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Three Shares That Lost to the Market Today

Singapore’s stock market was largely in the green today as the Straits Times Index (SGX: ^STI) rose by 0.5% to 3,338. Losers were rare as almost 80% of the 30 STI components saw share price gains but let’s take a look at some of them, including those outside the index.

It was not a good day for the companies under the umbrella of the Jardine Matheson Group. Shares of Jardine Matheson Holdings, Jardine Strategic Holdings, and Jardine Cycle & Carriage (SGX: C07) all fell. Jardine C&C in particular, was the second biggest loser today among the STI components with a 1.7% drop to $50.12. The holding company’s Astra subsidiary had reported first quarter results yesterday evening. Astra, which is heavily involved with the automobile industry, saw its quarterly revenue inch up 1% year-on-year from Rp46.4b to Rp46.7b while earnings per share dropped by 7% to Rp106.

Engineering firm Singapore Technologies Engineering (SGX: S63) was one of the few who accompanied the Jardines on the losers bench today – shares slipped by 0.4% to $4.54. The company announced yesterday that Mr Kwa Chong Seng will be taking over Mr Peter Seah Lim Huat as Chairman of the Board. Earlier in April, ST Engineering had two contracts worth $480m and $151m that was sealed by its Aerospace and Electronics arm respectively. The company will report its first quarter results on 7 May and investors might be eager to know if it can build upon last year’s performance – ST Engineering’s net income of $134.4m for the first quarter of 2012 was 21% higher than 2011’s.

Elsewhere, we have beverage manufacturer and property developer Yeo Hiap Seng (SGX: Y03) which lost 1.5% to close at $2.57. The company released its first quarter results yesterday evening and the market did not respond well – shares spent the whole day mired in red. YHS’s quarterly top and bottom-line contracted sharply compared to a year ago. Revenue declined 38% from S$219.2m to S$135.6m while profit collapsed 69% from S$49.4m to S$15.5m. The poor performance can be attributed largely to a ‘reduction in number of units of development properties available for sale’ in the recently completed quarter.

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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 contributor Chong Ser Jing doesn’t own shares in any companies mentioned.