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3 Shares That Failed To Beat The Market

StockMarketBoardSingapore shares slipped 0.3% with the Straits Times Index (SGX: ^STI) down 11 points to 3,290 points even though there were some solid performances elsewhere in Asia. Tokyo’s Nikkei 225 was up 0.5% to 11,307 points, while Hong Kong’s Hang Seng put on 0.9% to 23,413 points.

Although the benchmark index lost ground some companies fared worse. Singapore Telecommunications (SGX: Z74) posted a 5% drop in group revenues to S$4.6b though revenues in at its Singapore operation ticked up 1% to S$1.7b. SingTel, which also operates in Australia, said net profits were down by 8% to S$827m as a result of costs associated with investing in new networks. Shares in SingTel fell 3% to $3.49.

Pacific Andes Resources (SGX: P11) fell 1.9% to $0.152 after the frozen fish distributor responded to a query from the Singapore Stock Exchange. The company said a 118% jump in prepayment to suppliers in the first quarter despite a 3% fall in revenues was due to the prepayment of a Long Term Supply Agreement. This is the second time this year that the fish supplier or its indirectly-owned subsidiary China Fishery Group (SGX: B0Z) has been grilled by the Singapore Stock Exchange. Shares in China Fishery slid 2.2% to $0.68.  

Shares in small-cap crane rental outfit Tat Hong Holdings (SGX: T03) slipped 1.6% to $1.57 despite a 33% jump in third-quarter pre-tax profit to S$24m. Tat Hong, which also rents out construction and earthmoving equipment, said revenues rose 5% to $S206m while gross margins improved 1.5% to 35.9%. However, Tat Hong cautioned that demand in Australia could be affected by reduced public spending.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned.