Stocks to Watch on Friday | Lianhe Zaobao

The likelihood of the Federal Reserve lowering interest rates in December has significantly decreased, causing the three major U.S. stock indices to face selling pressure on Thursday (November 20), with the Nasdaq index dropping 2.15%; the S&P 500 index and the Dow Jones Industrial Average fell 1.56% and 0.84%, respectively. According to the recent U.S. non-farm payroll report, nearly 120,000 non-farm jobs were added in September, far exceeding the market expectation of 50,000; the unemployment rate remained stable at 4.4%. As employment numbers surged, the market is concerned that the Federal Reserve will not further lower interest rates in December. Wilmer Stith, a bond portfolio manager at Wilmington Trust, believes that given the significant increase in employment, the Federal Reserve will choose to hold steady. Turning to the Singapore stock market, the Straits Times Index rose 0.15% or 6.65 points, closing at 4511.87 points on Thursday. Here are the stocks to watch on Friday (November 21): TT International announced on Thursday that it received a letter from a lawyer representing OCBC Bank on November 6, requesting TT International to repay approximately SGD 21.5 million in unsecured debt and about SGD 290,000 in secured debt. According to the letter, TT International must complete the payment within 21 days from the date the letter was delivered, or it will be deemed unable to repay, and OCBC Bank has the right to apply to the court for the liquidation of TT International. The company is currently assessing the impact of the related demands and will make timely announcements if there are significant developments. TT International has been suspended from trading since August 4, 2017. Coliwoo Group has signed a joint venture agreement with Macritchie Developments to purchase a freehold property located on King George’s Avenue. After the acquisition is completed, the property will be transformed into co-living spaces. Coliwoo Group's Executive Chairman and CEO Lin Longtian stated, "This joint venture acquisition allows us to incorporate a strategically located property into our asset portfolio, increasing the number of managed rooms and driving our growth trajectory." Coliwoo Group rose 0.89% to SGD 0.56 on Thursday. Reclaims Global has been awarded a contract worth SGD 15.5 million by a major contractor to provide earthworks, waste disposal services, and related machinery. The project is expected to be completed in the fiscal year ending January 31, 2027. Reclaims Global closed at SGD 0.40 on Thursday, unchanged. Wilmar International's Chinese subsidiary, Guangzhou Yihai, has been found guilty of contract fraud by a Chinese court and must jointly bear losses of RMB 1.881 billion (approximately SGD 350 million). Guangzhou Yihai has filed an appeal in court. According to the first-instance judgment, Guangzhou Yihai was deemed an accomplice in contract fraud and was fined RMB 1 million The former general manager of the company, Liu Degang, was sentenced to 19 years in prison and fined 2.8 million RMB for contract fraud and bribery. Previously, five subsidiaries of Wilmar International in Indonesia were accused of bribery from July to December 2021 during a local cooking oil shortage to obtain export permits, and were ordered to compensate for national losses and pay fines. Wilmar International reported a net loss of up to USD 347.7 million (approximately SGD 451 million) in the third quarter of this year. Wilmar International closed at SGD 3.29 on Thursday, down 0.90%