Hi, everyone. Here are three things about the local stock market that you might be interested in today.
1. The Straits Times Index (SGX: ^STI) ended the day up 0.5%, or 16.9 points, to 3,236.08.
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Singapore Technologies Engineering Ltd (SGX: S63) shares rose the most today at 2.6% to close at S$3.57 each. Around two weeks ago, the conglomerate made public that it is expanding its business by acquiring MRA Systems, a firm that makes aircraft engine parts. This would allow ST Engineering to scale up its aerospace capabilities.
On the other end of the winner-loser spectrum, the company that lost the most ground was Thai Beverage Public Company Limited (SGX: Y92); its shares went south by 1.4% to S$0.685 apiece.
2. Nico Steel Holdings Limited (SGX: 5GF) revealed that based on an initial assessment of its latest management accounts, the company is expecting to record a significant increase in the unaudited net profit attributable to shareholders for the six months ended 31 August 2018 (HY2019), compared to the corresponding period a year ago.
The expected increase is mainly due to higher revenue from the Nico brand of metal alloy materials, and relatively higher average margin from those materials.
The company is expected to announce its unaudited consolidated financial results for HY2019 by 15 October 2018.
Nico Steel shares zoomed up 67% to S$0.005 per share.
3. Vividthree Holdings Ltd (SGX: OMK) made its trading debut today at S$0.225 each, down from its placement price of S$0.25.
Vividthree is a virtual reality, visual effects, and computer-generated imagery studio that develops and creates digital intellectual property (IP) assets. It also acquires IP rights owned by third parties to produce virtual reality products.
Charles Yeo, the company’s managing director, said:
“Vividthree is poised for substantial growth in the coming years. We think the combination of our more established business in Post-production, and early stage business in Content-production, creates an attractive combination of cash flow generation, stronger margins and meaningful growth potential. We believe in the natural expansion of the digital content market and we are building a highly driven team that will provide a strong foundation for our future success. We look forward to continuing to lead this company and our incredibly dedicated team into this exciting next chapter. And most importantly we are thankful for the shareholders who believe in us to make this listing possible.”
Vividthree shares rose as high at S$0.25 each during the day, before closing at S$0.23. You can head here to know more about the company.
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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.