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Stocks to watch: Singapore Airlines, Vallianz Holdings, EMS Energy, Pan-United Corp
THE following companies made announcements after the market close on Thursday that might affect their stocks' trading on Friday:
SINGAPORE Airlines' second-quarter profit plunged nearly 70 per cent year on year to S$64.9 million amid a challenging operating environment as revenue slid 5 per cent to S$3.65 billion.
OFFSHORE support vessel provider Vallianz Holdings said that it intends to redeem in full its S$60 million bonds maturing on Nov 22, 2016. The bond redemption will be funded by internal funds and advances from controlling shareholder Rawabi Holding Company of Saudi Arabia.
OFFSHORE marine services firm EMS Energy is planning to sell its stake in associated company Oilfield Services & Supplies Group for S$2.8 million to ease working capital needs.
CEMENT supplier Pan-United Corp chalked up a 21 per cent rise in net profit to S$7.25 million from a year ago despite revenue falling 16 per cent to S$175.04 million, thanks to lower costs and expenses.
CONSUMER electronic manufacturer Hi-P International's profit jumped 26 per cent year on year to S$30.7 million in the third quarter, as revenue slipped 2 per cent to S$387.3 million.
GLOBAL Premium Hotels' third-quarter net profit fell 8.5 per cent to S$3.3 million from the preceding year as lower hotel-room revenue and a slump in average occupancy rate took a toll, the group said on Thursday. Revenue sank 6.3 per cent to S$15.3 million.
HYFLUX's net profit more than tripled to S$21.5 million in the third quarter, as revenue more than doubled to S$296 million, due to contributions by the TuasOne waste-to-energy project and Qurayyat Independent Water Project in Oman.
CASINO operator Genting Singapore said on Thursday that its third-quarter net profit rocketed 187.2 per cent to S$106.9 million from the previous year's S$37.2 million, despite revenue slipping 8.6 per cent to S$581.5 million.