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Falling Knife of the Week: Wing Tai Holdings

Wing Tai Holdings Limited (SGX: W05), which has businesses in property investment and development, lifestyle retail and hospitality management in Asia, is this week’s Falling Knife. The stock fell 7.3% so far, to close at $2.04 on Thursday.

Wing Tai Holdings has been involved in residential property projects such as L’VIV, 8 Orange Grove and Kovan Melody in Singapore. It has been involved in property developments in Malaysia, Hong Kong and China as well. Under its retail business, it runs brand names that include Adidas, Karen Millen, and Dorothy Perkins.

On 7th November 2013, the company announced that it had transferred the treasury shares from its share buy-back account maintained with The Central Depository (Private) Limited for the purpose of its share option scheme. 27,500 treasury shares were transferred at the value of S$30,701.35

Earlier in the week, it was announced that Mr Cheng Wai Keung, the Chairman and Managing Director of Wing Tai Holdings Limited, was appointed as the Deputy Chairman of the Board of Directors of Temasek Holdings (Private) Limited. Temasek is an investment company owned by the Government of Singapore.

Wing Tai is currently trading at a historical price-to-book ratio of 0.56. The dividend yield is at 1.5%.

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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 Sudhan P doesn’t own shares in any companies mentioned.