This week, the STI ETF opened at $3.260 and closed lower at $3.220. The biggest news this week that has impacted the markets is the US export ban on Huawei.
Here in Singapore, Eagle Hospitality Trust’s lacklustre IPO has been amongst the news, along with Allied Tech’s missing funds.
Allied Tech (SGX: A13)
Allied Tech is a precision engineering that has been all over the news in recent days due to missing funds of $33 million.
Allied Tech held funds of $33 million in an escrow account with law firm JLC Advisors. However, the entire $33 million has gone missing after an unauthorized payout by a lawyer that is uncontactable.
As a result of these missing funds, Allied Tech will not be buying Aik Chuan Construction, a construction and dormitory operator, and its subsidiaries. This acquisition proposal was a $130 million deal that will now be terminated.
Previously trading at highs of $0.086 in 2018, Allied Tech has gone down significantly over the past year, opening at $0.013 in 2019. Allied Tech requested for a trading halt on 3 May, with the last traded share price at $0.011.
Frencken Group Limited (SGX: E28)
Frencken Group Limited is a global high-tech capital and consumer equipment service provider. Frencken operates two divisions: Mechatronics and Integrated Manufacturing Services (IMS). Frencken serves a diverse base of customers globally, including Europe, Asia and USA.
Frencken’s dividend yield has increased in the recent years. This year, dividend has gone down slightly from 2.39 cents per share in 2018 to 2.14 cents per share in 2019. Since the start of 2019 when it opened at $0.42, Frencken’s share price has gone up an impressive 44%, closing at $0.605 on Friday.
InnoTek Limited (SGX: M14)
InnoTek is a precision metal components manufacturer. InnoTek’s products and services serves the consumer electronics, office automation and mobility device industries.
InnoTek has given out 1.5 cents per share in dividends for 2019. InnoTek’s share price has risen significantly in 2019. It opened at $0.411 at the start of 2019 and has since increased 33.8% to close at $0.550 on Friday.
Sunningdale Tech (SGX: BHQ)
Headquartered in Singapore, Sunningdale Tech offers its products to MNCs and equipment manufacturers in numerous countries, including Singapore, Thailand, Indonesia, China, USA and Europe.
Sunningdale Tech manufactures and sells dies, tools, jigs, fixtures, high precision steel molds, and plastic components. The company has four major segments: Automotive, Consumer/IT, Healthcare, and Mould Fabrication.
Sunnindale Tech has given investors dividends of 5 cents per share in 2019. Since the start of 2019, Sunningdale has dropped 11% from $1.45 at the start of the year to close at $1.29 on Friday.
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