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Stocks to watch: Genting Singapore, Noble, Olam


Genting Singapore on Thursday posted a 62 per cent fall in net profit for the third quarter ended September to S$37.2 million from S$97.4 million a year ago.

During the quarter, the group recorded a favourable foreign exchange gain of S$113 million, which was offset by fair value loss from its portfolio investments.

The counter closed down two Singapore cents to 81.5 Singapore cents on Thursday.

Noble Group, battling criticism of its accounting methods, a share-price slump and lower raw-materials prices, on Thursday posted an 84 per cent slump in third quarter profit as markets remained difficult and its metals business and joint ventures reported wider losses.

Net income fell to US$24.7 million in the three months to Sept 30 from US$153.9 million a year earlier, while sales dropped 20 per cent to US$18.7 billion.

Shares of Noble were down 1.5 Singapore cents to S$0.5 on Thursday.

Olam International's net profit for the fiscal third quarter ended Sept 30, 2015, dropped 30 per cent to S$31.0 million, from S$44.3 million a year ago.

The results included a net exceptional loss of S$3.2 million, compared to a net exceptional gain of S$12.1 million a year ago.

The board had declared an interim dividend of 2.5 cents per share for the current financial period. The dividend was paid out on Aug 31, 2015.

The counter closed down 1.5 Singapore cents to S$1.985 on Thursday.