Stocks to watch: Vibrant, Chip Eng Seng

THE following companies saw new developments that may affect trading of their securities on Wednesday (Dec 14):

Vibrant Group : The logistics player posted a 20.4 per cent rise in net profit to S$3.5 million for the first half of its financial year, which ended on Oct 31. Its revenue rose 2 per cent to S$95.5 million for the period, largely due to contributions from international freight forwarding. Vibrant closed flat at S$0.087 on Tuesday prior to the announcement.

Chip Eng Seng : The property company will acquire the 30 per cent stake it does not already own in a Maldives joint-venture (JV) company for US$1.3 million, it announced in a Tuesday bourse filing. The JV company owns 99 per cent of an entity that holds the leasehold interest in a lagoon located in North Male Atoll in the Maldives, which Chip Eng Seng plans to develop into a five-star resort. The counter closed flat at S$0.75 on Tuesday prior to the announcement.