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Stocks to watch: Yoma, Cache, Loyz Energy, Metech
STOCKS to look out for on Monday trading include companies that reported earnings results and those that made disclosures on proposed acquisitions.
Companies that reported their financial results included Yoma Strategic Holdings, Loyz Energy and Metech International.
Thanks mainly to currency translation gains, Yoma Strategic Holdings Ltd said on Monday that its net profit for its third quarter ended Dec 31, 2014 surged 49.8 per cent year on year to S$7.8 million. Its revenue fell 17.2 per cent to S$25 million due to the lower revenue recognition from Star City. The group has a diversified portfolio of businesses in Myanmar.
Singapore-based upstream energy group Loyz Energy marked a decline in net profit after tax and minority interests for its fiscal second quarter ended Dec 31, 2014 to US$200,000, from US$1.2 million in the year-ago period, due to a significant drop in other income. Revenue inched up 4.7 per cent to US$5.7 million mainly from its share of Thai crude production which jumped to 88,485 barrels from 238 barrels.
Metech International posted a deeper net loss after income tax of S$2.33 million for its fiscal second quarter ended Dec 31, 2014, after a net loss of S$600,000 in the year-ago period. Higher operating expenses outweighed a 36.1 per cent rise in revenue to S$11 million.
Cache Logistics Trust said on Monday that it has entered into separate sale and purchase agreements to acquire three industrial properties in Australia for A$70 million (S$74 million). Including stamp duty, acquisition fee payable to the trust manager and other professional fees and expenses, the total estimated costs work out to A$75.6 million.