Singapore’s Big Winner of the Week: 3Cnergy Ltd

One of the big winners in our share market this week is 3Cnergy Ltd (SGX: 502). Shares of the firm have soared by 40% since last Friday to close at S$0.35 on Thursday.

Comparatively, Singapore’s market benchmark the Straits Times Index (SGX: ^STI) gained “only” 1.7%.

Founded in 1980, 3Cnergy provides real estate and housing agency services for residential, commercial, and industrial markets. It also offers bank referral services, training services, and classified advertisement booking services, among others.

On 14 April, the firm announced that it is looking to sell off its entire stake of 200,000 shares in HSR International Realtors Pte Ltd, a real estate outfit, to Mr. Ng Kai-Man for a cool S$2 million.

According to its website, HSR was established here in 1980 and “is a leader in the marketing of both primary and secondary markets, local and overseas properties, providing comprehensive real estate services to the residential, commercial and industrial markets”.

Meanwhile, Mr. Ng is the Chairman of Century 21 Singapore, which is also a real estate firm.

The announcement was very brief as both parties will be holding a discussion on the terms before signing a formal agreement.

The very next day on 15 April, 3Cnergy made another announcement but this time it was about how a key personnel, Mr. Bernard Tong Kim Chun, would be stepping down from the company.

He used to be the Head of Operations of HSR and resigned to “pursue [a] new career opportunity”. He is also the nephew of Malaysian businessman, Mr. Tong Kooi Ong, a Non-Executive Chairman and a majority shareholder of 3Cnergy.

3Cnergy doesn’t have a price-to-earnings ratio to speak of as it made a loss of S$5.2 million in 2014. It is currently trading at a historical price-to-revenue ratio of 1.6.

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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.