Stocks to watch: HC Surgical, USP Group

THE following companies saw new developments that may affect trading of their shares on Wednesday:

HC Surgical Specialists: The Catalist-listed firm on Tuesday posted a 38 per cent rise in net profit to S$1.2 million for Q1 2020 ended August, boosted by revenue from its newly-acquired units. Revenue for the quarter grew 27.9 per cent to S$4.9 million on the back of contributions from subsidiary JLES, which commenced operations in August last year, and Medical Services @ Tampines, in which HC Surgical acquired an additional 50 per cent stake in September last year. Shares of HC Surgical closed flat at S$0.56 on Tuesday.

USP Group: The Singapore Exchange (SGX) on Tuesday queried watch-listed USP Group on why it did not disclose that independent director Wong Peng Wai, who was appointed in January, had a prior commercial relationship with the company. In a previous filing on Sept 23, USP had disclosed that back in 2014, it bought three eco-fuel machines from Giantway Management, a company solely owned by Mr Wong. Shares of USP closed flat at S$0.04 on Tuesday.