THE following companies saw new developments that may affect trading of their securities on Thursday (Dec 12):
Del Monte Pacific: The Philippine food-and-beverage manufacturer’s net loss deepened to US$22.2 million for the second quarter ended Oct 31 from US$8.5 million in the previous corresponding period. The company on Wednesday attributed this to its US subsidiary Del Monte Foods’ lower profit and higher costs. It expects a net loss for FY2025, but aims to “actively restore” its gross margins and gradually improve in FY2026 and FY2027 by reducing inventory, cutting costs and consolidating underused assets. The counter closed flat at S$0.08 before the update.
Trek 2000 International: Massage chair and appliance manufacturer Osim International and its founder Ron Sim have alleged that former Trek 2000 chairman Henn Tan made fraudulent representations that they relied on to purchase 24 million ordinary and four million treasury Trek 2000 shares in 2015. The mainboard-listed technology company, which has been on the Singapore Exchange’s (SGX) watch list since 2023, said on Wednesday that the allegations were baseless. Tan was sentenced to jail in 2022 for accounting fraud that covered up the company’s dismal financial performance. The counter closed 1.4 per cent or S$0.001 lower at S$0.072 before the update.
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