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Stocks to watch: SunMoon, Stamford Tyres, Mapletree Logistics Trust, MindChamps
THE following companies saw new developments that may affect trading of their shares on Tuesday:
SunMoon Food Company: The fruits distributor on Tuesday said its wholly-owned subsidiary has received a statutory demand on Nov 29 from Japanese food supplier Wismettac Foods, which is seeking payment of US$1.2 million within 21 days from the date the demand was served. The counter ended at S$0.042 on Monday, down 0.2 Singapore cent or 4.6 per cent before the announcement was made.
Stamford Tyres: The company on Monday evening warned of a net loss for the second quarter and half year ended Oct 31, 2019, based on a preliminary review of its draft unaudited financial results. The losses were mainly due to lower revenue arising from increased competition and oversupply in the tyre market, as well as a one-time expense relating to the closure of a loss-making operation in Australia. Shares in Stamford Tyres ended trading on Monday at 21.5 Singapore cents, down 4.44 per cent or one cent.
Mapletree Logistics Trust (MLT): Its manager's chief financial officer Ivan Lim Ming Rean has resigned and will step down on Dec 31, 2019. Units of MLT closed at S$1.72 on Monday, down two Singapore cents, or 1.2 per cent.
MindChamps PreSchool: Its shares sank by as much as 24.8 per cent to 38 Singapore cents on Monday afternoon, hitting a new 52-week low, and prompting a query from the Singapore bourse. MindChamps said that it is unaware of any possible explanation not previously announced by the company that might explain the "unusual price movements", and that it is in compliance with listing rules. The counter traded at 48.5 Singapore cents by the closing bell on Monday, down two cents from its previous close, and below its 52-week low of 49 cents.