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Stocks to watch: Kimly, Top Glove, GS Holdings, DeClout, BlackGold
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Kimly: The Catalist-listed coffeeshop operator being investigated over a controversial purchase of a drinks firm that was later aborted - remains open to acquisitions and strategic alliances, but will look at this point at developing its own brand of coffees and tea, it said on Tuesday. Kimly has "convened a workgroup" to study the packaging of Kimly’s own brand of iced brewed coffee and tea for sale at its drink stalls. The group plans to launch this brand of beverages between January and March 2019, it said in a regulatory filing. Shares of Kimly closed on Monday at S$0.24, down one Singapore cent.
Top Glove Corporation: Stronger glove sales lifted results for Top Glove for its first quarter. Net profit increased 4.5 per cent to RM110.1 million (S$36.2 million) from the previous year, the group said in a Singapore Exchange filing on Monday evening. For the three months ended Nov 30, revenue jumped 34.5 per cent to RM1.26 billion from the previous year. This was also its highest quarterly sales revenue to date. The expansion in revenue was due to the group's robust sales in both developed and emerging markets. Top Glove shares ended one Singapore cent or 0.5 per cent lower at S$1.98 on Monday.
GS Holdings: The investment holding company of dishware washing and cleaning services on Monday said that it has signed a conditional sale and purchase agreement with Ang Siew Kiock to buy Hao Kou Wei, a company in the business of letting and operating food courts, coffee shops and eating houses, for S$3.6 million. Ms Ang, the sole shareholder and director of the target company, is also the spouse of GS Holdings’ executive chairman and CEO, Pang Pok. Shares in GS Holdings closed flat at S$0.18 on Dec 14.
DeClout: Declout on Monday said that it has signed a sale and purchase agreement to sell to Choo See Wee its full stake in e-commerce platform solutions provider Corous360, in return for a 12.5 per cent shareholding in Grand Centrex, an investment holding company owned by Mr Choo. Mr Choo is also a director of Play-E Corporation, an associated company of Corous360, as well as the subsidiaries of Play-E Corp. Shares in DeClout closed unchanged at 9.5 Singapore cents on Monday.
BlackGold Natural Resources: BlackGold on Monday said the sentencing of its consultant Johanes Kotjo, who was involved in a bribery case, is not expected to have any impact on the group's financials or operations. Kotjo is the uncle of the group’s chief investment officer, James Rijanto. He was sentenced at a court hearing on Dec 13, and was previously described as a BlackGold shareholder in media reports. Shares in BlackGold closed unchanged at 1.5 Singapore cents apiece on Dec 13, before the coal mining company requested a trading halt on Dec 14. The firm has since requested the lifting of its trading halt.