Three Shares that Lost to the Market Today


The Straits Times Index (SGX: ^STI) is on its fourth consecutive day of losses as it dropped 0.3% to 3,114 points today.

Yesterday was rather depressing as only 2 out of the 30 blue chips that made up the index had managed to make any headway. The situation’s much brighter today, however, as 11 of the index’s constituents ended the trading session with gains. Meanwhile, 15 others registered losses for the day.

What are some of the shares that lost to the market? Let’s take a look.

Hoe Leong Corporation (SGX: H20) lost 12.5% to S$0.14. The vessel charterer for the oil & gas industry had announced two weeks ago that it had won a chartering contract for its Arkstar Voyager Platform Support Vessel from a major Saudi Arabian-based upstream oil company.

The contract could possibly last up to five years (it’s a “3+2 years” contract) and would see the Arkstar Voyager be deployed to support marine operations for the transport of supplies and cargoes.

Vessel chartering is one of the two main business activities that Hoe Leong is engaged in. The company also distributes equipment parts for heavy equipment and industrial machinery.

Healthcare provider Singapore Medical Group (SGX: 5OT) fell 1.7% to S$0.118. The company has undergone some changes in its top-level management recently with the Monday announcement of its appointment of Dr. Beng Teck Liang and Mr. Tony Tan Choon Keat as chief executive and chairman respectively.

Dr. Beng would be responsible for “leading day-to-day operations and the organisation’s long-term strategy” while Mr. Tan’s tasked to lead the Board of Directors and provide overall strategic guidance.

According to SMG’s press release, “Dr. Beng has previously led multi-billion dollar businesses and large teams in the information technology and healthcare sectors across Asia Pacific and Japan over the last decade.” Meanwhile, Mr Tan comes with “vast experience in the healthcare industry” and is currently the Chairman and a major shareholder of Island Hospital, Penang, Malaysia.

Auric Pacific Group (SGX: A23) slipped 1.6% to S$1.26. Its acquisition of Food Junction Holdings, first announced back in June this year, has finally been completed.

Food Junction announced yesterday evening that as of 28 Nov 2013, Auric owned 97.63% of its shares, and that it would be delisted on the coming Monday on 9 Dec 2013.

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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.