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Stocks to watch: SembMarine, CCT, Sen Yue, Qian Hu
THE following companies saw new developments that may affect trading of their shares on Thursday:
Sembcorp Marine: Shares of the company surged 7.9 per cent amid active trading on Wednesday, drawing a query from the bourse operator. The counter reached an intra-day high of S$1.53 minutes before the market closed, and ended trading at S$1.51, up 7.86 per cent or 11 cents. The Singapore Exchange (SGX) flagged "unusual price movements" in a letter at around 4.37pm on Wednesday. In a filing on Thursday morning, SembMarine said it was unaware of any information not previously announced concerning the company which might explain the trading activity. SembMarine added that it "negotiates contracts with its customers" in its ordinary course of business, and "there is no certainty that any transaction will materialise".
CapitaLand Commercial Trust: CCT's manager said on Thursday morning that the issue price of its S$220 million private placement has been fixed at S$2.095 per new unit, with the placement being five times subscribed. The private placement, which CCT’s manager says drew "strong demand" from new and existing institutional, accredited and other investors, will see 105.0 million new units being issued. CCT’s manager said that a bulk of the placement proceeds would be used to partially fund the acquisition of a 94.9 per cent interest in the holding companies of a freehold office building in Frankfurt, Germany.
Sen Yue: Catalist-listed Sen Yue is planning to set up a smelting facility that will cost some S$4 million, as part of the group’s waste management business, it said in a bourse filing on Thursday morning. The smelting process will involve the extraction of metal from waste materials and metal scraps through the use of heat. This will expand Sen Yue’s waste management and processing capabilities to metals and materials such as cobalt and nickel, other than lithium batteries. The counter closed at S$0.04 on Wednesday, up 0.7 Singapore cent or 21.21 per cent.
Qian Hu: The mainboard-listed integrated fish service provider on Wednesday reported a 61.6 per cent year-on-year increase in net profit for the second quarter ended June 30 on the back of higher net handling income. It posted a Q2 net profit of S$236,000, compared to S$146,000 in the corresponding period a year ago. This was achieved despite a 12.5 per cent decline in revenue to S$19.2 million from S$21.9 million. Lower revenue was a result of poorer sales in all the business segments - fish, accessories and plastics. The counter closed flat at S$0.135 on Wednesday before the results were announced.