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Singapore “Flyer” of the Week: Innopac Holdings Limited

Investment holding and management company Innopac Holdings (SGX: I26) flew 42.9% during the week, closing at $0.02 per share on Friday. Such a performance has made the companyour Singapore “Flyer” of the Week.

Headquartered in Singapore, Innopac currently has investments in properties and equities. The firm, which was once known as Colonel Sanders Kentucky Fried Chicken Pte Ltd, also has an interest in a parcel of land in Washington, USA that might be used for further development.

On 13 June, the company released its Notice of Annual General Meeting (AGM) for the financial year ended 31 December 2013. The firm mentioned that the AGM will be held at 30 Prinsep Street, Income at Prinsep Level 8, Singapore 188647 on 27 June at 2.00 p.m. Shareholders are strongly encouraged to go for AGMs as it usually presents shareholders with a rare opportunity to talk to the stewards of the company and understand where the firm will be headed in the near future.

On 12 June, Innopac explained why there were variations between the preliminary unaudited results for the latest financial year that just ended and the 2013 Annual Report. Most of the changes were due to an additional provision of S$33.7 million for a derivative receivable transaction and reclassification of items in the various financial statements.

As of Friday’s close, the company is trading at 1.1 times its historical book value.

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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 contributor Sudhan P doesn’t own shares in any companies mentioned.