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Three Shares That Lost To the Market Today

Ahead of a long weekend, the Straits Times Index (SGX: ^STI) has done its best to spread some festive cheer by finishing flat for the day at 3,254 points. Around 14 of the index’s 30 constituents had ended the trading session with gains while 11 others had made losses.

Let’s take a look at some of the unfortunate blue chips.

The conglomerate Keppel Corporation (SGX: BN4) lost some 1.8% of its market value when it closed at S$10.99. Yesterday evening, it had announced its first quarter earnings and it seems the market’s not happy with it has seen. That’s also no real surprise, given that Keppel Corp’s quarterly profits had dropped by 5.1% to S$339 million even as its revenue grew by some 8.6% to S$3.0 billion.

Singapore’s flagship carrier Singapore Airlines (SGX: C6L) had slipped by 1.3% to S$10.29. The airline had revealed yesterday that its full-year results would be out on 8 May 2014. In the first three quarters of its financial year, SIA had seen improvements in both its top- and bottom-line; sales came in 1.6% higher at S$11.6 billion while profits improved by 7% to S$332.5 million.

While the figures for the first nine months have improved, the company did caution in its third quarter earnings release that the air transport industry’s outlook “continues to be challenging” and at the same time, also revealed weaker advanced passenger bookings for the fourth quarter. Investors would know for sure if SIA had managed to continue its momentum for improvement when it hands in its results in a few weeks’ time.

SembCorp Industries (SGX: U96) fell by 1.5% to S$5.40. The energy, water, and marine group had recently set out on developing a new industrial wastewater treatment plant in China’s Hubei province, according to an announcement it made last week.

The company would be entering into a joint venture with Jinngmen Xiuyuan Investment Company. SembCorp Industries would own 95% of the venture with its partner, a company with ties to the Chinese government, holding the remaining 5% stake.

The new treatment plant would be SembCorp Industries’ “first beachhead in Jingmen city” and would be located in the 27.6 square-kilometre Jingmen Chemical Industrial Park. The treatment plant is expected to be completed in the first half of 2016 and once it’s up and running, it would have a 30-year exclusive concession to provide industrial wastewater treatment services to companies within Jingmen Chemical Industrial Park. 

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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.