Trading dived on T&T Stock Exchange


At the close of trading on the Trinidad and Tobago Stock Exchange on Thursday, winning and losing stocks were equal in numbers following trading in 19 securities compared with 17 on Wednesday and ending with prices of seven rising, seven declining, including 3 that closed at 52 weeks’ low and five ending firm, resulting in the volume of stocks traded declining 96 percent valued 80 percent less than on Wednesday.

The market closed with trading of 44,488 shares for $1,014,698, drastically down from 1,194,994 stock units for $5,097,202 on Wednesday.
An average of 2,341 shares were exchanged at $53,405 well below 70,294 units at $299,835 on Wednesday. Trading month to date averages 34,430 shares at $169,771 versus an average of 22,005 shares at $200,032 in February.
The Composite Index fell 0.69 points to settle at 1,064.88, the All T&T Index dropped 1.33 points to close at 1,567.36, the SME Index remained at 96.65 and the Cross-Listed Index was unchanged at 73.79.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and two with lower offers.
At the close of a shortened week for trading, Agostini’s remained at $68 after an exchange of 9,998 stocks, Angostura Holdings rose 30 cents to $14.80 with investors trading 25 stock units, Ansa McAl closed at $57.99 after a transfer of 17 shares. Endeavour Holdings declined $1 in closing at $19 after an exchange of 75 stock units, First Citizens Group sank $1.12 to end at $41 with 3,231 shares being traded, GraceKennedy rose 1 cent to finish at $3.69 with investors dealing in 90 stock units. Guardian Holdings ended at $14.90 with 900 units crossing the exchange, JMMB Group dropped 1 cent to finish at a 52 weeks’ low of $1.07 with investors trading 47 stocks, Massy Holdings sank 1 cent in closing at $3.95 with an exchange of 2,960 shares. National Enterprises gained 8 cents to finish at $2.69 with 105 units clearing the market, National Flour Mills remained at $1.70 with traders dealing in 20 stocks, One Caribbean Media popped 13 cents to close at $2.85 after an exchange of 4,413 stock units. Prestige Holdings remained at $11.15 with a transfer of 50 shares, Republic Financial dipped 2 cents in closing at $113.50 with investors swapping 513 units, Scotiabank increased 6 cents and ended at $54.16 in an exchange of 86 stocks. Trinidad & Tobago NGL fell 5 cents to close at a 52 weeks’ low of $4.25 with 12,163 stock units changing hands, Trinidad Cement rallied 4 cents to finish at $2.49 in trading 3,900 shares, Unilever Caribbean advanced 34 cents to end at $11.19 with 569 stocks crossing the market and West Indian Tobacco slipped 3 cents to a 52 weeks’ low of $5.52 as investors exchanged 5,326 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Post Carnival trading on Trinidad exchange


Following the closure of the market on the previous two days due to Carnival celebrations, the Trinidad and Tobago Stock Exchange closed on Wednesday, with the volume of stocks traded rising 319 percent valued 168 percent more than on Friday resulting in 17 securities trading down from 21 on Friday and ending with prices of three stocks rising, seven declining and seven ended firm and resulted in a minor rise in the major market indices.

The market closed with trading of 1,194,994 shares for $5,097,202 up from 285,224 stocks at $1,898,467 on Friday.
An average of 70,294 shares were traded at $299,835 well above the 13,582 units at $90,403 on Friday and an average of 22,005 shares at $200,032 in February.
The Composite Index popped 0.86 points to close trading at 1,065.57, the All T&T Index rallied 1.86 points to end at 1,568.69, the SME Index remained unchanged at 96.65 and the Cross-Listed Index skidded 0.03 points to end trading at 73.79.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and six with lower offers.
At the close of trading, Agostini’s dropped 19 cents to end at $68 with investors trading 17 stocks, Ansa McAl remained at $57.99 with 63 units crossing the market, Calypso Macro Investment Fund advanced 40 cents and ended at $24 with a transfer of 497 shares. CIBC Caribbean Bank ended at $8 and closed after an exchange of 1,909 stock units, First Citizens Group rose 62 cents to close at $42.12 with investors dealing in 815 shares, GraceKennedy slipped 1 cent to finish at $3.68 after an exchange of 100,010 units. Massy Holdings climbed 7 cents and ended at $3.96 with 1,001,227 stocks clearing the market, National Enterprises fell 8 cents to $2.61 after a transfer of 23,218 units, NCB Financial ended at $2.39 in switching ownership of 53,317 shares. One Caribbean Media fell 13 cents to end at $2.72 as investors exchanged 15 units, Point Lisas slipped 1 cent to close at $3.20 after trading 5,110 stocks, Prestige Holdings remained at $11.15 after an exchange of 103 stock units. Republic Financial ended at $113.52 with 4,751 shares changing hands, Scotiabank ended at $54.10 with traders dealing in 33 stocks, Trinidad & Tobago NGL lost 21 cents to close at a 52 weeks’ low of $4.30 after 2,313 units passed through the market. Unilever Caribbean shed 34 cents to finish at $10.85 with 461 stock units crossing the exchange and West Indian Tobacco ended at $5.55 with investors trading 1,135 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

No TTSE trading on Monday & Tuesday


There is no trading on the Trinidad and Tobago Stock Exchange is Monday March 3 and on the following day as the country celebrates with Carnival activities on both days.

After a two days break, trading resumes on  Ash Wednesday which is not a public holiday in the country, with the All Trinidad & Tobago Index at 1566.83 and the Composite index at 1,064.71 following the close of the market last Friday.

Stocks popped higher on Trinidad Exchange


Rising stocks edged out losers on the Trinidad and Tobago Stock Exchange on Friday, following trading in 21 securities, up from just 15 on Thursday and ending with prices of six stocks rising, five declining and 10 ended firm as the volume of stocks traded surged 229 percent and the value 177 percent more than on Thursday resulting in modest movements in the market indices.

The market closed with trading of 285,224 shares for $1,898,467 well above the 86,769 stock units at $684,762 on Thursday.
An average of 13,582 shares were traded for $90,403, up from just 5,785 units at $45,651 on Thursday, with trading for the month to date ending with an average of 22,005 shares at $200,032, which is in line with 22,530 units at $206,864 on the previous day and well over the average for January of 17,669 shares at $153,409.
The Composite Index advanced 0.30 points to 1,064.71, the All T&T Index skidded 0.21 points to close trading at 1,566.83, the SME Index remained unchanged at 96.65 and the Cross-Listed Index popped 0.12 points to settle at 73.82.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and three with lower offers.
At the close of the last trading day of the month, Agostini’s climbed 19 cents to end at $68.19 with an exchange of 72 stocks, Angostura Holdings rose $1 to end at $14.50 in the trading of 80 units, Calypso Macro Investment Fund sank 40 cents to $23.60 with a transfer of 80 shares. CIBC Caribbean Bank ended trading at $8 with investors trading 2,954 stocks, CinemaOne slipped 72 cents to finish at $4.68 in an exchange of just 2 shares, First Citizens Group rallied 50 cents to close at $41.50 with investors dealing in 1,197 units. GraceKennedy ended at $3.69 and closed after 2,653 stocks were traded, Guardian Holdings ended at $14.90 after a transfer of 1,060 stock units, Guardian Media rallied 1 cent and ended at $1.12 with a mere 2 shares crossing the market. JMMB Group remained at $1.08 with traders dealing in 301 stocks, L.J. Williams B share popped 6 cents to close at 81 cents with 155 units changing hands, Massy Holdings remained at $3.89 after 201,761 stock units passed through the market. National Enterprises lost 3 cents in closing at $2.69 in trading 8,435 shares, National Flour Mills advanced 2 cents to $1.70 with 880 units clearing the market, One Caribbean Media ended at $2.85 with investors trading 29,752 stocks. Prestige Holdings closed at $11.15 in an exchange of 87 stocks, Republic Financial ended at $113.52 with investors trading 6,712 shares, Scotiabank skidded $1.55 to end at $54.10 after an exchange of 30 shares. Trinidad & Tobago NGL sank 14 cents in closing at a 52 weeks’ low of $4.51 with 28,672 stocks crossing the market, Unilever Caribbean ended at $11.19 as investors exchanged 4 units and West Indian Tobacco remained at $5.55 in switching ownership of 335 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trading dips on Trinidad Exchange


Stocks mostly fell on the Trinidad and Tobago Stock Exchange on Monday, with the volume of stocks traded declining 10 percent and the value 28 percent lower than on Friday resulting in the trading o f15 securities down from 22 on Friday and ending with prices of two rising, five declining and eight ended firm.

The market closed with trading of 162,652 shares at $2,206,402 down from 180,350 stocks at $3,075,555 on Friday. An average of 10,843 shares were traded at $147,093 up from 8,198 units at $139,798 on Friday, with trading for the month to date averaging 14,424 shares at $152,839 that is in line with 14,618 units at $153,151 on the previous day and an average for January of 17,669 shares at $153,409.
The Composite Index slipped 1.45 points to 1,060.27, the All T&T Index popped 1.53 points to wrap up trading at 1,560.37, the SME Index remained at 96.65 and the Cross-Listed Index dipped 0.65 points to finish at 73.50.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and four with lower offers.
At the close of trading, Ansa McAl remained at $58 in an exchange of a mere 10 shares, Calypso Macro Investment Fund dropped 15 cents to $23.60 with traders dealing in 1,207 stock units, CIBC Caribbean Bank sank 35 cents to close at $7.80 with 3,267 shares changing hands. First Citizens popped 35 cents to end at $42 with investors trading 27,364 stocks, Guardian Holdings skidded 1 cent to end at $14.89 after an exchange of 39,986 shares, JMMB Group ended at $1.06 with a transfer of 1,000 stocks. Massy Holdings remained at $3.87 with investors trading 59,997 units, National Enterprises ended at $2.62 in switching ownership of 13,872 stock units, National Flour Mills gained 1 cent in ending at $1.70 after a transfer of 5,784 shares. NCB Financial slipped 1 cent in closing at $2.38 after trading of 5,000 stocks, Prestige Holdings ended at $11.30 with 2,006 units clearing the market, Republic Financial declined 1 cent to finish at $113.50 with investors dealing in 126 stock units. Scotiabank remained at $54.06 and with an exchange of 1,328 shares, Trinidad & Tobago NGL ended at $4.65 as investors traded 1,560 stocks and Unilever Caribbean closed at $10.81 after 145 units passed through the market.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

8 stocks rise 2 fell on Trinidad Exchange


Stocks mostly gained on the Trinidad and Tobago Stock Exchange on Friday, resulting from trading in 22 securities up from only 16 on Thursday and ending with prices of eight rising, two declining and 12 ending firm but that was not enough to prevent slippage in the market indices. Trading resulted in the volume changing hands declining by 33 percent with a 23 percent greater value than on Thursday.

The market closed with trading of 180,350 shares valued at $3,075,555 compared with 269,573 stock units at $2,493,607 on Thursday. An average of 8,198 shares were exchanged at $139,798 down from 16,848 units at $155,850 on Thursday. Trading for the month to date ended with an average of 14,618 shares at $153,151 in line with 15,169 stock units at $154,300  previously and an average of 17,669 shares at $153,409 in January.
The Composite Index slipped 0.31 points to finish at 1,061.72, the All T&T Index sank 4.60 points to wrap up trading at 1,558.84, the SME Index remained unchanged at 96.65 and the Cross-Listed Index gained 0.60 points to settle at 74.15.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and three with lower offers.
At the close of a day with increased money moving through the market, Agostini’s advanced 1 cent to close at $68 with a transfer of 10,012 stocks, Angostura Holdings rose 50 cents to $14 with 100 units changing hands, Ansa Merchant Bank rallied by just 1 cent in closing at $40.06 as 240 shares passed through the market. Calypso Macro Investment Fund remained at $23.75 after trading in 22 stock units, CIBC Caribbean Bank popped 20 cents to finish at $8.15 with 280 shares crossing the market, First Citizens Group shed 23 cents and ended at $41.65 as investors exchanged 2,268 stocks. GraceKennedy ended at $3.68 in trading 2,410 stock units, Guardian Holdings closed at $14.90 after an exchange of just 32 units, Guardian Media gained 1 cent and ended at $1.11 with 972 shares crossing the market. JMMB Group remained at $1.06 after a transfer of 444 stock units, Massy Holdings closed the week at $3.87 with investors trading 127,787 stocks, National Enterprises climbed 1 cent to close at $2.62 with an exchange of 830 units. National Flour Mills ended at $1.69 with 810 stocks clearing the market, NCB Financial ended at $2.39 with investors swapping 700 shares, One Caribbean Media ended at $2.85 after an exchange of 800 stock units. Point Lisas gained 1 cent in closing at $3.21 with investors trading 100 units, Prestige Holdings popped 20 cents to close at $11.30 in switching ownership of 2,368 shares, Republic Financial ended at $113.51 after the trading of 11,081 units. Scotiabank closed Friday at $54.06 after an exchange of 7,918 stocks, Trinidad & Tobago NGL ended at $4.65 with investors trading 2,200 stocks, Unilever Caribbean sank 2 cents to finish at $10.81 in an exchange of 763 shares and West Indian Tobacco remained at $5.53 with traders dealing in 8,213 stocks.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Losing stocks outdo risers on TTSE


Two stocks ended at 52 weeks’ high and three at 52 weeks’ low at the close of the Trinidad and Tobago Stock Exchange on Wednesday, following trading of 23 securities up from just 16 on Tuesday and ending with prices of six rising, nine declining and eight ended firm and resulted in the volume of stocks traded rising 99 percent valued 212 percent more than on Tuesday

The market closed with trading of 358,721 shares at $7,640,936 up from 179,912 stock units at $2,445,820 on Tuesday. An average of 15,597 shares were traded at $332,215 well above the 11,245 units changing hands at $152,864 on Tuesday. Trading for the month to date averaged 15,057 shares at $154,192 compared to 15,000 units at $135,322 on the previous day and an average for January of 17,669 shares at $153,409.
The Composite Index declined 1.99 points to 1,063.92, the All T&T Index dropped 3.65 points to 1,566.89, the SME Index remained unchanged at 96.65 and the Cross-Listed Index dipped 0.03 points to end at 73.58.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and three with lower offers.
At the close of the market, Agostini’s lost 1 cent to finish at $67.99 after 2,508 stocks changed hands, Angostura Holdings sank 50 cents and ended at a 52 weeks’ low of $13.50 with 750 units crossing the exchange, Ansa McAl slipped 50 cents to $58 with investors dealing in 1,000 shares. Ansa Merchant Bank closed at $40.05 with 1,000 stocks changing hands, Calypso Macro Investment Fund ended at $23.75 with investors trading 5 shares, CIBC Caribbean lost 5 cents in closing at $7.95 with 4,782 stock units changing hands. Endeavour Holdings rallied $1 to close at a 52 weeks’ high of $20 with investors trading just 10 units, First Citizens Group rose 50 cents to finish at $42 after an exchange of 7,333 stock units, GraceKennedy ended at $3.69 after trading of 4,438 shares. Guardian Holdings remained at $14.90 with 503 stock units clearing the market, Guardian Media dipped 1 cent in closing at $1.10 in an exchange of 3,397 units, JMMB Group remained at $1.04 with 13,299 stocks crossing the market. Massy Holdings sank 4 cents in closing at $3.90 in switching ownership of 243,039 shares, National Enterprises popped 1 cent to end at $2.62 with traders dealing in 1,725 stock units, National Flour Mills rallied 4 cents to finish at $1.69 in an exchange of 4,000 stocks. One Caribbean Media ended at $2.85 after trading 2 units, Point Lisas fell 8 cents to close at $3.20 with an exchange of 415 shares, Prestige Holdings increased by 30 cents to end at $11.30 after 3,005 stocks passed through the market. Republic Financial climbed 19 cents to $113.50 with investors swapping 52,101 units, Scotiabank declined $1.74 to finish at a 52 weeks’ low of $54.06 with a transfer of 483 stock units, Trinidad & Tobago NGL ended at $4.65 as investors exchanged 674 shares. Trinidad Cement shed 10 cents in closing at a 52 weeks’ low of $2.20 after a transfer of 13,876 stock units and Unilever Caribbean remained at $11.02 after an exchange of 376 stocks.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trading climbs on Trinidad Exchange


Trading activity rose with declining stocks bettering those gaining on the Trinidad and Tobago Stock Exchange on Friday, with the volume of stocks traded declining 15 percent with a 7 percent lower value than on Thursday, with 21 securities trading compared with 15 on Thursday and ending with prices of three stocks rising, six declining and 12 ended firm.

The market closed with 144,349 shares trading for $1,217,028 down from 170,647 stocks at $1,302,338 on Thursday. An average of 6,874 shares were traded with a value of $57,954 compared with 11,376 units at $86,823 on Thursday, with trading month to date averaging 16,637 shares at $143,172 below the 17,895 units at $154,151 on the previous day and an average for January of 17,669 shares at $153,409.
The Composite Index gained 0.04 points to close trading at 1,069.58, the All T&T Index rallied 0.08 points to finish at 1,577.03, the SME Index remained unchanged at 96.65 and the Cross-Listed Index ended at 73.70.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and four with lower offers.
At the close on the last trading day of the week, Agostini’s dipped 30 cents to finish at $68.20 as investors exchanged 200 stock units, Angostura Holdings remained at $14.49 with 9 shares crossing the market, Ansa McAl ended at $59 with an exchange of 70 units. Calypso Macro Investment Fund ended at $23.75 after 277 stocks crossed the market, CIBC Caribbean Bank remained at $8 with investors trading 38 shares, First Citizens Group slipped 1 cent to end at $42 with 1,633 stock units changing hands. GraceKennedy remained at $3.73 with investors trading 3,000 units, Guardian Holdings lost 7 cents to close at $14.90 after 25,000 stock units were exchanged, Guardian Media ended at $1.11 after swapping 3,153 shares. JMMB Group ended at $1.04 with a transfer of 1,024 units, L.J. Williams B share fell 10 cents to finish at a 52 weeks’ low of 65 cents with 41,600 stocks clearing the market, Massy Holdings increased 5 cents and ended at $3.95 in switching ownership of 9,971 stock units. National Enterprises remained at $2.69 with traders dealing in 2,127 shares, National Flour Mills ended at $1.67 with 300 stocks crossing the exchange, NCB Financial had trading in 41,044 units at $2.39. One Caribbean Media popped 14 cents to close at $2.85 after a transfer of 864 stock units, Point Lisas ended at $3.28 with investors swapping 998 shares, Republic Financial remained at $113.85 in an exchange of 1,083 units. Scotiabank dropped 20 cents to at a 52 weeks’ low $55.80 with investors dealing in 7,394 stocks, Trinidad & Tobago NGL shed 2 cents to finish at a 52 weeks’ low of $4.66 in an exchange of 2,275 stock units and West Indian Tobacco gained 1 cent and ended at $5.53 after 2,289 shares passed through the market.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.with a

Big trading drop on Trinidad Stock Exchange


Trading dropped sharply on the Trinidad and Tobago Stock Exchange on Thursday, with a 46 percent drop in the volume of stocks traded, accompanied by a 88 percent dive in value from Wednesday, following trading in only 15 securities down from 20 on Wednesday and ending with prices of four stocks rising, four declining and seven ending firm.

The market closed with trading in 170,647 shares valued at $1,302,338 down from 318,786 stock units at $11,193,162 on Wednesday.
An average of 11,376 shares were traded at $86,823, well below the 15,939 stock units at $559,658 on Wednesday. Trading for the month to date ends with an average of 17,895 shares at $154,151, compared with 18,556 units at $160,979 on the previous day and compares well with an average of 17,669 shares for $153,409 in January.
The Composite Index increased 1.28 points to end at 1,069.54, the All T&T Index rallied 2.08 points to close trading at 1,576.95, the SME Index remained unchanged at 96.65 and the Cross-Listed Index gained 0.06 points to conclude trading at 73.70.
Investor’s Choice bid-offer indicator shows three stocks ending with bids higher than their last selling prices and three with lower offers.
At the market close on Thursday, CIBC Caribbean Bank ended at $8 with 163 stocks passing through the market, First Citizens Group fell 14 cents in closing at $42.01 with investors dealing in 2,473 stocks, GraceKennedy increased 3 cents to $3.73 with 1,000 shares clearing the market. Guardian Holdings remained at $14.97 with investors swapping 100 stock units, JMMB Group ended at $1.04 after an exchange of just one share, Massy Holdings remained at $3.90 in trading 139,397 units. National Flour Mills sank 3 cents to $1.67 after an exchange of 1,009 stocks, NCB Financial popped 3 cents to end at $2.39 with 872 stock units changing hands, One Caribbean Media skidded 9 cents in closing at $2.71 as investors exchanged 4,893 shares. Republic Financial gained 54 cents and ended at $113.85 with 4,391 stocks switching owners, Scotiabank ended at $56 after a transfer of 1,000 units, Trinidad & Tobago NGL slipped 1 cent to finish at a 52 weeks’ low of $4.68 with 9,475 stocks passing through the market. Trinidad Cement remained at $2.30 in an exchange of 1,148 shares, Unilever Caribbean ended at $11.19 with 45 stocks crossing the market and West Indian Tobacco rose 12 cents and ended at $5.52 in an exchange of 4,680 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Gains for Trinidad& Tobago Exchange


Trading on the Trinidad and Tobago Stock Exchange on Monday, resulted in a surge in the volume of stocks changing hands by 457 percent and valued 407 percent more than on Friday following 16 securities being active compared with 20 on Friday and ending with prices of four stocks rising, six declining and six ended firm with the main market indices rising at the close.

Trading ended with an exchange of 404,700 shares for $2,458,018 well above 72,614 stocks at $484,805 on Friday.
An average of 25,294 shares were traded at $153,626 compared with 3,631 units at $24,240 on Friday. Trading for the month to date ended with an average of 21,428 shares at $106,712 compared with 20,771 units at $98,722 on the previous trading day and January with an average of 17,669 shares at $153,409.
The Composite Index popped 5.11 points to settle at 1,068.46, the All T&T Index gained 3.08 points to cease trading at 1,574.83, the SME Index remained unchanged at 96.65 and the Cross-Listed Index advanced 1.02 points to conclude trading at 73.70.
Investor’s Choice bid-offer indicator shows five stocks ending with bids higher than their last selling prices and seven with lower offers.
At the close of market activity, Ansa Merchant Bank remained at $40 after a transfer of 80 stock units, Calypso Macro Investment Fund ended at $23.75 in swapping just 20 shares, CIBC Caribbean Bank rose 20 cents in closing at $8 with investors dealing in 720 units. First Citizens Group slipped 11 cents to $41.99 after 9,223 stocks changed hands, GraceKennedy climbed 6 cents to close at $3.80 as investors exchanged 12,062 units, Guardian Holdings fell 15 cents to end at $14.85 with 70 stocks crossing the market. Massy Holdings remained at $3.90 after an exchange of 364,699 shares, National Enterprises ended at $2.72 as 1,015 stock units passed through the market, National Flour Mills skidded 4 cents in closing at $1.65 with investors ended up trading 3,847 shares. One Caribbean Media lost 5 cents to close at $2.80 with 5,107 stocks clearing the market, Prestige Holdings rose 25 cents to end at $11 with investors swapping 10 units, Republic Financial dipped 1 cent to finish at $113.30 with 2,786 stock units crossing the market. Scotiabank remained at $56 in an exchange of 4,420 shares, Trinidad & Tobago NGL shed 5 cents to close at a 52 weeks’ low of $4.60 with traders dealing in 90 stock units, Unilever Caribbean rallied 39 cents to finish at $11.19 with 505 stocks crossing the exchange and West Indian Tobacco ended at $5.39 with a transfer of 46 units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.