Three Shares That Lost to the Market Today

The Straits Times Index (SGX: ^STI) gained 0.7% today to 3,275points, building upon yesterday’s 0.6% increase.

Matex International’s (SGX: M15) shares declined 7.8% to $0.118. Last week, the specialty chemicals manufacturer, whose products are used in the making of natural as well as synthetic fabrics, announced a private placement of 12.4m shares to two individual investors.

The placement deal, which saw the investors paying 96.1 cents per share, increased the company’s share count by 5.8% from 215.0 m to 227.4m. Matex has stated that it intends to use the proceeds of approximately S$1.19m for “general working purposes”.

The company has had a spotty history in terms of profit generation and have had four loss-making years from 2008 to 2012. But, it has a healthy net-working-capital position of S$21.2m based on its last reported financials.

Parkson Retail Asia (SGX: O9E) dropped 3.1% to $1.55 on no notable news. The company, which runs department stores in Malaysia, Vietnam and Indonesia, last reported earnings in May. The results were for the third quarter of its financial year and Parkson posted a 1.3% year-on-year increase in quarterly profit to S$9.8m.

Rounding up the trio is CapitaMall Trust, (SGX: C38U) which slipped by 0.5% to $2.05. The retail-mall-focused real estate investment trust released its second quarter results last week and posted a 6.3% jump in quarterly distributions per unit (DPU) to 2.53 cents. The REIT’s managers also shared in the earnings release that they’ve been seeing positive data related to retail spending for the tenants in their malls.

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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.