Stocks to Watch on Monday | Lianhe Zaobao

Concerns about the artificial intelligence (AI) bubble in technology stocks have continued to pressure the U.S. stock market recently, with the Nasdaq index, which has a significant weight in technology stocks, experiencing its third consecutive week of decline as of last week. However, expectations for a rate cut by the Federal Reserve in December have provided some breathing room for the stock market.

The Nasdaq index rose 0.88% on Friday (November 21); the S&P 500 index increased by 0.98%; and the Dow Jones Industrial Average rose by 1.08%.

The Straits Times Index in Singapore closed down 0.95% or 42.73 points on Friday, ending at 4469.14 points; the index fell a total of 1.86% last week.

Here are some stocks to watch on Monday (24th):

1. Lum Chang Creations, which went public in July this year, announced before the market opened on Monday that its subsidiary Lum Chang Interior has secured two new contracts with a total value of approximately SGD 63.4 million, from the Ministry of Social and Family Development and Orchard Road Presbyterian Church, with expected completion dates of June 3, 2028, and November 20, 2027, respectively. The company's stock closed at SGD 0.48 on Friday, down 1.03%.

2. Local interior renovation and engineering company Attika Group announced before the market opened that it has recently secured three new projects with a total value of approximately SGD 26 million; the largest of which is for internal renovation services for a local data center, accounting for nearly 80%; the other two projects include a clean-room contract and an interior renovation project under a long-term contract with the National Library Board. Attika Group's stock price remained unchanged on Friday, closing at SGD 0.30.

3. Two companies listed on the Catalist board, Sanli Environmental and Lincotrade & Associates, both announced a suspension of stock trading before the market opened, with reasons pending announcement. Sanli Environmental's stock price fell 1.7% to SGD 0.29 on Friday, while Lincotrade & Associates dropped 6.67% to SGD 0.21.

4. GDS Global reported a turnaround from loss to profit, with a net profit of SGD 200,000 for the full year ending September, compared to a loss of SGD 2.27 million in the same period last year. Revenue increased by 70.6% year-on-year to SGD 22.79 million, mainly driven by growth in exports and sales from completed projects. Gross profit rose by 69.9% to SGD 7.52 million. GDS Global's stock price fell 1.37% on Friday, closing at SGD 0.072.

5. Electromechanical engineering service company Ever Glory United Holdings disclosed on Saturday (22nd) that it has applied to transfer its stock listing from the Catalist board to the main board and has received in-principle approval from the Singapore Exchange The company will seek shareholder approval at the upcoming special shareholders' meeting. Hengrong Group fell 3.52% last Friday, closing at HKD 0.685.

6. Hatten Land, which is currently suspended from trading, is acquiring 100% of Metrocon Pte. Ltd from local contractor LBD Engineering through a reverse takeover, with a total transaction amount of HKD 24 million. Metrocon is a Singaporean company primarily engaged in general construction work, including piling and large-scale renovation projects. The company plans to issue approximately 5.57137 billion ordinary shares to LBD Engineering to pay for the acquisition. If the transaction proceeds smoothly, LBD Engineering will own about 60% of the company.

Hatten Land entered judicial management last August. The judicial manager believes that the proposed acquisition will allow the company to enter a business area with growth potential and provide an opportunity to negotiate with creditors to restructure and rectify the company's financial situation. The latest share price of Hatten Land before the suspension was HKD 0.011