Stocks to watch: Hi-P, Asiatic Group, Lian Beng, Tee Land, Tee International

The Singapore Exchange Centre in Shenton Way. ST PHOTO: JASMING CHOONG

SINGAPORE - The following companies saw new developments which may affect trading of their shares on Monday (Oct 15):

Hi-P International: Integrated contract manufacturing services provider Hi-P International said on Sunday that, based on a preliminary review of its performance, the group now expects lower revenue and profit for the third quarter ended Sept 30, 2018, against the same period last year. This is contrary to the guidance it had provided in its Q2 2018 unaudited financial results announcement made on Aug 1; in that statement, the group had said that it expected higher revenue but similar profit in Q3 2018 as compared with Q3 2017.

Asiatic Group (Holdings): Catalist-listed Asiatic Group (Holdings) has inked a conditional share subscription agreement that will give the buyer a 14.9 per cent stake in the company, the board said on Friday. Businessman Stephen Leong, acting through investment vehicle Sincom Holdings, has agreed to subscribe to 232 million new shares at $0.0165 apiece - or a 65 per cent premium to the last close.

Lian Beng Group: Mainboard-listed construction player Lian Beng Group saw smaller profits in the first quarter, as new accounting standards ate into its share of profits from a Catalist-listed spin-off. Net profit fell by 38.9 per cent year-on-year to $6.97 million for the three months to Aug 31, according to unaudited results released on Friday.

Tee International, Tee Land: Increased cost of sales and other expenses pushed Tee International further into the red in its first quarter ended Aug 31, as net loss worsened to $3.8 million, from a net loss of $918,000 in the previous year, the group said in a Singapore Exchange filing on Friday. Loss per share stood at 0.77 cent, from a loss per share of 0.18 cent in the preceding year.

Asian Healthcare Specialists: The orthopedic services provider has requested for a trading halt, pending release of an announcement.

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