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. 

AusGroup to buy housing village & facilities on Australia's Melville Island for $11.4 mil

SINGAPORE (Feb 19): AusGroup, the construction and marine services provider, is acquiring an accommodation village plus facilities worth A$11.8 million ($11.4 million). The village comprises a 119-man accommodation camp, kitchen, administration building and recreational facilities at Port Melville, Melville Island in the Northern Territory of Australia, supporting the Northern Territory oil and gas industry and marine transport industry. The acquisition will be made in cash, and comes without mortgage or security interests. AusGroup’s unit, NT Port and Marine, on Monday signed a gen....

Defensive utility stocks could ride infrastructure boom

SINGAPORE (Feb 18): Utility companies, which are usually deemed to be boring defensive stocks, could turn out to be sexy growth counters. This is because the growing demand for better infrastructure and amenities on the back of the population growth and rising affluence in Asia-Pacific is leading to the implementation of new utility projects in the region. “Because of their strategic significance, utility services have traditionally been provided by the public sector. However, ballooning population growth and fiscal constraints have resulted in more of the world’s utility services to sp....

Space tech start-up Transcelestial lasers in on high-speed connectivity

SINGAPORE (Feb 18): A few months ago, inside a second-storey shophouse in Chinatown, Rohit Jha and his team fired up a PlayStation 4 set. ­Using its controllers, he virtually navigated a small toy car, manoeuvring through a track on a remote rooftop of one of the buildings in Chinatown. The tiny vehicle was monitored by a couple of cameras and linked wirelessly to the team’s office a few blocks away. Jha, CEO and co-founder of space tech start-up Transcelestial, says he often demonstrates the capabilities of the company’s product through the PlayStation setup. The effort has paid off. ....