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Stocks to watch: Noble, M1, IHH Healthcare, HMI, Hiap Seng
COMMODITY trader Noble Group's counter was the most active on Singapore Exchange on Wednesday with more than 80 million shares traded.
Its shares fell 3.37 per cent or three cents to S$0.86 at the end of the day.
The movement came after Noble released its first-quarter earnings earlier this week.
Its net profit for Q1 ended March fell 30 per cent to US$106.6 million, weighed down by lower commodity prices and poorer-than-expected performance of its two major operational associates.
Telco M1 plans to acquire a 15 per cent stake in a niche private telco in Oman for three million Omani rial (S$10.3 million) to help the target become a full-service telecommunication provider.
It will pay for the investment in Integrated Telecommunications Oman (TeO) with internal funds. TeO is a private international gateway operator and a mobile services reseller that sells its services under the Telecom Oman brand.
M1 shares last traded at S$3.52 on Wednesday before the announcement.
Mainboard-listed IHH Healthcare Bhd and Sime Darby Bhd's medical venture were reported to have made offers for a Malaysian hospital owned by Health Management International (HMI).
The two companies submitted first-round bids for the Mahkota Medical Centre in the state of Malacca. HMI, which is listed in Singapore, is working with Credit Suisse Group AG to sell the hospital for about US$250 million, according to Bloomberg.
Hiap Seng Engineering's subsidiary has won US$11 million worth of contracts scheduled for March 2016 completion.
The parent company said on Wednesday that the two contracts secured by HS Compression & Process are to provide offshore gas compressor packages.
The projects, which have begun, are expected to positively contribute to earnings, but are not expected to make a material impact on net tangible assets or earnings per share for the year ending March 2016.