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Stocks to watch: Food Empire, Nordic, MMP Resources, China Fishery Group
THE following stocks could be in play when the market opens on Thursday following the Hari Raya Puasa break, as they made announcements or had developments after the market closed on Tuesday:
Food Empire: The Singapore-listed company has lost to global fast-food chain McDonald's to use "Mc" or "Mac" in trademark names for its foodstuff and beverages in the European Union.
The firm said on Thursday morning that Europe's second-highest court, the General Court in Luxembourg, has ruled in favour of McDonald's.
Nordic Group: The offshore and marine services provider has secured contracts worth about S$4.2 million. These include contracts of about S$3.3 million to supply valve remote control and tank gauging systems to a new customer by 2017.
MMP Resources: The company is planning to partner global brand development firm Alliance Brands in joint ventures in selected countries. Under a memorandum of understanding signed by the two companies, they will conduct share swops. MMP Resources will also provide a loan to Alliance Brands.
China Fishery Group: Fitch Ratings has downgraded the company's issuer default rating to "D" or "default" from "RD" or "restricted default". This follows China Fishery's announcement on June 30 that the company and its subsidiaries had filed for US bankruptcy protection.