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Stocks to watch: LCD Global, OSIM, SIA Engineering, Eu Yan Sang
THE following stocks made announcements on Tuesday evening and Wednesday morning that could affect trading when the market opens on Wednesday:
The bid by AF Global, a joint-venture firm of Aspial Corporation and Fragrance Group, for hospitality and property development player LCD Global Investments has turned unconditional, the three firms said on Wednesday morning. Aspial and Fragrance have teamed up in a bid to wrest control of the firm from its biggest shareholder, JTrust Asia, and are offering S$0.33 for each LCD Global share.
Aspial last closed at S$0.39 on Monday, while Fragrance and LCD Global ended trading at S$0.225 and S$0.34 respectively on Tuesday.
OSIM on Tuesday evening reported weaker fourth quarter results but a strong set of numbers for the full year. For the fourth quarter, revenue dipped 0.5 per cent to S$177.7 million from S$178.6 million a year ago, while net profit was down 0.7 per cent to S$27.4 million from S$27.6 million a year ago.
For the full year, revenue rose 6.7 per cent to S$691.1 million from S$647.6 million, while net profit edged up 0.6 per cent to S$102.2 million from S$101.6 million.
OSIM shares closed at S$1.895, down a cent, before results were announced.
SIA Engineering Co (SIAEC) reported a net profit of S$46.3 million for the third quarter ended Dec 31, 2014, down 23.5 per cent from S$60.5 million for the corresponding quarter a year earlier, owing to a lower share of profits from associated and joint venture companies
Revenue fell from S$283.8 million to S$265.3 million, dragged down by lower revenue from airframe and component overhaul due to fewer heavy checks. However, this was offset by higher fleet management and line maintenance revenue.
Shares in SIAEC closed at S$4.32, down one cent, on Tuesday before the results announcement.
Eu Yan Sang on Tuesday reported a 38 per cent drop in second-quarter net profit to S$1.98 million, on the back of an 8 per cent fall in revenue to S$84.69 million. This was mostly due to the impact of the Occupy Central movement and a slowdown in spending by Chinese tourists in Hong Kong, though partially offset by a 25 per cent rise in its sales in Australia, due to its wider network of operations.
The counter closed unchanged at S$0.76 on Tuesday, before the results announcement.