Stocks to watch: Tan Chong International 

THE following company saw new developments that may affect trading of its security on Tuesday (Jul 9):

Tan Chong International: The car distributor said it is expecting an 86.6 per cent fall in profit after tax to HK$25 million (S$4.3 million) in the first half of 2024, from HK$187 million in the previous corresponding period. This is mainly due to a “severe drop in sales” in its automotive division in the recorded period, the group said. Shares of Tan Chong were untraded on Monday. They closed flat at HK$1.29 on Friday.