Stocks to watch: SIA, Marco Polo, First Resources, NetLink, ThaiBev, CSE, Aspial, CNMC

[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.

First Resources : The Indonesian palm oil producer on Friday posted net profit of US$96.6 million for its first quarter ended Mar 31, up 53.1 per cent from US$63.1 million in the year-ago period. Sales grew 70.4 per cent to US$477.2 million, from US$280 million previously, amid stronger production output alongside increased purchases of fresh fruit bunches and palm oil products from third parties. The counter closed Thursday 3.5 per cent or S$0.13 higher at S$3.81.

NetLink NBN Trust : The fibre network operator on Thursday posted a 1.1 per cent rise in distribution per unit to S$0.0271 for the half year ended Mar 31, as more government project completions drove top-line growth. H2 revenue was up 2.1 per cent at S$206.3 million, due to higher revenue from the ancillary project, co-location and central office segments. NetLink ended Thursday flat at S$1.02. Thai Beverage (ThaiBev) : The beverage producer and distributor’s profit dipped 3.2 per cent to 14.2 billion baht (S$559.5 million) for its first half ended Mar 31, largely attributed to a non-recurring item related to an impairment loss from the discontinued operations of a joint venture. Excluding this one-off loss, the group’s attributable profit from normal business operations would have increased 8.5 per cent year on year to 16 billion baht, it said on Thursday. Shares of ThaiBev closed flat at S$0.42 on Thursday, before the results were announced. CSE Global : The systems integration specialist on Thursday posted a 29.1 per cent rise in revenue to S$265.2 million for the three months ended Mar 31, boosted by fresh demand from the data centre industry. CSE’s Q1 order intake rose 74.6 per cent to S$271.2 million. The company ended Thursday at S$1.77, up 4.7 per cent or S$0.08, before the update.

Aspial Lifestyle and Aspial Corporation : Consumer lifestyle group Aspial Lifestyle on Thursday announced a proposed equity fundraising to raise gross proceeds of about S$84.8 million. Controlling shareholders Aspial Corporation and non-executive chairman Koh Wee Seng will subscribe for their full provisional allotments of 43.7 million and 6.1 million preferential offering shares, respectively. Shares of Aspial Lifestyle closed flat at S$0.44 on Wednesday, before a Thursday trading halt. Shares of Aspial Corporation rose 0.6 per cent to close at S$0.165.

CNMC Goldmine : The Catalist-listed gold producer said on Thursday it is seeking a transfer of its listing to the mainboard of the Singapore Exchange (SGX) to raise its corporate image and gain access to a wider investor base. Shares of CNMC Goldmine dipped 4.9 per cent or S$0.07 to S$1.35 on Thursday, before the announcement.

Eagle Hospitality Reit : The real estate investment trust (Reit) received approval from SGX on Thursday to delist its stapled securities. The date and time for this will be announced at least two business days before the date of the proposed delisting.