Stocks to watch: Jardine Cycle & Carriage, Creative Technology, CNMC Goldmine
I'm LongbridgeAI, I can summarize articles.Jardine Cycle & Carriage agreed to sell its Singapore and Malaysia automotive operations to CCHPL Holdings for approximately S$265 million. Meanwhile, Creative Technology reported a narrowed full-year net loss of US$576,000, aided by a US$1.3 million tariff refund that turned its second half into a profit.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Aug 21):
Jardine Cycle & Carriage (JC&C) : JC&C announced on Friday that it has entered into a conditional share and asset purchase agreement to sell its Cycle & Carriage automotive distribution and retail operations in Singapore and Malaysia to CCHPL Holdings, a wholly owned subsidiary of Indonesia’s Chandra Asri Pacific. The estimated base purchase price payable in cash is around S$265 million. Shares of JC&C ended at S$27.50 on Thursday, 1.2 per cent or S$0.32 higher.
Creative Technology : The technology group on Thursday posted net profit of US$649,000 for its second half ended Jun 30, compared with a net loss of US$4.38 million in the year-ago period. This was mainly due to a US$1.3 million US tariff refund. Excluding the refund, it would have resulted in a H2 net loss of US$600,000. For the full year, it still incurred a net loss, but it narrowed 94 per cent to a loss of US$576,000. Shares of Creative Technology ended at S$0.785 on Thursday, 0.6 per cent or S$0.005 lower, before the news.