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Stocks to watch: CWT, iFast, Sembcorp Industries, SembMarine

Thursday, February 18, 2016 - 09:25

32238780.6 (37476188) - 15_02_2016 - new Sembcorp Marine stock photos.jpg

CWT: LOGISTICS provider CWT is declaring an additional six Singapore cents per share dividend to return excess cash even as FY2015 profit declined by 3 per cent to S$108.9 million.

The company said lower naphtha trading volumes, a general drop in commodity prices and provisions for S$8.8 million of net losses from the August 2015 Tianjin blasts weighed on earnings, offset by strength in financial services, freight logistics and commodity marketing.

iFast: Online mutual fund retailer iFast Corporation raised its dividend to 0.75 Singapore cent per share as fourth-quarter net profit tripled to S$2.9 million in the absence of year-ago expenses incurred from the company's December 2014 initial public offering.

Sembcorp Industries: Sembcorp Industries' fourth-quarter net profit fell 74.7 per cent to S$60.8 million under the weight of its loss-making marine business. The industrial conglomerate is nevertheless proposing a final dividend of six Singapore cents per share.

sentifi.com

Market voices on:

SembMarine: Answering queries about the possibility of privatising marine unit Sembcorp Marine, Sembcorp chief executive Tang Kin Fei said in a results briefing that Sembcorp should reserve cash if SembMarine was able to operate well on its own.

SembMarine told Singapore Exchange overnight that it had no explanation for its share rally on Wednesday, other than speculation about a potential privatisation.

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