Three Shares That Lost To the Market Today

The Straits Times Index (SGX: ^STI) had inched downward by 0.3% to 3,263 points after being dragged down by the fact that 18 out of its 30 components had made losses during the day. In contrast, only six other blue chips had managed to make some headway.

Outside the index, there were some unfortunate shares that clocked performances that were far worse. Let’s look at some shares that had lost to the market today.

Boardroom (SGX: B10) fell 4.3% to S$0.56. The company, which provides corporate secretarial and share registry services among others, had just handed in its third quarter report card on Wednesday. Top-line for the quarter came in 3.2% higher at S$14.1 million compared to a year ago while profits slipped by 21% to S$757,000.

The company’s share registry services business had driven its top-line growth but a big jump of 175% in taxes from S$182,000 to S$501,000 had dinged its bottom-line badly.

The structural-steel contractor and civil engineering outfit Yongnam Holdings (SGX: Y02) slid by 4.1% to S$0.235 after announcing its first quarter results yesterday evening. The numbers weren’t encouraging with quarterly revenue dropping 12.4% year-on-year to S$71.8 million. In addition, the company even slid into a loss of S$1.91 million as compared to a profit of S$11.5 million just a year ago.

Yongnam commented in its earnings release that it “expects FY2014 [financial year 2014] to be difficult as its performance continues to be dependent on the rate and extent of success in securing new contracts, most of which would start contributing only from the second half of FY2014.” That said, the company thinks better things are ahead for its market space of infrastructural developments and commercial projects in Singapore and there could still be some positive spill-over effects.

See Hup Seng (SGX: 566) rounds up the trio with its shares down by 3.2% to S$0.30 following the announcement of its first quarter earnings on Wednesday. The heavy industry player – with interests in structural steel engineering, corrosion prevention services, and petrochemical distribution – saw revenue for the quarter grow by 23% to S$85.3 million while profits spiked by 85% to S$3.87 million.

The company ended the quarter with a feeling of being “cautiously optimistic” about its businesses for the rest of the year and “expects [2014] to be another profitable year.”

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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.