Stocks to watch: Bukit Sembawang, Cortina, Stamford Land, KSH, Isetan

THE following companies saw new developments that may affect trading of their securities on Monday (May 30):

Bukit Sembawang Estates: The property development and investment group on Friday (May 27) posted a 75 per cent fall in net profit to S$29.6 million for the second half ended Mar 31, 2022. Gross profit was lower by 79 per cent to S$30 million mainly due to lower profit recognised on development projects The counter ended trading at S$5.18 on Friday, up S$0.02 or 0.4 per cent, before the release of the results.

Cortina Holdings: The mainboard-listed luxury watch retailer on Friday posted a 72.3 per cent increase in net profit to S$43.3 million for its fiscal second half ended Mar 31. This came on the back of a recovery from the supply chain disruption that it faced, which led to better sales mix and stock allocation. The counter closed flat at S$4.30 on Friday, before the announcement.

Stamford Land : The property player’s net profit shot up 130.7 per cent for the fiscal second half from a year ago on the back of fair-value gains on its investment properties. Net profit for the 6 months ended Mar 31, 2022 stood at S$15.6 million, compared with a net profit of S$6.8 million over the same period a year ago. The counter closed at S$0.395 on Friday, up 1.3 per cent or S$0.005, before the results were released.

KSH Holdings: The mainboard-listed property firm posted second-half net profit of S$14.5 million on Friday, up from S$269,000 year on year. This was mainly due to the progress of completion of property development projects in Singapore and revaluation gain of hotel properties owned by associated companies, compared to the share of losses recorded in the previous financial year. The counter ended at S$0.355 on Friday, up 1.4 per cent or S$0.005, before the results.

Isetan (Singapore): The department store operator has appointed Shioji Hiramatsu as its new managing director and executive director, effective May 30. Outgoing chief executive Koji Oyama will take on an executive position in Isetan Mitsukoshi Holdings, which is the holding company for Mitsukoshi and Isetan department stores. The counter last traded at S$3.50 on May 26.

Econ Healthcare: The Catalist-listed nursing operator sank into the red in the fiscal second half from a year ago after chalking up a S$3.4 million investment loss from selling all of its stake in Crosstec Group Holdings in January. The counter closed up 2 per cent or S$0.005 at S$0.26 before the results were released on Friday.