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Stocks to watch: Vallianz, Abterra, Cityneon, Del Monte
THE following stocks may be in focus on Wednesday:
Vallianz Holdings: The company said on Wednesday two of its non-executive directors, Yeo Jeu Nam and Yeo Chee Neng, were interviewed by the Commercial Affairs Department in their capacity as directors of Swiber Holdings - a day after Swiber announced the same - but said the matters "are not related" to Vallianz.
Abterra: Iron-ore product trader said on Wednesday its controlling shareholder, General Nice Resources (Hong Kong), has been put under liquidation by the High Court of Hong Kong. General Nice Resources has a direct interest of 34.96 per cent in Abterra.
Cityneon Holdings: It said on Wednesday other than a positive research report on the exhibition firm, it has no other explanation for the large gain in its shares on Tuesday that prompted a query from Singapore Exchange.
Del Monte Pacific: The closure of the firm's North Carolina plant and severance expenses, which were part of the restructuring exercise started in FY2016 to optimise operations, weighed on the firm's second-quarter net profit, which was down 57.8 per cent year on year to US$20.2 million.