SING Tao Holdings
SING Tao Holdings is principally engaged in publishing in Hong Kong where it produces the Sing Tao Daily and The Hong Kong Standard.
Last year SBC Warburg put a sell on the stock, saying Sing Tao Daily was unlikely to recoup the 5 per cent drop in circulation it suffered when failing to enter the circulation price war last year.
This proved good advice. A year ago, Sing Tao traded at $4.625. Now it is worth $2.90, having trailed the HSI by 58.79 per cent. SBC Warburg has a buy on the stock.