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Stocks to watch: Singtel, Epicentre, Sin Heng Heavy Machinery
SINGAPORE Telecommunications (Singtel): The telco said on Thursday it plans to buy a 21 per cent stake in Intouch Holdings PCL and a 7.39 per cent stake in Bharti Telecom from Temasek for S$2.47 billion in cash.
It said the acquisitions give it a unique opportunity to increase economic exposure to high-growth telecom sectors in Thailand and India.
Epicentre Holdings: The group has issued a profit warning for the financial year ended June 30, 2016, adding that it expects to report a loss, due to "lower sale from certain Apple products as well as erosion of gross profit margin derived from the sale of third party accessories as a result of increased price competition".
It also provided added provisions in anticipation of the soft information technology and consumer electronics sector.
Sin Heng Heavy Machinery: The crane-rental company said on Wednesday it expects to record a net loss for the fiscal fourth quarter of 2016 and the financial year ended June 30, 2016.
The loss is attributed to lower revenue due to the competitive operating environment and disposal of certain non-performing, old-aged cranes.