HK-listed Singamas Container sinks to 6-month low on weak H1 forecast

Singamas Container Holdings

29/07/2019 03:18

** Shares of Singamas Container Holdings Ltd  0716.HK  fall
as much as 6.4% to HK$1.02, their lowest since Jan 24, after the
container manufacturer warns of deeper loss in H1 2019
    ** Co expects its first-half net loss to widen to $35 mln
from $2.1 mln loss a year ago, amid Sino-U.S. trade
tensions urn:newsml:reuters.com:*:nFWN24R020
    ** Says performance is also hit by a sharp drop in average
selling price of 20 feet dry freight container due to soft
demand for new container amid intense competition 
    ** Co expects upcoming financial period to be challenging
    ** As of Friday's close, stock had risen 3.8% this year
    ** Singamas Container has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 6.7 percentage
points in the past month
    ** The Hong Kong benchmark index  .HSI  slides 0.9%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)