Stocks to watch: Jardine Cycle & Carriage, Creative Technology, CNMC Goldmine

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Aug 21):

Jardine Cycle & Carriage (JC&C) : JC&C announced on Friday that it has entered into a conditional share and asset purchase agreement to sell its Cycle & Carriage automotive distribution and retail operations in Singapore and Malaysia to CCHPL Holdings, a wholly owned subsidiary of Indonesia’s Chandra Asri Pacific. The estimated base purchase price payable in cash is around S$265 million. Shares of JC&C ended at S$27.50 on Thursday, 1.2 per cent or S$0.32 higher.

Creative Technology : The technology group on Thursday posted net profit of US$649,000 for its second half ended Jun 30, compared with a net loss of US$4.38 million in the year-ago period. This was mainly due to a US$1.3 million US tariff refund. Excluding the refund, it would have resulted in a H2 net loss of US$600,000. For the full year, it still incurred a net loss, but it narrowed 94 per cent to a loss of US$576,000. Shares of Creative Technology ended at S$0.785 on Thursday, 0.6 per cent or S$0.005 lower, before the news.

CNMC Goldmine : Shareholders on Wednesday approved the Catalist-listed gold producer’s transfer to the Singapore Exchange mainboard, said the company on Thursday. About 97.5 per cent of votes were cast in favour of the transfer, which was proposed in May, and will be effective from Aug 28. Shares of CNMC Goldmine ended Thursday 2.2 per cent or S$0.03 higher at S$1.40, before the announcement.