Hot stock: Hiap Tong rises 7% to S$0.138, up 72.5% in May
CRANE rental service provider Hiap Tong was trading up 7 per cent at S$0.138 as at 1.11 pm on Friday (May 26), with over 17.1 million shares having changed hands.
It had risen to a high of S$0.142 at around 10 am, and then eased. The last time the counter closed near this level was in 2015.
No married deals were recorded, ShareInvestor data indicated.
The Catalist-listed company’s share pricehas soared in the past month, rising 72.5 per cent since May 2. It had closed at S$0.08 then.
Hiap Tong has a market capitalisation of S$39.7 million.
Hiap Tong released a profit guidance on the Singapore Exchange on Sunday, saying that it expects to record “significantly higher” net profit after tax for its FY2023 ended Mar 31 than in FY2022.
The company attributed the higher net profits to new construction projects under the lifting and haulage segment, as well as the full resumption of business operations in Singapore and Malaysia after the pandemic.
The group is due to release its financial statements on or before May 30, 2023.
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