Singapore’s flagship stock market index, the Straits Times Index (SGX: ^STI) fell by 0.27% to 3280 today as it struggled to reach the ‘psychological barrier’ of 3300 points – the index’s level might be important, but Foolish investors know that it is more important to focus on market value rather than any ‘barriers’ that exist solely in the mind. Before we digress further, here are three other companies that suffered losses greater than the market’s.
Supergroup’s (SGX: S10) investors were left a little unhappier today as its shares dropped by 2.37% to $3.71 on no particular news. The company’s business performance for 2012 was great as profits increased by 29% to $82.6m and shareholders were rewarded by a 22.4% dividend hike to $0.071 per share.
Elsewhere, China Minzhong’s (SGX: K2N) shares slipped by 0.89% to close at $1.12. The fresh and processed vegetable supplier, one of the 10 farming-related companies in Singapore, announced last week that it would be offering senior notes that are due on 2018. The company expects to launch these debt instruments after investor meetings that commenced on Monday. China Minzhong currently carries a net debt position (total debts minus cash) of RMB157.9m on its balance sheet. Its second quarter report saw quarterly revenues jump by 32.3% to RMB860.9m while earnings increased by 23.6% to RMB215.8m.
Casino, theme park and resort operator, Genting Singapore (SGX: G13) saw its shares drop by 1.66% to $1.49 today. 2012 was not a good year for the company as its full year results announcement on Feb 2013 saw sales decline by 9% to S$2.95b, leading to a much sharper drop in profit of 33% to S$677.7m. Genting’s management expects some short-term profit margin compression in 2013 which would tail off in the latter half of the year as major capital expenditures starts to decrease. Overall, management remains ‘cautiously optimistic’ about Genting’s performance this year.
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The Motley Fool’s purpose is to help the world invest, better. The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Contributor Chong Ser Jing doesn’t own shares in any companies mentioned.