Stocks to watch: Del Monte Pacific, Pacific Radiance, Second Chance Properties, Addvalue Technologies, TEE Land, Clearbridge Health

Stocks to watch: Del Monte Pacific, Pacific Radiance, Second Chance Properties, Addvalue Technologies, TEE Land, Clearbridge Health

PC Lee
29/06/18, 08:55 am

SINGAPORE (June 29): Here are some stocks that could move the market this Friday morning:

Del Monte Pacific (DMPL), the producer of branded fruits and vegetable, juices and condiments, reported 4Q earnings ended April of US$12.3 million ($16.8 million), four times higher than the US$2.9 million in the same quarter last year on one-off gains of US$14.3 million. However, DMPL generated fourth quarter sales of US$499.0 million, 8.5% lower than a year ago. Shares in DMPL closed 0.4 cent higher at 18 cents.

Del Monte Pacific 4Q earnings surge on one-off but FY18 still ends with US$28 mil loss

Vessel charterer Pacific Radiance announced a loss of US$12.8 million ($17.5 million) for the first quarter ended March, narrowing 13% from its loss of US$14.8 million a year ago on lower costs. Revenue for 1Q18 fell 16% to US$11.8 million from US$14 million previously. Shares in Pacific Radiance last traded at 10.4 cents.

Pacific Radiance's 1Q losses cut to $17.5 mil as restructuring continues

Second Chance Properties reported a 61.6% fall in 2Q net profit to $2.1 million from $5.4 million a year ago on lower sales. Revenue for the three months ended May closed 3.2% higher at $9.7 million but cost of sales rose 10.8% to $4.9 million. This resulted in gross profit falling 3.6% to $4.8 million. Second Chance says its apparel business continues to be affected by increasing trend of online sales as well as poor consumer spending. Shares in Second Chance closed at 24 cents on Thursday.

Second Chance to close more baju kurung stores to arrest profit slide

Addvalue Technologies and Inmarsat have signed an agreement to implement the first constellation of Inter-Satellite Data Relay System (IDRS) equipped satellites for an unidentified “leading satellite operator”. This will allow continuous communications with the operation centre on the ground, thereby giving the satellite operator on-demand, 24/7, near real-time, two-way IP-based links to all of their assets –and in turn, respond to customer requirements and to operational anomalies in a timelier manner. Shares in Addvalue closed flat at 3.4 cents on Thursday.

AddValue and Inmarsat to implement first constellation of IDRS-equipped satellites

TEE Land is acquiring the freehold interest in a plot of land located at 338 to 364 Upper East Coast Road, which is currently Teck Guan Ville, for a consideration of $60 million. The plot of land has a land area of about 3,928.8 sqm and the group plans to build a residential development on it. Shares in TEE Land closed at 19 cents on Thursday.

TEE Land acquires freehold land in Upper East Coast for $60 mil

Clearbridge BioMedics has announced $6.6 million in pre-initial public offering (IPO) funding from oncology medical professionals, as well as investors focused in healthcare & biotechnology. Clearbridge BioMedics is a spin-off from the National University of Singapore (NUS) and SMART MIT. It is also the first incubatee of Clearbridge Accelerator now known as Clearbridge Health, which is listed on the SGX and has a strategic stake in Clearbridge BioMedics. The company expects to launch its IPO in 4Q18.  Shares in Clearbridge Health closed 1.4% higher at 36 cents on Thursday.

Clearbridge BioMedics receives $6.6 mil in pre-IPO funding ahead of targeted 4Q launch

US stocks rose on Thursday as technology and other growth sectors rebounded from the prior day's declines and financial shares snapped a 13-day losing streak. The Dow Jones Industrial Average rose 98.46 points, or 0.41%, to 24,216.05, the S&P 500 gained 16.68 points, or 0.62%, to 2,716.31, and the Nasdaq Composite added 58.60 points, or 0.79%, to 7,503.68.

The Straits Times Index (STI)  ended at 3,257.57, up 2.8 points, or 0.09%. Some 1.5 billion securities, valued at $1.1 billion, changed hands. Losers outnumbered gainers 188 to 167. 

Singapore authorities block New Noble listing

SINGAPORE (Dec 10): The Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) have barred Noble Group from transferring its listing status to New Noble as part of its restructuring process. This comes after a “careful review” of the findings to-date from the ongoing investigations into the commodities trader and its Singapore-incorporated subsidiary Noble Resources International (NRI). According to a joint statement by MAS, the Commercial Affairs Department (CAD) and SGX RegCo, the decision to block the New Noble listing arose from doubts about New Noble’....

Balancing profit and motive

SINGAPORE (Dec 10): On Dec 5, the UK government published a trove of internal Facebook emails and other documents that suggested the social media platform sought to trade users’ data with advertisers, or wield it for strategic advantage with third-party applications. Facebook has been under increasing scrutiny amid privacy concerns, and the backlash to the news was to be expected. In its defence, Facebook said it was seeking a way to ensure the sustainability of its business. As a business, Facebook should indeed be looking for the best way to monetise or leverage its assets — users’ ....

Singtel's Dash expands payment capabilities to international frontiers with Visa & Apple Pay

SINGAPORE (Dec 10): Singtel’s all-in-one mobile payments app, Dash, has expanded its payment capabilities to include international mobile payments via Apple Pay. This means Apple device users may also use Dash as a payment method on Apple Pay, making it the first non-bank mobile wallet in Singapore on Apple’s secure and private payments system. Main image, photo courtesy of Singtel: Using Dash for Visa Contactless Payments Further, Dash customers are now able to use their Visa Virtual Account on the Dash app at online retailers worldwide and merchant points that accept Visa conta....
Active management can deliver attractive returns amid tightening liquidity, says Charles Schwab

SINGAPORE (Dec 4): In the last few years, passive fund management has become increasingly popular am