Stocks to watch: SPH, AEM, Accrelist, Jubilee Industries, HC Surgical Specialists

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jan 12):

Singapore Press Holdings (SPH) T39: In a business update, the group said its overall business improved in the first quarter to November following the gradual recovery of the economy. On the purpose-built student accommodation front, SPH said it has achieved 98.7 per cent of its target revenue for the current academic year 21/22, and could exceed its target, given that there are still unoccupied rooms being marketed. Shares of the counter ended Tuesday flat at S$2.34 before the announcement.

AEM Holdings AWX: The mainboard-listed company, which provides advanced chip testing solutions, announced a revenue guidance of between S$670 million and S$720 million for FY2022. It is, however, anticipating some margin compression in the coming financial year, in view of higher supply chain costs and an increase in research and development spending as it engages customers on new projects. Shares of AEM hit a near 2-week high on Tuesday before the revenue guidance was released, closing up 4.6 per cent or S$0.23 at S$5.22.

Accrelist QZG, Jubilee Industries NHD: The board of Catalist-listed Accrelist announced on Tuesday that the Corrupt Practices Investigation Bureau has discharged its managing director and executive chairman Terence Tea. Tea is also executive chairman and chief executive of Accrelist's subsidiary Jubilee Industries. The investigations relate to a S$5,000 hongbao that Honfoong Plastic Industries, a Jubilee subsidiary, gave to a customer at a dinner. Before the announcement on Tuesday, Accrelist shares closed down 3.5 per cent or S$0.002 at S$0.055, while Jubilee Industries shares ended at S$0.057, up 9.6 per cent or S$0.005.

HC Surgical Specialists 1B1: The Catalist-listed medical services company's net profit slipped 7.2 per cent to S$4.6 million from S$5 million the previous year. This is in part due to a decline in revenue as fewer patients pursued elective medical treatments amid the heightened Covid-19 situation across the half year ended Nov 30. Its unaudited results released on Tuesday also showed that revenue was down 5.2 per cent to S$10.4 million from S$11 million the year before. Shares of HC Surgical Specialists ended Tuesday flat at S$0.55 before the announcement.