Three Shares That Lost To the Market Toady

A 0.8% increase brought the Straits Times Index (SGX: ^STI) to 3,220 points. It was a good day for Singapore’s blue chips as 24 out of the index’s 30 constituents managed to end the trading session with gains while only five others suffered losses.

But while the blue chips did well in general, there was more than a fair number of casualties outside the index. Let’s take a look at some shares that lost to the market today.

LionGold Corp (SGX: A78) collapsed by some 17.6% to S$0.122 after announcing today that the Commercial Affairs Department (CAD) had ordered the company to provide it with information from 1 Jan 2011 onwards regarding Lynne Ng Su Ling and Peter Chen Hing Woon. Ng’s an independent director of LionGold while Chen’s an employee.

Last October, shares of LionGold, Blumont and Asiasons Capital fell by a stunning 90% or more in the space of three trading days. According to a Reuters report, the Monetary Authority of Singapore “is now working with [the CAD] on possible breaches of the Securities and Futures Act related to trading in those three stocks.” The CAD’s order for LionGold to provide information related to the two individuals is thus linked to that investigation.

Boustead Singapore (SGX: F9D) fell 1.4% to S$1.825. On 26 March 2014, the company revealed that its order book backlog had been raised to more than S$450 million for the financial year ended 31 March 2014 after its Energy-Related Engineering division inked over S$50 million worth of new contracts in recent weeks.

The division has done really well in the financial year as it managed to secure more than S$200 million in oil & gas contracts. That’s a great improvement over the previous financial year when the business division managed to snag only S$111 million in new deals.

Electronic products manufacturer Aztech Group (SGX: 560) dipped by 0.7% to S$0.153. The company made known on Tuesday that it would be releasing its first quarter results on 23 April 2014.

In its latest earnings release for the 12 months ended 31 Dec 2013, Aztech saw a 7.8% increase in sales to S$241 million while profits soared from S$0.23 million to S$6.5 million. But despite a strong improvement in its performance, the company warned that it expected 2014 to be “challenging”. All told, Aztech was “cautiously optimistic of its performance for [the first quarter of 2014] and the next 12 months.”

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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.