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Three Shares That Lost To The Market Today

StockMarketBoard

It’s another slow day for Singapore’s stock market as the Straits Times Index (SGX: ^STI) is down by 0.3% to 3,192 points.

The 30 blue chips that make up the index had a rather mixed day as well as 13 of them ended the trading session in the black while 16 shares had lost some ground.

Let’s take a closer look at some of the shares that did worse than the market today.

Vicom (SGX: V01) slipped 1.6% to S$4.90. The commercial inspection and testing firm, which also runs most of the vehicle inspection centres in Singapore that drivers here are likely to be familiar with, released its third quarter results last week and saw quarterly revenue increase by 6.9% to S$26.1m while profits rose in tandem by 6.1% to S$6.8m.

The company commented: “The demand for our testing services is expected to remain favourable. Vehicles are likely to be on the road longer and our non-vehicular testing services are expected to grow despite the keen competition.”

Property developer GuocoLand (SGX: F17) inched down by 0.4% to S$2.24. Yesterday night, the company’s associate Tower Real Estate Investment Trust released its third quarter results.

Tower REIT, a Malaysia-listed REIT with a portfolio of three commercial properties in Singapore’s northern neighbour, saw its quarterly earnings per unit decrease 12% year-on-year to RM 0.0301.

Finally, we have China Environment (SGX: 5OU), whose shares fell 4% to S$0.595. The industrial waste gas treatment solutions provider announced last Friday that Havenport Asset Management, an independent asset management firm that invests in Asian-Pacific equities, had bought 31m new shares at S$0.55 each from it.

China Environment’s proceeds from the sale of shares would amount to around S$16.8m after the deduction of related-expenses of S$0.25m. The company intends to use the proceeds for “general working capital for the purposes of (i) purchase of raw materials for production purpose, (ii) setting general overheads of the [company] and (iii) other operating expenses”.

The 31m new shares represent a dilution of around 4.4% for existing shareholders prior to the issue.

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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.