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Stocks to watch: Noble, GuocoLand, Falcon Energy, Chew's Group
THE following companies saw new developments that may affect trading of their shares on Monday:
Noble Group: Noble on Monday requested for a trading halt before market open, pending the release of an announcement. On Sunday, the commodities trader announced that its largest shareholder has sold certain senior notes. Noble Holdings Ltd (NHL), which owns a 17.95 per cent stake in the company and is linked to founder Richard Elman, held US$10.5 million in principal amount on 6.75 per cent senior notes due Jan 29, 2020, as at Aug 10, when the circular to shareholders was published. But the board said on Sunday that it understands that NHL tendered the notes for sale on Aug 17 to Deutsche Bank, under the German lender's tender offer to purchase the debt-ridden Noble's outstanding bonds. The meeting to vote on the group's restructuring deal takes place today. The counter last traded at 15 Singapore cents apiece on Friday, down 3.25 per cent.
GuocoLand: Real estate player GuocoLand saw a slump in both the top and bottom line in the fourth quarter, with the group's stock of unsold residential units down. Net profit for the three months to June 30, fell by 42 per cent to S$141.2 million from a year ago. The decline tracked a 52 per cent slide in turnover to S$197 million. Earnings per share was 12.24 Singapore cents for the quarter, down from 22.06 Singapore cents before. The board has proposed a first and final dividend of seven Singapore cents a share. The counter last traded flat at S$1.90 apiece on Friday.
Falcon Energy: Offshore and marine company Falcon Energy has reduced its full-year losses on the previous year, on lower expenses. Its net loss came in at US$80.9 million for the 12 months to June 30, narrowing from US$121.8 million before. Revenue fell by 57.4 per cent year on year, to US$45.5 million, while net loss per share was 9.92 US cents, against 15.1 US cents previously. The group has warned that the operating environment for two key businesses will stay challenging in the year ahead. Falcon Energy closed flat at 3.7 Singapore cents last Friday, before the results.
Chew's Group: The fresh egg producer on Monday morning requested for a lifting of its trading halt. In an exchange filing on Friday, the firm noted that it had received queries from shareholders with regards to the payment of dividends. In response, the group said it will make appropriate announcements as and when its board has made the decision. Chew's Group on Aug 22 said that controlling shareholder, Fenghe Investment Holding, has entered into a conditional sale and purchase agreement (SPA) with Goldhill Trust to sell its 68.14 per cent stake in Chew's for S$12.13 million. Upon completion of the acquisition, Goldhill Trust will make a mandatory general offer for the rest of the group at S$0.2107 per share.
Rex International: Oil explorer Rex International has requested for a trading halt, pending the release of an announcement. The counter last traded flat at four Singapore cents on Friday.