Three Shares that Lost to the Market Today


Some cheer has returned to our local stock market here in Singapore as the Straits Times Index (SGX: ^STI) is up some 0.5% to 3,068 points.

20 out of the benchmark index’s 30 constituents had ended the day with gains, while seven others had lost some ground.

Let’s take a look at some of the more unfortunate shares outside the index that had made losses.

Low Keng Huat Singapore (SGX: F1E) is down 1.5% to S$0.67. The general building and civil engineering company’s latest third quarter earnings, released two weeks ago, saw declining numbers throughout.

For the nine months ended 31 October 2013, revenue had been slashed by 43% year-on-ear to S$57.7m while profits were down 39% to S$41.4m. Low Keng Huat had seen decreased construction activity and smaller hotel revenues, leading to its smaller top-line. Meanwhile, profits had contracted due to lower earnings from its hotel and real estate development businesses.

Property developer and construction contractor KSH Holdings (SGX: ER0) is up next with a 1.1% fall to S$0.47. The company revealed last week that it had won a S$42.5m construction contract from international school United World College of South East Asia for its Singapore campus.

Construction work for the contract, which involves the addition of 1 block of a five-storey building along with other ancillary works for existing buildings, is expected to start sometime this month and be completed by August 2015.

Pawnbroker ValueMax Group (SGX: T6I) rounds up the trio. Its shares had slipped 1% to S$0.475. The company got listed here barely two months ago on 30 Oct at an offering price of S$0.51. With today’s close, ValueMax hasn’t exactly been rewarding for investors since its listening.

Its first earnings report, for the nine months ended 30 Sep 2013, saw revenue drop by 37% to S$242m compared to a year ago. Profits declined by a similar amount of 34% to S$8.3m. ValueMax, which has gold retailing operations, cited falling gold prices as the main reason for its revenue decline.

Meanwhile, the company’s profit drops were due to expenses that decreased roughly in-line with revenue.

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