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 declined by 0.5% to 3,274 points today. Singapore’s stock market barometer had been dragged down after 19 of its 30 constituents had finished the trading session in the red while having only three shares end up in the green. As shares with gains were a rare occurrence in the index today, let’s turn our attention to shares outside the benchmark…
The Straits Times Index (SGX: ^STI) has declined by 0.5% to 3,274 points today. Singapore’s stock market barometer had been dragged down after 19 of its 30 constituents had finished the trading session in the red while having only three shares end up in the green.
As shares with gains were a rare occurrence in the index today, let’s turn our attention to shares outside the benchmark to find some market-beating shares.
Transcorp Holdings (SGX: T19) rose by 4.4% to S$0.24. Last Friday, the company released its results for the half-year period ended 30 April 2014. The company’s revenue had jumped from S$289,000 a year ago to S$11.4 million on the back of the sale of its golfing equipment retail businesses. Its bottom-line had also increased significantly from a loss of S$931,000 to a profit of S$10.6 million as a result of the sale.
Currently, the company’s “focusing on its existing business activities in property development and property leasing.” In addition, Transcorp’s board is also looking at other opportunities and the company would be making the relevant announcements as and when needed.
Yesterday, the company had made a minor amendment to its financial results for the six months ended 30 April 2014. The company had made a mistake in the financials that was first released last Friday – the dividend for the period was initially stated as S$0.15 per share when it should have been S$0.12 per share instead.
Dormitory operator Centurion Corporation (SGX: OU8) climbed by 2.2% to S$0.695. A few weeks back, the company had formed a 49-51 joint venture with an individual, Beh Pang Keat, to purchase a plot of land in Malaysia for RM11.7 million (around S$4.56 million).
It’s an interesting purchase by Centurion as the target is currently only zoned for agricultural use even though it’s located close to a number of industrial and technology parks (including Eco Setia Industrial Park, Southern Industrial and Logistics Clusters, and Ascendas-UEM Integrated Tech Park) in the Nusajaya district of Iskandar Malaysia.
Centurion’s joint venture has the intention to convert the zoning for the piece of land into one that can allow for industrial use. If that succeeds, the joint venture would be developing worker dormitories there.
QT Vascular (SGX: 5I0) gained 2% to S$0.515 following its first quarter earnings announcement last Friday. The company, which manufactures minimally invasive medical products used for the treatment of complex vascular diseases, had seen a huge 340% year-on-year jump in its quarterly revenue to US$2.8 million due mainly “to an increase in sales of its Chocolate® PTA Balloon Catheter.”
Unfortunately, the company’s loss for the quarter widened from US$4.1 million a year ago to US$9.2 million. A big jump in sales, marketing, and administrative expenses from US$2.4 million to US$5.57 million had dinged QT Vascular’s bottom-line.
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