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Stocks to watch: Ezra Holdings, Vard Holdings, Dairy Farm, Spackman
The following stocks may be in focus on Friday.
- EZRA Holdings on Friday said that the Chapter 11 filing on associated company Emas Chiyoda Subsea (ECS Group) does not deal with its charter-hire liabilities of hundreds of millions that relate to vessels chartered by the ECS Group. The embattled oil-and-gas firm added that it will still face going concern issues if creditors make claims against these liabilities that are guaranteed by Ezra. It has lifted a trading halt on its shares.
- SHIPBUILDER Vard Holdings on Thursday said that it has secured a 350 million Norwegian krone (S$58.5 million) contract for the construction of one pelagic trawler for Shetland-based Research Fishing Company.
- DIVERSIFIED retailer Dairy Farm International's net profit rose 10.5 per cent to US$469.0 million in 2016 as margins improved in its food and Ikea businesses, and contributions rose from associates and joint ventures.
- SPACKMAN Entertainment Group on Thursday said that it has entered into an agreement with UOB Kay Hian to be its placement agent, as the company sought to place out up to 38.1 million new shares at S$0.161 apiece.
- LIFTED by a US$1.1 billion gain from higher value of Hongkong Land's investment property portfolio, Jardine Matheson Holdings' (JMH) net profit for the full year climbed 39 per cent to US$2.5 billion.