CEFC International
The Securities Investors Association of Singapore (Sias) says it is concerned with the trading activity of CEFC International, which was issued with a "trade with caution" advisory by the Singapore Exchange (SGX) on July 21.
Sias noted "unusual trading activity" of the shares "without any fundamental change in the company's business". CEFC shares rose from 2.5 cents on July 7 to an intraday high of 40.5 cents on Aug 14 .
CEFC announced on July 7 that it was in talks with potential joint ventures to acquire equity interest in a company which owns a floating storage tank. But it said that no binding agreements were entered into, which it reiterated again yesterday.
The SGX has been querying CEFC on its trading activity, to which it said it was not aware of any information not previously announced that could explain the trading.
Ellipsiz
Net profit at semiconductor testing firm Ellipsiz fell 51 per cent to $6.7 million for the financial year ended June 30.
Revenue slid 22 per cent to $112.5 million for the year, owing to the divestment of its facilities and communication activities in the fourth quarter.
Earnings per share was down from 2.44 cents last year to 1.2 cents for this year. Net asset value was 21.80 cents at June 30, up from 21.13 cents a year back. A final cash dividend of 0.2 cents a share and final special cash dividend of 0.2 cents a share were proposed, compared with final cash and special cash dividends totalling 0.36 cents a share a year back.
Ellipsiz shares closed 0.5 cents lower at 9.3 cents on Tuesday.
Midas Holdings
A subsidiary of Midas, Jilin Midas Aluminium Industries Co, has won three contracts worth 94.6 million yuan (S$21 million) for the supply of aluminium alloy extrusion profiles for metro trains in China.
The first metro train supply contract worth 38.2 million yuan is from CNR Changchun Railway Vehicle Co for Shenzhen Rail Transit Line 9. The other two supply contracts are from Nanjing SR Puzhen Transport Co for Hefei Rail Transit Line 1, worth 32.7 million yuan; and for Suzhou Rail Transit Line 4, worth 23.7 million yuan.
The contracts are slated for delivery this year and the next, and are expected to contribute positively to Midas' financial performance for the two years.
