Three Shares that Lost to the Market Today

Singapore’s stock market had a poor showing today as the Straits Times Index (SGX: ^STI) fell 1.1% to 3,100 points. Most stock commentators were focused on weak economic data from China that just came out today.

Back to our local market, only five out of the STI’s 30 constituents had managed to make some gains while 23 others finished in the red.

What were some of the blue chips that did worse than the average of its peers? Let’s find out.

Southeast Asia’s largest bank by assets, DBS Group Holdings (SGX: D05), fell 1.8% to S$16.84. The bank would be releasing its full year results for 2013 on 14 Feb 2014. Over the nine months ended 30 Sep 2013, DBS had grown its total income (analogous to a company’s sales) by 11% year-on-year to S$6.78b. Meanwhile, its profits were 4% higher compared to a year ago at S$2.7b.

ComfortDelGro Corporation (SGX: C52) slipped 1.8% to S$1.93. The transport company had announced last Friday that it has sold its 80% stake in Shengyang ComfortDelGro Anyun Bus Co., Ltd for RMB83.3m (around S$17.2m).

That’s in addition to the sale of another wholly-owned subsidiary, Suzhou Comfort Toyota Sales & Service Co., Ltd, for RMB25m (around S$5.2m).

ComfortDelGro mentioned in the announcement that these sales “are not expected to have any material impact” on the company’s financials for the current financial year.

Commodities trader Olam International (SGX: O32) rounds up the trio with a 2.3% decline to S$1.47. Yesterday, the company revealed that it had managed to repurchase a number of its perpetual securities as well as some bonds that were due on 2022.

Olam had S$275m worth of perpetual securities, before the repurchase, that were yielding its holders 7% interest per year. The company managed to buyback S$39.2m worth of these securities. There’s S$235.8m of the perpetual securities left.

For the bonds, Olam had initially issued S$500m worth of bonds on October 2012 with an annual interest of 6%. Following the announcement yesterday, the company retired S$15m worth of the financial instrument and only S$485m’s left.

The company revealed that the repurchase of these securities were “in line with [its] balance sheet optimisation objective.”

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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.