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Stocks to watch: mm2 Asia, Ipco, Citic Envirotech
THE following companies saw new developments that may affect trading of their shares on Thursday:
mm2 Asia Ltd: mm2 Entertainment, a wholly owned subsidiary of mm2 Asia Ltd, will sign a memorandum of understanding (MOU) during the 2017 Content Asia Summit with New Culture Media Hong Kong Ltd - a wholly owned subsidiary of Shanghai New Culture Media Group Co, Ltd - and 9i Film & Television Media Co Ltd. mm2 Asia shares closed flat at S$0.48 on Wednesday.
Ipco International Limited: The investment holding company said it is expected to report a net loss for the fiscal first quarter ended July 31, mainly attributable to the translation effect of the operations of its overseas subsidiaries. It will disclose further details of its financial performance when it announces its Q1 FY18 results. Ipco shares closed at S$0.48 on Wednesday.
Citic Envirotech Ltd: The mainboard-listed company is taking a 60 per cent stake in fully integrated environmental and utility company Citic Environment (Qingyuan) Technology Development Co Ltd (Citic Qingyuan) in Qingyuan City of Guangdong Province for 378 million yuan (S$78.3 million). Citic Qingyuan undertakes the supply of industrial water, steam and electricity and provides wastewater treatment and recycling services. Citic Envirotech shares ended 2.05 per cent lower to close at S$0.715 on Wednesday.