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Three Shares That Lost To the Market Today

The Straits Times Index (SGX: ^STI) has inched up 0.4% to 3,129 points today. Within Singapore’s stock market benchmark, 22 out of its 30 constituents had made gains while six others suffered losses.

Let’s take a look at some shares that failed to beat the market today.

IEV Holdings (SGX: 5TN) fell 3.3% to S$0.29. The provider of engineering solutions to the offshore oil and gas industry had turned in its full-year results for 2013 on Sunday. The numbers weren’t pretty. Annual revenue dropped more than half from RM316 million to RM144 million mainly because the company’s Offshore Engineering sector saw its revenue drop by RM179 million.

Meanwhile, IEV’s losses for 2013 widened from RM3.09 million in 2012 to RM3.61 million largely due to a big jump in taxes from RM211,000 to RM2.0 million; the company’s pre-tax losses had actually improved from RM3.05 million to RM1.55 million.

Food caterer Neo Group (SGX: 5UJ) dropped 2.1% S$0.93. The company, which also runs food & beverage retail outlets, had made known on Monday that the recent Lunar New Year has been great for it.

On the first day of the recent Lunar New Year, Neo Group had catered for 1,118 events, breaking its Singapore record of 1,005 catered events during the first day of the previous Lunar New Year. In the process, it had served and “delighted” more than 30,000 guests. This year also saw its festive-themed products jump up in sales, with more than 7,452 platters of “Yu Sheng” sold compared to 5,995 in the previous year, for instance.

On Tuesday, Neo Group also revealed its efforts in promoting local sports with a S$300,000 sponsorship of Singapore’s table tennis team. The sponsorship, which will vest over three years, would see the Neo Garden Catering branding appear on the Singapore National table tennis team’s jerseys.

Neo Kah Kiat, the founder, chairman, and chief executive of Neo Group, added: “I believe our sponsorship provides the perfect opportunity to allow youths to develop their passion or table tennis and nurture them to be the vest that they aspire to be. I see a reflection of myself in them as I was equally fervent about table tennis many years back.”

Datapulse Technology (SGX: D04) rounds up the trio with its shares down by 0.7% to S$0.147 after turning in a loss for its latest second quarter results. The solutions provider for CD and DVD services had released its earnings yesterday and saw quarterly revenue decline by 26% year-on-year to S$6.65 million while its bottom-line turned a profit of S$1.9 million in the previous year into a loss of S$160,000.

The company had seen “weak demand for media storage products and services” resulting in the fall in its revenue. While most of Datapulse’s expenses had dropped in-line with revenue, its depreciation expense jumped by 58% from S$799,000 to S$1.27 million, eventually resulting in the losses.

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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.