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Stocks to watch: Croesus Retail Trust, Tiong Woon, Tritech
CROESUS Retail Trust: The first Asia-Pacific retail trust with seven properties in Japan said on Wednesday its distribution per unit (DPU) for the fourth quarter rose one per cent to 2.02 Singapore cents from a year ago, lifted by foreign-exchange gains and lower administrative expenses.
Income available for distribution for the three months ended June 30, 2015, rose 23.9 per cent to 876.7 million yen (S$10.4 million).
For the full year as at end-June 2015, DPU was up 2.8 per cent year on year to 8.08 Singapore cents.
The counter moved up three Singapore cents to close at S$0.83 on Tuesday.
Tiong Woon Corporation Holding: The engineering and marine transportation company reported a 46 per cent slump in its net profit for the fiscal year ended June 30, 2015, to S$12 million as revenue and margins took a hit.
Overall decline in business activities across all its business segments amid a challenging operating landscape, particularly for the oil & gas and petrochemicals industries, led to a 12 per cent decline in revenue to S$145.7 million.
Its shares slipped 6 per cent to close at 14.1 Singapore cents on Tuesday.
Tritech Group: The company has entered into an investment framework agreement with Chinese firm Zhong Xu Kang Yi for the latter to inject 120 million yuan (S$26.3 million) in cash as paid-up capital of Tritech's wholly owned unit, Tritech Vavie Health Care Technologies Co, in exchange for a 60 per cent stake in Tritech Vavie.
Upon completion of the deal, Tritech Vavie will cease to be an indirect wholly owned subsidiary of Tritech Group.