Singapore stock watch: BreadTalk warns of full-year loss on HK protests, F&B weakness

The Singapore Exchange Centre in Shenton Way. PHOTO: ST FILE

SINGAPORE (THE BUSINESS TIMES) - THE following companies saw new developments that may affect trading of their securities on Friday (Jan 17):

BreadTalk Group: The mainboard-listed food and beverage player expects a net loss for FY2019 ended December, due to weakness in its bakery and food concept divisions, coupled with the turmoil in Hong Kong, the company announced in a profit guidance on Thursday after trading hours. The red ink will likely spill from widening losses at the bakery business in China and Thailand, as well as from several brands within its 4orth food concepts division, including Wu Pao Chun, Song Fa, Tai Gai and Nayuki. BreadTalk shares closed at $0.69 on Thursday, up 3.5 cents or 5.3 per cent.

GuocoLand: The property developer saw its earnings rise almost threefold to $32.4 million for the second quarter ended December, buoyed by a doubling in revenue to $299.6 million, thanks to higher progressive recognition of sales from Martin Modern. GuocoLand shares closed at $1.92 on Thursday, up one cent or 0.5 per cent before the announcement.

Cache Logistics Trust (CLT): The Competition and Consumer Commission of Singapore has launched a public consultation on a strategic deal between fund manager Logos Group and ARA Logistics, a unit of ARA Asset Management. In December, ARA announced plans to transfer its entire holdings in CLT and ARA Trust Management (Cache) to Logos. CLT shares closed at $0.735 on Thursday, up 0.5 cent or 0.7 per cent before the announcement.

Q&M Dental Group: A former Mrs Malaysia Universe and her husband have agreed to pay Q&M Dental Group RM3.5 million (S$1.2 million) as part of a settlement with the mainboard-listed company, which sued them for alleged breach of agreements. Q&M shares closed flat at $0.48 on Thursday before the announcement.

Rex International: The Catalist-listed oilfield services firm's 90 per cent-owned unit Lime Petroleum has clinched stakes in two new offshore licences in the Norwegian Sea, under the country's 2019 Awards in Predefined Areas round. Rex shares closed at $0.181 on Thursday, down 0.3 cent or 1.6 per cent, before the announcement.

Tee International: The mainboard-listed engineering firm has secured an engineering maintenance contract for a mixed development in Singapore, and renewed other contracts in Thailand, according to a bourse filing on Thursday. The counter closed at $0.051 on Thursday, down 0.5 cent or 8.9 per cent before the announcement.

Ellipsiz: The mainboard-listed firm has exited its loss-making joint venture Kalms Investment Pte Ltd, and instead invested $500,000 in Indovend, a newly-incorporated company involved in the trade of vending machines. Both actions are part of Ellipsiz's restructuring of its vending-solutions segment. Ellipsiz shares closed at $0.40 on Thursday, down 2.5 cents or 5.9 per cent, before the announcement.

Chasen Holdings: The mainboard-listed firm has agreed to buy the remaining 30 per cent stake it does not already own in its unit, Chasen Transport Logistics Company (Vietnam) (CTL), for 6.665 billion dong (S$387,000). An individual, Vo Quoc Vu, currently holds the 30 per cent stake. Shares of watch-listed Chasen closed flat at $0.078 on Thursday before the announcement.

IPC Corp: The mainboard-listed property developer expects its results for FY2019 ended December to be hit by a fair-value writedown adjustment. In a regulatory update on Thursday, IPC said it faces a "significant decrease" in the fair value of its preference shares investment in Nest Hotel Japan, based on an independent valuation report made available to IPC's board. IPC Corp shares closed at $0.28 on Thursday, up 0.5 cent or 1.82 per cent before the announcement.

Trading halt: Lifestyle group LifeBrandz has called for a trading halt pending the release of an announcement.

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