern. Separately, the group said it is proposing to sell 2 units of a condominium development at Dalvey Road for S$11.7 million to immediate family members of businessman Sam Goi, a controlling shareholder of the company. KOP closed Wednesday $0.002 or 2.9 per cent lower at S$0.068, before both announcements were made.
Don Agro International : The Russia-based agricultural company on Thursday announced it achieved an all-time record wheat harvest of 89,107 tonnes, representing a 23.2 per cent growth from the previous year. This was largely attributed to the group’s investment in fertilisers and harvest equipment, which Don Agro intends to continue upgrading in its efforts to raise its production level by this year. The counter ended Wednesday unchanged at S$0.235.
Watches.com , Incredible Holdings : The watch retailer, who indirectly owns CKLY Trading Limited (CTL), said in a bourse filing on Wednesday that the watches seized by Hong Kong Customs and Excise Department (C&E) were those from retail brands Michael Kors and Armani. While it was earlier reported that the goods were worth S$30,000, Watches.com later clarified that the total value of the goods would be higher if they were judged based on their retail value. Shares of Watches.com closed down 8.3 per cent or S$0.001 to S$0.011 while Incredible Holdings ended Wednesday flat at S$0.002.
