Stocks to watch: CapitaLand, Datapulse, Cheung Woh, Ley Choon

The Singapore Exchange centre at Shenton Way.
The Singapore Exchange centre at Shenton Way. PHOTO: ST FILE

SINGAPORE - The following companies saw new developments which may affect trading of their shares on Tuesday (Jan 9):

CapitaLand: Stock watchers were happy campers on last week's news that CapitaLand is dropping 20 malls from its retail asset portfolio in China. RHB Research Institute Singapore upgraded the stock to a "buy" call, from its previous "neutral" stance, in a note on the morning of Jan 9. Other analysts such as DBS Research, CIMB and OCBC Investment Research also had "buy" positions.

Datapulse Technology: Datapulse Technology on Jan 8 said it would call two extraordinary general meetings (EGM) by Feb 26, following a move by the family of former Datapulse Technology chairman and co-founder to replace four directors on the company's board and re-evaluate the firm's diversification strategy. The digital media storage maker had in December received a requisition notice to convene an EGM from Ng Bie Tjin, the daughter of Datapulse's co-founder Ng Khim Guan, and Uniseraya Holdings.

Cheung Woh Technologies: The hard disk drive (HDD) manufacturer sank into the red with a net loss of S$449,000 for the third quarter of financial year 2018, compared to a profit of S$264,000 in Q3 FY2017. Turnover edged up 5.8 per cent year on year to around S$21.55 million bolstered by higher sales in the HDD components segment. However, cost of sales rose nearly 16 per cent to S$19.63 million on the back of higher materials and labour costs incurred.

Ley Choon: Construction firm Ley Choon Group Holdings on Monday said that it has won a contract worth about S$10.4 million from Singapore's national water agency PUB, through its unit, with the work involving the replacement of water mains.