In our previous post, we’ve seen which top 3 stocks had the highest returns in 2017.
What about the bottom 3? We left out stocks that have been suspended, halted and priced around the range of 0.001.
The stock with the lowest returns is $Noble Group(CGP.SI). It has plunged more than 88% in 2017.
Noble Group Limited is a supply chain manager that was incorporated in Bermuda in 1994.. The Company is engaged in buying physical commodities and managing them into consumable products that meet the requirements of its customers through various ways, including logistics and transportation services; processing and blending capabilities, and structured and trading financing solutions. Its segments include Energy; Gas & Power; Metals & Mining, and Corporate. Its energy coal business consists of portfolio of trading, marketing and supply chain management services. The Company’s energy solution is a power marketer focused on offering supply and risk management services to commercial and industrial customers. The Gas & Power business is a customer focused energy trading and merchant business, partnering with both producers and consumers to address their exposures along the entire supply chain. It offers aluminum, copper, zinc, lead, nickel, alumina, bauxite and other raw materials through the Metals & Mining segment.
Notable Events In 2017
On 24th February 2017, an independent research website called Iceberg Research wrote a detailed piece on the alleged misrepresentation of its accounting that serves to misled investors. On the same day the article was published, Noble’s stock price fell by more than 20%.
On 28th April, Noble announced a share consolidation of 1:10.
On 11th May, Noble issued a profit guidance announcement to give investors a heads up on a likely loss of US$130 Million in 1Q17. Share price tumbles another 30%+ on the same day.
In June, Fitch Ratings cut Noble’s credit ratings.
In July, Goldilocks Investment Company from Abu Dhabi increased its stake of the company.
In August, Iceberg Research publishes another article to highlight Noble’s troubles and the alleged “failure” of regulators.
In September, Noble extends deadline of Senior Secured Borrowing Base Revolving Credit Facility Extended To 15 January 2018, while also taking steps to sell parts of its business to cut debt.
In October, Noble disposes of Noble Americas Corp at a Loss Of US$525 Million.
In November, Noble records a loss of US$1.2 billion in Q3. Iceberg Research posts another article to openly criticise Noble’s creditors.
Noble’s co-CEO and executive director steps down.
In December, Noble obtained an extension on a waiver relating to the financial covenants in its committed unsecured revolving credit facility,
it also acquired an 18.82% stake in Symbol Mining through its wholly-owned subsidiary Noble Resources International (NRI).
The company also had multiple queries by SGX on its financial statements.
Noble has negative earnings and it’s P/B ratio is at 0.30. Noble did not have any company buybacks for 2017.
Till today, the shareholders of the company are still struggling with issues of its plans on debt-restructuring.
QT Vascular Ltd. is a Singapore-based company engaged in the designing, assembly and distribution of advanced therapeutic solutions for the minimally invasive treatment of complex vascular diseases.
Listed on 29th Apr 2014, the Company’s products include minimally invasive coronary and peripheral devices. The Company’s Coronary Products include Chocolate percutaneous transluminal angioplasty (PTA) Balloon Catheter and Glider percutaneous transluminal coronary angioplasty (PTCA) Balloon Catheter. The Company’s Peripheral Products include Chocolate PTA Balloon Catheter, GliderfleX PTA Balloon Catheter and GliderXtreme PTA Balloon Catheter. The Company has a distribution agreement with Weihai Weigao Medical Devices, Ltd. to distribute its peripheral products in the People’s Republic of China. It has a distribution agreement with Century Medical Inc for the distribution of its products in Japan. Its subsidiaries include TriReme Medical, LLC, Quattro Vascular Pte. Ltd. and TriReme Medical (Singapore) Pte. Ltd. $QT Vascular(5I0.SI)
Notable Events in 2017
In March, QT Vascular secured Up To S$20 Million Capital Commitment From GEM Global.
In July, QT Vascular signs MOU With HK-Listed China VAST & SJZ High-Tech Zone To Explore Opportunities In China.
It also issued a share placement to GEM Global Yield Fund LLC SCS.
In August, QT Vascular: 2Q2017 Revenue Increases 47.8% To US$3.5 Million.
However, the company has been loss making for the past few years.
For 2017, there was no company buyback for QT Vascular.
Currently, QT Vascular has negative earnings and a -3.8 P/B ratio.
The Company, formerly known as Contel Corporation Limited, was incorporated in Bermuda on 22 March 2005 and listed on the SGX Main Board. Following the disposal of its subsidiaries’ original equipment manufacturing business and digital media products business, the Company changed its name to W Corporation Limited on 17 September 2013 involved in the trading of solar grade silica, silicon metal and light-emitting diode components.
Following completion of the Reverse Takeover of YuuZoo Corporation and disposal of all its existing businesses, the Company has changed its name from “W Corporation Limited” to “YuuZoo Corporation Limited” with effect from 2 September 2014 to better reflect its transformation into an Enlarged Group principally involved in developing online and mobile payment solutions, as well as building mobile-optimised but device agnostic targeted social e-commerce networks for businesses and consumers, either rolling them out on their own or through Franchisees (“Yuu-Branded Networks”) or together with businesses or brands through Resellers (“Client Branded Networks”). Establishing a foothold in key growth markets in the developed as well as developing world, the Yuu-Branded Networks and Client Branded Networks (collectively, “YuuZoo Networks”) – which include world-class media companies, sport teams and celebrities in Asia, Europe and the United States of America – provide turnkey solutions to monetise consumers in the mobile and online social networking space.
Headquartered in Singapore, YuuZoo has access to over 42 million registered users in 164 countries. $Yuuzoo(AFC.SI)
Notable Events in 2017
The company also changed its auditor in January.
It has also pushed for the extension of AGM for FY 2016.
In May, Group CFO was terminated due to breach of employment contract.
A new appointment of new COO.
The CFO then resigned within the same year.
It also announced that Yuuzoo’s corporate head office is be split between Thailand and Singapore with the revenue generating functions being managed by YuuZoo Platform in Thailand, and the support functions by YuuZoo’s local subsidiary in Singapore.
2017 was a rocky year for Yuuzoo, as it was also plagued by the news with several articles citing that it exemplified a governance nightmare. The company then made a formal announcement to address the concerns and allegations published in the news. It also announced the change of accounting policy and appointed new internal auditors.
Between 2016 and 2017, the company had at least 2 changes of key management officers which included its CFO, and more than 10 changes in its management since listing on SGX. It also had several changes to its auditors throughout the years since its RTO in 2014. Interestingly, the company also did not formally disclose the lawsuit it was facing in the US.
CNBC also conducted a special video interview with the CEO of Yuuzoo.
The company has no share buyback in 2017. Yuuzoo currently has a trailing PE of 1.63 and P/B ratio of 0.33.
What do you feel about these 3 stocks? Will they recover in 2018 or will they continue to fight for the top spot – from the bottom?
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