Stocks to watch: Dairy Farm, CDL, JMH, JSH, Sembcorp, Aztech Global

THE following companies saw new developments that may affect trading of their securities on Friday:

Dairy Farm International: On Thursday it reported a full-year net profit of US$271 million, a fall of 16 per cent from a year ago, even as total sales increased 2 per cent to US$28.2 billion. In its results filing, the group noted that strong growth in operating profit for its grocery retail segment and Ikea was offset by lower profits for the health and beauty as well as convenience businesses. Shares of Dairy Farm closed flat at US$4.68 on Thursday, before the announcement.

City Developments Limited (CDL): The group issued a statement on Thursday night saying Sincere Property "misrepresented" the circumstances of its investment in the mainland Chinese developer, as well as the relationship between the two parties. This comes in response to claims by Sincere Property that CDL held up key decisions since taking control of the company. Prior to CDL's announcement, its shares closed on Thursday up S$0.02 or 0.3 per cent at S$7.53.

Jardine Matheson Holdings (JMH), Jardine Strategic Holdings (JSH): Both reported full-year net losses for the 12 months ended Dec 31, 2020. JMH reversed to a net loss of US$394 million compared to a net profit of US$2.84 billion a year ago. Separately, JSH announced a full-year net loss of US$863 million, reversing from a net profit of US$2.18 billion a year ago. Prior to both announcements on Thursday, shares of JMH closed up US$0.81 or 1.3 per cent at US$65.57, while shares of JSH closed US$0.05 or 0.2 per cent higher at US$32.86.

Sembcorp Industries: The energy and utilities group on Friday said its wholly-owned subsidiary was awarded a 60 MWp solar energy project by the Housing & Development Board and the Singapore Economic Development Board. This brings its portfolio in Singapore to 362.3 MWp of solar power capacity in operation and under development, it said. Sembcorp Industries ended Thursday down S$0.01 or 0.6 per cent at S$1.81.

Aztech Global: The technology unit of Aztech on Thursday said it received applications from retail investors for 18.4 times the number of shares available in the public portion of its initial public offering. The company, which is in the business of the Internet of Things and data communication, will commence trading on the mainboard of the Singapore Exchange at 9am today.

MTQ Corporation Limited: The engineering solutions provider on Thursday said it is likely to recognise a goodwill impairment charge and certain provisions primarily with respect to the Premier Group cash-generating unit. It expects to be profitable for FY2021 excluding these non-cash charges, and to remain in a net cash position as at March 31. The counter closed unchanged at 21.5 Singapore cents, before the profit guidance was issued.

Koufu Group Limited: The food court operator is set to receive S$11.8 million from a proposed sale of properties at 18 and 20 Woodlands Terrace. The purchaser exercised the option to purchase on March 11, although the sale remains subject to and conditional upon the written in-principal approval from Jurong Town Corporation. Prior to the announcement, shares of Koufu ended Thursday flat at S$0.66.


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