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Stocks to watch: Yoma Strategic, China Sports, Ascott
THE following Singapore companies have issued announcements that may affect their trading activity on Monday.
Mainboard-listed Yoma Strategic has announced the opening of its potable water plant - designed and supplied by Hyflux, a Singapore-listed water solutions provider - at Pun Hlaing Golf Estate in Myanmar.
This marks the first real estate development in that country to have its own Hyflux water treatment plant, said the Myanmar property play.
China Sports International has posted a 30.6 per cent drop in net profit to 8.87 million yuan (S$1.89 million) for the first quarter ended March 31, 2015, from 12.78 million yuan in the year-ago period.
Revenue for the quarter fell 43.6 per cent, to 103.5 million yuan from 183.47 million yuan in Q1 2014, on lower sales of footwear and apparel products, which were mainly attributable to the "persistent and increasing competition in the sportswear industry", said the mainboard-listed company.
The Ascott, CapitaLand's wholly owned serviced residence business unit, said it is eyeing to manage or operate 10,000 apartment units in Europe by 2020, to mark the 50th anniversary of trade relations between Singapore and France.
Ascott reaffirmed its commitment to the European market during a recent visit by Singapore President Tony Tan Keng Yam to its newly opened Citadines Suites Arc de Triomphe Paris.