Although we don’t believe in timing the market or panicking over market movements, we do like to keep an eye on changes — just in case they’re material to our investing thesis. The Straits Times Index (SGX: ^STI) has closed at 3,299 points with a 0.6% gain. It was a field of green within the index’s 30 constituents as 24 shares had made some headway while only four others saw red. Let’s take a look at some market beaters outside the index. STATS ChipPAC (SGX: S24) continues its relentless surge with a 7.5% gain to S$0.645. The semiconductor testing…
The Straits Times Index (SGX: ^STI) has closed at 3,299 points with a 0.6% gain. It was a field of green within the index’s 30 constituents as 24 shares had made some headway while only four others saw red.
Let’s take a look at some market beaters outside the index.
STATS ChipPAC (SGX: S24) continues its relentless surge with a 7.5% gain to S$0.645. The semiconductor testing equipment outfit had been queried on Wednesday by stock exchange operator Singapore Exchange over its sharp jump that day (shares closed 25.5% higher at S$0.615 at that time).
STATS ChipPAC had first made known on 16 May 2014 that there was a third party who was interested in acquiring the company, though nothing was confirmed back then. In the company’s response to Wednesday’s query, it turns out that the company has pretty much no idea why the price jump happened. But, STATS ChipPAC revealed that it had received contact from more parties in relation to a possible takeover, though the company also mentioned that there has been “no material development since [the 16 May] announcement” in relation to the possible acquisition.
STATS ChipPAC’s shares have almost doubled from S$0.335 on 14 May 2014 to S$0.645 now. Judging from that kind of share price reaction, the market’s likely expecting a big bid for STATS ChipPAC in the near future.
QT Vascular (SGX: 5I0) is up strongly again today. Shares of the medical device maker had moved up by 8.3% to S$0.52. This follows yesterday’s 7.9% rise to S$0.48 following the company’s same-day announcement that one of its products, the Chocolate PTCA Balloon Catheter (a medical device used in coronary-related operations), is now allowed to be marketed in the USA for certain uses.
The company’s chief executive, Dr. Eitan Konstantino, had mentioned in the press release (regarding the marketing approval) that the “coronary business is an important element of [QT Vascular’s] 2015 growth.” He later added that the company’s also “look[ing] forward to working closely with physicians to generate clinical data and serve a larger patient population.” Given the share price reactions, the market’s certainly optimistic about what this development means for the company.
Logistics outfit Chasen Holdings (SGX: 5NV) rounds up the trio with a 1.2% climb to S$0.163. Last week, the company announced its full-year results for the financial year ended 31 March 2014.
In its latest earnings release, Chasen Holdings had managed to achieve both top- and bottom-line growth. Annual revenue grew by 28% to S$101.5 million while a loss of S$5.35 million a year ago had become a profit of S$2.5 million.
The company’s Relocation Business segment – where it helps its clients relocate machinery and equipment from one location to another – was the main growth driver for the company with an 87% increase in sales. In the ongoing financial year, Chasen also expects the segment to contribute positively to the company’s overall results.
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.