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Stocks to watch: Sarine Technologies, Noble, Wilmar, IFS Capital, Transcorp
DIAMOND-MANUFACTURING equipment and technology supplier Sarine Technologies' Q4 FY14 net profit declined 12.8 per cent to US$3.89 million due to lower gross margin, higher operating expenses and increased income tax expense. For the three months ended Dec 31, 2014, its revenue rose 9.9 per cent to US$18.32 million from higher recurring income related to its product, Galaxy, as well as increased sales of traditional diamond manufacturing equipment.
Commodities trader, Noble Group, which has recently been hit hard by a short attack, on Monday clarified information in a Dow Jones article dated Feb 16, 2015, about a potential raising of funds. The company confirmed that it neither plans nor needs to raise any capital.
Wilmar International on Wednesday confirmed that it has been granted consent under the New Zealand Overseas Investment Act for its proposed acquisition of the beleaguered New Zealand and Australian food manufacturer Goodman Fielder. This was the final regulatory approval required.
The board of directors of IFS Capital on Wednesday announced that the group expects to report a higher loss for Q4 FY14 and FY14 compared to the corresponding periods a year before, after deciding to make full provisions for a loan loss due to a recent court decision against a client of an overseas subsidiary and claim liabilities for a client of its insurance subsidiary.
Transcorp Holdings was slapped with a "trade with caution" by Singapore Exchange on Wednesday with regard to unusual trading activity of its shares the previous trading day. Between Feb 16 and 17, 2015, Transcorp's counter rose 49.6 per cent.