JEL Corp

JEL Corp

JEL Corp: The stock rose 26 percent to an all-time high of S$0.126 on Wednesday on speculation that recent investment in JEL by Singapore tycoon Sam Goi will improve operations at the unprofitable company.
Around 300 million JEL shares were traded, making the company the most actively traded stock on the Singapore exchange. The exchange issued a query regarding the trading activity.
JEL's shares have has surged 11 fold so far in April.
The company reported a full-year loss of S$378,000 ($303,400) in February.
The impact of any business restructuring on proftibility at JEL, currently on the Singapore Exchange's watch list, will take time, Kim Eng said.

Shares of Singapore's main subway operator SMRT Corp Ltd fell to a one-week low after it said it would spend S$900 million ($722 million) on renewal and preventive maintenance to address problems that have led to numerous train breakdowns in recent months.
SMRT shares were 2.8 percent lower at S$1.76, with over 1 million shares changing hands in early trading, half of its average daily volume over the last five sessions.
Deutsche Bank downgraded SMRT to hold from buy and cut its target price to S$1.75 from S$2.00, saying it has turned more cautious given the company's near-term operational and regulatory risks. SMRT also faced uncertainty surrounding the succession of its chief executive, it added.
The broker expects a significant proportion of SMRT's renewal costs to be incurred within the next five years, and raised its capital expenditure estimates for 2013-2017 by 50 percent.
Citigroup also said there may be downside risks to its fourth quarter net profit forecast for SMRT of S$39 million.
"The outlook beyond looks increasingly pessimistic given the significant expenditures ahead," it said.

JEL Corp