What the Brokers Said

SING Tao Holdings is engaged principally in publishing, with its titles including the Sing Tao Daily and the Hong Kong Standard.

This time last year, SBC Warburg placed a buy on the stock, saying the company would benefit from an increase in advertising revenue.

This proved poor advice as shares have fallen due to concern about the company's outlook - even though earnings enjoyed a surge on speculation major shareholder Sally Aw Sian was selling out.

A year ago, Sing Tao shares traded at $3.65. Now they are at $1.70, having underperformed the Hang Seng Index by 33.04 per cent.