Stocks to watch: AEM, Frasers Property, Cromwell E-Reit, Qian Hu

THE following companies saw new developments that may affect trading of their securities on Monday (Jan 15):

AEM : The semiconductor equipment maker on Sunday said that it found a shortfall in the group’s inventories following an internal stock-taking exercise, which it expects will have a negative impact on the group’s profitability for FY2023. Based on an initial investigation into the issue, the group attributed the shortfall to “human error in transactions” with its enterprise resource planning system. Shares of AEM closed flat at S$3.40 last Friday.

Frasers Property : The property developer issued a statement on Friday, refuting talk of a potential sale of the company or its assets. It was responding to recent news reports speculating that the company’s majority owners could sell the company or some of its assets as part of a strategic review. Shares of Frasers Property closed at S$0.99, up S$0.04 or 4.2 per cent, before the announcement.