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Stocks to watch: Noble, Far East H-Trust, Cityneon, Sakae, DISA
THE following companies saw new developments which may affect trading of their shares on Tuesday:
Noble Group: Commodities trader Noble Group issued a profit guidance after trading hours on Monday, warning that it expects to report a total net loss in the range of approximately US$90 million to US$115 million in the third quarter. This was primarily driven by restructuring expenses, net finance costs and losses from discontinued operations, said Noble.
Far East Hospitality Trust: Improvements in the tourism sector plus the addition of Oasia Hotel Downtown to its portfolio lifted Singapore-focused hospitality owner Far East Hospitality Trust (Far East H-Trust) in its third quarter. Distribution per stapled security crept up to 1.05 Singapore cents from 1.03 Singapore cents in the year-ago period, the group said in a Singapore Exchange filing on Tuesday morning.
Cityneon Holdings: Cityneon Holdings executive chairman Ron Tan, together with Hong Kong entrepreneur and investor Johnson Ko Chun Shun, is looking to delist and take Cityneon private. West Knighton Limited, a special purpose vehicle indirectly owned by Mr Ko and Mr Tan, purchased an approximately 68.95 per cent stake in Cityneon Holdings from Lucrum 1 Investment Limited at S$1.30 per share for S$219.3 million.
Sakae Holdings: How Sakae Holdings lost US$4.3 million (S$5.93 million) selling sugar to a disappearing customer remains a mystery, with the boss of the conveyor-belt sushi brand giving little away when pressed by shareholders at Sakae's annual general meeting (AGM) on Monday. About 30 people attended the AGM held at the Sakae Building, where the board was asked who initiated the sugar deal, who the delinquent customer was, and why Sakae had ventured into sugar trading in the first place.
DISA: DISA Limited announced on Monday that Samsung's Galaxy Tab A 8.0 model that was launched last year is now fully equipped with Digital Safety (DiSa) Smart Lock protection.