Singapore stocks to watch Thursday: SGX, Q&M Dental, ValueMax, Raffles Infrastructure

Little India Tekka Wet Market in Singapore; taken July 2018.Little India Tekka Wet Market in Singapore; taken July 2018.

These are Singapore stocks which may be in focus on Thursday 15 November 2018:

SGX

Singapore Exchange said on Wednesday that it signed a strategic cooperation deal with Bank of China (BOC) and China Foreign Exchange Trade System & National Interbank Funding Center (CFETS) to promote the CFETS-BOC Traded Bond Index and its sub-indexes and to explore developing products based on the indexes.

Read more: SGX: Entered tie-up with Bank of China, CFETS to promote CFETS-BOC bond indexes

Q&M Dental

Q&M Dental said on Wednesday that its third-quarter net profit rose 1 percent on-year to S$3.62 million amid higher revenue from the Singapore outlets.

Read more: Q&M Dental reports 3Q18 rose 1 percent amid higher Singapore revenue

ValueMax

ValueMax reported on Wednesday that its third quarter net profit rose 10.6 percent on-year to S$4.95 million, despite a decline in revenue, as margins increased.

Read more: ValueMax reports 3Q18 net profit rose 11 percent despite revenue drop

Raffles Infrastructure Holdings

Raffles Infrastructure Holdings said on Wednesday that it applied to Singapore Exchange Securities Trading (SGX-ST) for a waiver and a 30-day extension until 14 December to report its third quarter earnings results.

“The company’s auditors have not been able to get verifiable financial numbers from the company’s subsidiaries in the Peoples’ Republic of China, and further, the company’s lawyers are in the midst of preparing a legal audit report on the said subsidiaries which the company’s auditors would also be reading to assist them,” Raffles Infrastructure said in a filing to SGX after the market close on Wednesday.

It said it was seeking more time to finalize the results after the legal audit report was received by its lawyers.

Sakae Holdings

Sushi restaurateur Sakae Holdiings reported on Wednesday that its net profit for the fiscal first quarter fell 72.4 percent on-year to S$75,000 amid efforts to streamline its operations.

Read more: Sakae Holdings reports fiscal 1Q net profit fell 72 percent amid streamlining moves

Q&M Dental

Q&M Dental said on Wednesday that a Johor Bahru dentist and his wife, a former Mrs. Malaysia Universe pageant winner and general manager of the Q&M Johor clinics, were found guilty of contempt of court for allegedly violating court orders.

Read more: Q&M Dental: Johor Bahru High Court finds dentist and his wife guilty of contempt of court

SingHaiyi Group

SingHaiyi Group said on Wednesday that a buyer which agreed to bulk purchase 34 condominium units of Vietnam Town Phase II for US$23.1 million failed to close on 31 units due to a lack of resources.

Read more: SingHaiyi: Buyer failed to close on sale of 31 Vietnam Town condos in bulk deal

Q&M Dental

Q&M Dental said on Wednesday that it incorporated a wholly owned subsidiary, QMAI, in Singapore this week for the development of dental healthcare software and equipment and to act as an investment holding company.

QMAI has an initial issued and paid-up share capital of S$100,000, comprising 100,000 shares, it said.

Straits Trading

Malaysia Smelting Corp. (MSC) said on Wednesday it posted a net gain of 30.5 million ringgit from the fair value adjustment of the land and buildings located on the Butterworth land after a revaluation exercise to determine its fair market value after the company entered a memorandum of understanding with Straits Trading to develop or sell the land.

 

 

Generic Banners