Three Shares that Lost to the Market Today

Singapore’s stock market made some small gains today as the Straits Times Index (SGX: ^STI) moved up 0.2% to 3,134 points. There were 12 shares that managed to end the trading session with some gains while 14 others had made losses.

Let’s take a look at some shares that lost some ground today.

China Environment (SGX: 5OU) is down 4% to S$0.60. The China-based industrial waste gas treatment solutions provider had announced yesterday that it has won two contracts worth a total of RMB393.6m.

The first contract’s for a relatively small sum of ‘only’ RMB11m and was awarded by Nanjing Iron and Steel United Co. Ltd. “for the upgrading of two units of electrostatic precipitators to meet new emission standards of 30mg/m3 and to reduce the level of PM2.5 using newly developed PM2.5 removal technology.”

Meanwhile, the second contract is a lot bigger at RMB382.6m and is from the China Energy Engineering Group Shanxi Province Electric Company Electric Environmental Equipment Main Factory “for the supply of industrial dust collectors for five projects in 2014.”

The works for both contracts are expected to be completed by this year and investors can look forward to positive earnings contributions from them in the current financial year.

Civil engineering and construction firm Lian Beng Group (SGX: L03) dropped 1.8% to S$0.54. It reported half-year results last week.

For the six months period ended 30 Nov 2013, revenue jumped 39.6% year-on-year to S$328m but profits actually contracted by 13.2% to S$16.7m. The company’s construction, property development, and ready-mix concrete business segments all contributed to its top-line growth but an increase in higher selling and marketing costs was one of the factors that dinged its profits.

Lian Beng also commented that its construction order book stood at S$1b as of 30 Nov 2013. The company’s chairman, Ong Pang Aik, commented on the company’s outlook: “With the upward revision of Singapore’s construction demand from between S$22 billion and S$30 billion to between S$31 billion and S$38 billion for 2014, we would be able to seize the potential opportunities to tender and secure for more public and private sector projects.”

Koh Brothers Group (SGX: K75) slipped 1.6% to S$0.305. The construction outfit announced last week that its joint venture with Heeton Holdings (SGX: 5DP) had won a bid for a 99-year leasehold site at Westwood Avenue in Jurong West, Singapore for S$382 per square feet per plot ratio (psf ppr).

The plot of land is on a land area of about 186,052 sq ft and has a maximum gross floor area of approximately 520,945 sq ft and the joint venture won it for a total of S$198.9m. The plan’s to build an Executive Condominium with around 480 units with two- to five-bedrooms.

Chief executive of Koh Brothers, Francis Koh, expressed his optimism for the deal “given its attractive location and the ongoing transformation of the Jurong vicinity.” The plot of land is located near shopping malls, Nanyang Technological University, a library, and a stadium.

Koh added that the company’s anticipating “strong interest from buyers [for the development], particularly from public housing upgraders and first-time owner-occupiers.”

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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.