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Stocks to watch: Great Eastern, Raffles Medical, SembMarine, ST Engineering, Sunpower, Creative
THE following companies saw new developments which may affect trading of their shares on Monday:
Great Eastern Holdings: Great Eastern, the insurance arm of OCBC Bank, announced it had turned a profit of S$213.3 million for its third fiscal quarter, down 26 per cent from S$287.5 million in the year-ago period.
Raffles Medical Group: The healthcare-focused group reported profit of S$16.41 million for its third fiscal quarter, inching up 0.1 per cent from the previous corresponding quarter.
Sembcorp Marine (SembMarine): The group has taken on two separate renewable energy projects valued at more than S$200 million, the group announced on Monday morning. It is moving into the ropax ferry design and construction niche with the design and construction of three such battery-operated vessels carrying passengers and vehicles, slated for delivery to Norwegian ferry and express boat operator Norled AS in Q4 2020.
Singapore Technologies Engineering: ST Engineering said it is jointly investing in an aircraft maintenance, repair and overhaul (MRO) project in the United States, along with various American government-linked development partners, under a tie-up inked last Saturday and announced on Monday morning.
Sunpower Group: The firm said it has secured a contract valued at more than 100 million yuan (S$19.9 million) to provide equipment for a project by Fujian Billion Petrochemicals. The contract is expected to positively impact the group's performance from FY2018 to FY2020, said Sunpower.
Creative Technology: Creative Technology will begin sales in the United States this week for its Super X-Fi audio devices, the homegrown consumer electronics firm said on Monday morning. Pre-orders for the SXFI AMP headphone amplifier open on Nov 1, about a month and a half after sales in Singapore began. It will cost US$149.99 on the American market, compared with S$219 locally.
iFast Corp: iFast Corp has shrugged off volatile market conditions and its loss-making China business to post a higher net profit of S$2.6 million in its third quarter, 29.5 per cent higher than the year-ago period.