Stocks to watch: Tan Chong, Silverlake, Straits Trading, Yunnan Energy, Raffles Edu

THE following companies saw new developments that may affect trading of their shares on Thursday:

Tan Chong International: The car company has reported a loss of HK$75.3 million (S$13.3 million) for the first half of its financial year ended June 30, as Covid-19 measures curbed or halted its business activities. Tan Chong shares closed flat at HK$2 on Wednesday before the release of its results.

Silverlake Axis: Fintech firm Silverlake saw net profit fall 12 per cent to RM59.1 million (S$19.4 million) for its fourth quarter ended June 30, as the Covid-19 pandemic hampered the timely closing of deals, the firm said in its results release. Silverlake shares closed up one Singapore cent or 3.4 per cent at 30.5 cents on Wednesday, before its results announcement.

The Straits Trading Company: Straits Trading is acquiring a freehold business park in the UK for a total cash consideration of £76.7 million (S$137.9 million). The counter closed unchanged at S$1.54 on Wednesday before the news.

Yunnan Energy: Mainboard-listed Yunnan Energy's loss for the six months ended June 30 narrowed to HK$7.07 million (S$1.2 million) from a loss of HK$15.1 million for the year-ago period. Yunnan Energy shares closed flat at 15.9 Singapore cents on Wednesday before the release of its results.

Raffles Education Corp: The mainboard-listed private education provider on Wednesday night said Oei Hong Leong's requisition notice is without merit. Among other things, the tycoon had sought to oust Raffles Education's founder Chew Hua Seng. Separately, in results released on Thursday, the group fell into the red with a full-year net loss of S$16.4 million. Raffles Education shares gained 0.2 Singapore cent or 1.9 per cent to finish Wednesday at 11 cents.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Trading halt: On Wednesday morning, trading in Catalist-listed Axington's shares was halted pending an announcement, which The Business Times (BT) understands may be related to its chairman Evangeline Shen. Axington is set to hold its extraordinary general meeting on Thursday. Bad publicity surrounding Axington-linked Bellagraph Nova Group, which is co-founded by Ms Shen, has prompted some anxious investors to step up efforts to pull out millions of dollars, BT understands.