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Stocks to watch: Genting Singapore, Hyflux, Fragrance, Aspial
GENTING Singapore: The casino operator fell into a net loss of S$7.8 million for the fourth quarter of 2015 from a year-ago S$89.2 million profit.
Its full-year profit fell 85 per cent to S$75.2 million after deducting S$117.9 million attributable to holders of Genting's perpetual capital securities. Genting attributed the weak quarter to bad gambling debt and weaker volumes of high-rollers from China.
Hyflux: The water-treatment specialist's 2015 profit fell 28 per cent to S$41.3 million, but after setting aside about S$49.7 million for holders of its perpetual securities, loss per share came to 1.05 Singapore cents.
The group said it was cautious on the outlook for the water and energy markets in 2016 amid falling oil prices, the China slowdown, and volatility and lower liquidity in global markets.
Fragrance Group: The property developer's fourth-quarter profit fell 89 per cent to S$8.7 million with fewer development projects contributing revenue. Related company Aspial Corp's net profit also fell 80 per cent to S$8.8 million in 2015 with lower sales in its jewellery and property segments.