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Stocks to watch: Japfa, Singapore eDevelopment, YuuZoo
THE following Singapore-listed companies made announcements after market close on Friday evening that could affect trading on Monday morning:
Japfa, a mainboard-listed agri-food company, said on Monday it has acquired the remaining 15 per cent of Japfa Comfeed Myanmar (JCMA) for US$5.7 million, making JCMA a wholly-owned subsidiary of the group.
This will allow the group to fully own its Myanmar operations and reap the full benefits of Myanmar's fast-growing poultry market, said Japfa. JCMA, which runs a vertically integrated poultry business ranging from feedmills, poultry breeding farms and hatcheries, to commercial and contract farms, had net assets of US$19.5 million as at Sept 30, 2014, according to Japfa.
Singapore eDevelopment, the catalist-listed firm formerly known as CCM Group, on Monday said it expects to report a loss in its unaudited financial results for the financial year ended Dec 31, 2014.
This was mainly due to losses incurred by its legacy construction business (prior to the disposal of CCM Industrial in May 2014), losses and provisions made arising from claims against corporate indemnities previously issued to its legacy construction business, as well as a non-cash fair value adjustment of embedded financial derivative arising from the issuance of exchangeable notes, said the company.
On Monday, Singapore eDevelopment also announced the termination of its proposed acquisition of CloudTel - a telecom hardware and software developer - and its subsequent focus on developing its flagship HotApp mobile application. The latter is expected to launch within the first quarter of 2015, said the company.
Mainboard-listed YuuZoo Corporation on Monday said it has partnered Activistic - an Australian company specialising in micro-donations and micro-payments - to provide a platform across YuuZoo's networks to enable micro-donations and micro-payments for charitable purposes.
With an initial focus on emerging markets, the platform will enable all of the "millions of users" on YuuZoo's network to support charitable works and projects around the world, said the company.