Corporate digest

Riverstone Holdings

MALAYSIAN glove maker Riverstone Holdings posted a net profit of RM331.1 million (S$108.8 million) for the fourth fiscal quarter ended December 2020, up from RM32.1 million in the year-ago period. This pushed the group's net profit for FY 2020 to a record-high of RM647.3 million, versus RM130.4 million in FY 2019. Riverstone has recommended a special dividend of four sen per share and a final dividend of 16 sen per share, bringing its total dividends for FY 2020 to 22 sen. The final dividend is subject to shareholders' approval at the forthcoming annual general meeting.

Yanlord Land Group

YANLORD Land Group's net profit edged down 3 per cent to 2.1 billion yuan (S$431.8 million) in the half-year ended December 2020, from 2.2 billion yuan in the corresponding period of the previous year. Lower other operating income and other gains, share of loss of joint ventures and a decrease in fair value gain on investment properties more than offset a 35 per cent rise in revenue during the same period.

Singapore Press Holdings

SINGAPORE Press Holdings (SPH) said its indirect stake in South Korean e-commerce company Coupang is estimated at 0.1 per cent. SPH, which publishes The Business Times, said in a statement on Saturday it had invested US$3.9 million in Coupang back in 2014 via a special purpose vehicle. Coupang has filed for an initial public offering on the New York Stock Exchange, and the expected valuation of the company is US$50 million.