Three Shares That Lost To the Market Today

Singapore’s stock market edges higher as the Straits Times Index (SGX: ^STI) gains 0.1% to 3,129 points. Within the index’s 30 constituents, there were 16 shares that had managed to end the trading session in the green while 12 others had suffered a drop in value.

Let’s take a look at some shares that fared worse than the index.

Pacific Andes Resources Development (SGX: P11) dropped 2.3% to S$0.128. The integrated frozen fish supplier had recently been dropped from a number of Singapore’s stock market indexes after FTSE, the Straits Times, and Singapore Press Holdings had ended their semi-annual review for the various indexes on 6 March 2014.

It was decided that Pacific Andes would be removed from the FTSE ST China Index, FTSE ST China Top Index, and FTSE ST Small Cap Index. The changes to the index would be effective as of 24 March 2014.

The company hasn’t exactly had a good 2013. For the three months ended 28 Dec 2013, Pacific Andes’ revenue managed to inch up by 2% to HK$2.43 billion but its profits got slashed by nearly half to HK$104 million from HK$199 million.

AsiaPhos (SGX: 5WV) fell 1.3% to S$0.15. The phosphate rock miner and manufacturer of phosphate-based chemical products became a publicly-listed company on Oct 2013 at S$0.25 a share. So, the company’s early investors are certainly feeling the pinch with its shares down by some 40% since its IPO.

The company’s latest results for 2013 had revenue jump by 73%. But, its bottom-line showed losses of S$3.67 million instead of a profit of S$1.23 million in 2012. AsiaPhos’ profits were dinged for a number of reasons: 1) the company “continued to ramp up its operation for future expansion”, resulting in higher operational costs; 2) there were one-off costs associated with its listing and; 3) there was a deferred tax charge of S$1.4 million during the year.

In any case, Dr Ong Hian Eng, chief executive of AsiaPhos, seems confident of his company’s prospects as he commented that the strong revenue growth “is a strong indication of the success of [AsiaPhos’] rebuilding efforts and the potential of the business.”

Ong also expects the company’s results to improve going forward once “economies of scale sets in with [its] business expansion.”

Healthcare provider International Healthway Corporation (SGX: 5WA) rounds up the trio with its shares flat at S$0.32. The company had just announced yesterday that it would be acquiring a freehold commercial property in Melbourne, Australia, for A$45 million (around S$51.8 million).

This is International Healthway’s first foray into Australian shores and the company has plans to “reposition the property over the next few years” to take advantage of the medical services provided by the 688-bed Alfred Hospital that’s located next to the property.

The company sees Australia needing more healthcare services and facilities as its population ages, and wants to get a foot into the door with this acquisition.

Click here now for your FREE subscription to Take Stock Singapore, The Motley Fool’s free investing newsletter. Written by David Kuo, Take Stock Singapore tells you exactly what’s happening in today’s markets, and shows how you can GROW your wealth in the years ahead.  

The Motley Fool’s purpose is to help the world invest, better. Like us on Facebook  to keep up-to-date with our latest news and articles.

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.