Stocks to watch: Del Monte, mm2 Asia, USP Group, Enviro-Hub

THE following companies saw new developments that may affect trading of their securities on Thursday (Sep 7):

Del Monte Pacific : The canned food brand has narrowed its net loss to US$13.1 million for the first fiscal quarter ended July, from US$30.5 million in the corresponding year-ago period. Despite the net loss, the group on Wednesday said it expects to achieve a net profit in the remainder of FY2024. The counter closed flat at S$0.156, prior to the announcement of its results.

mm2 Asia : The mainboard-listed media company on Wednesday said it agreed to subscribe for HK$19 million (S$3.3 million) worth of bonds issued by concert organiser Unipact Entertainment and Productions. The bonds are exchangeable for shares amounting to a 5 per cent interest in the Hong Kong-based company. Shares of mm2 Asia closed S$0.001 or 2.6 per cent higher at S$0.04, before the announcement. 

USP Group : Two of the watch-listed company’s minority shareholders who claim to hold at least a 10 per cent interest in the company are asking USP to convene an extraordinary general meeting for a complete overhaul of its board of directors. Prior to the news, shares of the group ended Wednesday unchanged at S$0.124.

Enviro-Hub : A former general manager of the group’s 80.25 per cent-owned subsidiary has resigned after being interviewed by the Corrupt Practices Investigation Bureau on Aug 31, announced the company on Wednesday. Shares of Enviro-Hub ended flat at S$0.024, before the news.