Stocks to watch: Tan Chong International, CapitaLand Investment
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THE following companies saw new developments that may affect trading of their securities on Tuesday (Jul 9):
Tan Chong International : The car distributor said it is expecting an 86.6 per cent fall in profit after tax to HK$25 million (S$4.3 million) in the first half of 2024, from HK$187 million in the previous corresponding period. This is mainly due to a “severe drop in sales” in its automotive division in the recorded period, the group said. Shares of Tan Chong were untraded on Monday. They closed flat at HK$1.29 on Friday.
CapitaLand Investment (CLI): Its wholly owned lodging business unit, Ascott Limited, announced on Monday that it added six new properties to its European portfolio as part of its global expansion strategy. Ascott also entered into a multi-year partnership with Chelsea Football Club. Shares of CLI closed down 0.4 per cent or S$0.01 at S$2.64.
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