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.

Cromwell European Real Estate Investment Trust (Cromwell E-Reit): Its portfolio valuations fell 3 per cent for the full year ended Dec 31, 2023, on a like-for-like comparison and excluding capital expenditure. This comes after valuations fell “only slightly” by 1.5 per cent for the second half of the year compared with June 2023, said its manager on Monday. Units of the Reit ended Friday 0.01 euro or 0.7 per cent higher at 1.42 euros.

Qian Hu : The mainboard-listed fish vendor sunk into the red with a net loss of S$9.3 million for the second half of the financial year ended Dec 31, 2023, versus a net profit of S$584,299 in the year-ago period. The group attributed the results to a S$7.4 million loss on the disposal of a substantial portion of its Asian arowana. Shares of Qian Hu last traded at S$0.165 on Jan 9.