Corporate digest

DBS Group Holdings

DBS Group Holdings on Monday announced that it will defer dividend payments to shareholders until after a new AGM date is fixed.

The payment of the proposed final one-tier tax exempt dividend of 33 Singapore cents per ordinary share for the financial year ended Dec 31, 2019, is subject to shareholders' approval at the AGM, which was originally scheduled for March 31.

Zhongmin Baihui

MAINBOARD-LISTED Zhongmin Baihui Retail Group, which owns and operates more than a dozen malls in China, on Monday posted a net loss of 5.8 million yuan (S$1.16 million) for its fourth quarter ended Dec 31, 2019, widening from a net loss of 6.6 million yuan the year before.

Second Chance Properties

MAINBOARD-LISTED Second Chance Properties on Monday posted a 23.1 per cent drop in net profit to S$1.4 million in its second quarter ended Feb 29, despite a slight increase in revenue.

The difference was due mainly to a fair-value loss on financial assets of S$0.7 million in the second quarter this year, compared to a fair-value gain of S$0.2 million last year.

Earnings per share slid to 0.19 Singapore cents, from 0.24 cents a year ago.

Low Keng Huat

MAINBOARD-LISTED building company Low Keng Huat (Singapore) net profit jumped 264 per cent to S$12.7 million for its fourth quarter ended Jan 31, on the back of higher revenue for the period. Higher profit in the hotel segment was mainly due to the write-back of provision for impairment no longer required as business commenced at Citadines Balestier, the company said in a bourse filing on Monday.

Earnings per share rose to 1.72 Singapore cents, from 0.47 cents a year ago.

FLT-FCOT

THE COURT hearing for the proposed merger of Frasers Logistics & Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) is expected to take place on Friday.