Stocks to watch: SIA, Marco Polo, First Resources, NetLink, ThaiBev, CSE, Aspial, CNMC
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[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (May 15):
Singapore Airlines (SIA) : The flag carrier announced on Thursday that its earnings for the second half ended March more than halved year on year to S$945.5 million from S$2 billion. It attributed the 53.6 per cent reduction in net profit largely to the absence of a one-off, non-cash accounting gain of S$1.1 billion. This was from the disposal of the Vistara airline. SIA shares finished 0.2 per cent or S$0.01 lower at S$6.27 on Thursday, before the results were announced.
Marco Polo Marine: The marine logistics company on Friday posted a 9 per cent rise in net profit to S$11.6 million for its first half ended Mar 31, up from S$10.6 million in the year-ago period. Separately, it announced a proposed reverse takeover of Catalist-listed Fuji Offset Plates Manufacturing. The aluminium offset plates manufacturer is proposing to acquire Marco Polo Shipyard and MP Marine, which wholly own and operate the group’s shipyard business, in a deal valued at S$139 million. Marco Polo ended Thursday 2.3 per cent or S$0.004 higher at S$0.18.
