Three Shares That Lost To the Market Today

With 18 blue chips making some headway today, the Straits Times Index (SGX: ^STI) managed to inch up by 0.3% to 3,204 points as those 18 shares managed to overcome the seven others that had made losses.

Turning our sights away from the index, let’s look at some shares that lost to the market today.

Logistics facilities provider Global Logistic Properties (SGX: MC0) dropped by 2.3% to S$2.56. Yesterday, the company revealed that it would be developing a 37,000 square metre build-to-suit facility for Japan-based third-party logistics provider, Trinet Logistics.

The facility, named GLP Kobe-Nishi, would be the main distribution centre in Greater Osaka, Japan, for Trinet Logistics. The company also praised Global Logistic Properties in the announcement, with Shigeru Hashimoto, president of Trinet, commenting: “We are pleased to further strengthen our partnership with GLP, the leader in Japan’s logistics property market. GLP Kobe-Nishi’s strategic location and high quality specifications will help us greatly in maximizing operational efficiency and meeting our customers’ needs.”

SATS (SGX: S58) slipped by 1.3% to S$3.04. The company, which provides ground handling services, in-flight food catering, and food processing services, announced late last month that it would be extending the deadline for completion of its acquisition of ferry terminal operator Singapore Cruise Centre.

Last September, SATS had revealed that it was looking to acquire Singapore Cruise Centre from Temasek, one of the Singapore government’s investment arms, in a deal that values the ferry terminal operator at S$110 million. However, the deal was subjected to regulatory approval from the Competition Commission of Singapore (CCS), among others. Initially, SATS was looking for all the necessary approvals to be granted by 31 March 2014, but with the CCS still in the second phase of its review regarding the acquisition, SATS and Temasek had agreed to push back the deadline to 30 Sep 2014.

Ezion Holdings (SGX: 5ME) finished the day flat at S$2.11. The oil & gas outfit was recently revealed to be taking a major stake in information technology products supplier JK Tech Holdings (SGX: 5TS) with the latter looking to embark on a new line of business that it’s never done before: The production and exploration of oil & gas.

While the deal’s still subjected to approvals from JK Tech’s shareholders, Ezion Holdings would be buying 42 million new shares of JK Tech for S$0.09 each and at the same time, be granted 260 million options to purchase additional new shares for S$0.09 each. After the news was announced last Friday, JK Tech’s shares had jumped by a tremendous 243% to S$0.515 yesterday. Ezion’s investors weren’t so enamoured however, as its shares dropped by 1.4% to S$2.11 on Monday from last Friady’s close of S$2.14.

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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.