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Stocks to watch: SPH, ST Engineering, SIAEC, Medtecs, UG Healthcare, Axington
THE following companies saw new developments that may affect trading of their securities on Tuesday:
Singapore Press Holdings (SPH): The media and property group on Monday evening said its operating profit for the fiscal year ending Aug 31, 2020 is expected to be "significantly lower" than the S$187 million recorded a year ago, due to the coronavirus pandemic. SPH shares closed S$0.02 or 1.6 per cent lower at S$1.26, before the announcement.
SIA Engineering Company (SIAEC), Singapore Technologies Engineering (ST Engineering): Aerospace companies in Singapore are repositioning themselves for the long, hard road to recovery as business nosedives due to the Covid-19 pandemic. Firms such as ST Engineering and SIAEC have implemented measures to curb costs. Shares of SIAEC fell S$0.03 to S$1.98 at Monday’s close, while ST Engineering lost S$0.08 to finish at S$3.27.
Medtecs International, UG Healthcare: Shares of the two Catalist-listed healthcare players tumbled on Monday, prompting separate queries from the Singapore Exchange. Medtecs, which makes personal protective equipment, closed at S$0.68, down 21.8 per cent or S$0.19, with some 137 million shares changing hands. Disposable glove maker UG Healthcare's shares fell S$0.21 or 10.7 per cent to finish at S$1.76, after 21 million shares traded.
Axington: The mandatory unconditional cash offer by Dorr Global Healthcare closed at 5.30pm on Monday with valid acceptances amounting to about 20.81 per cent of Axington’s shares. This will raise Dorr's stake in the Catalist-listed firm to 87.71 per cent. Before the offer closed, Axington shares gained one Singapore cent or 4.8 per cent to end at 22 cents, above the offer price of 20.8 cents per share.
MYP: The mainboard-listed property investment firm on Monday evening reported that its net loss widened to nearly S$2.1 million for the year ended March 31, 2020, from a net loss of about S$2 million for the previous year. MYP shares last traded at 8.9 Singapore cents on July 9.
Trading halt: Catalist-listed Biolidics halted trading pending an announcement during Monday’s midday break, after a share surge in the morning. Prior to the halt, the counter rose 26.8 per cent or S$0.11 to S$0.52 as at 12.18pm.