Stocks to watch: CWT, iFast, Sembcorp Industries, SembMarine
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
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.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Singaporeans can now buy record amount of yen per Singdollar
