Stocks to watch: Haw Par, Ho Bee Land, Bumitama Agri, Straits Trading, Gallant Venture

THE following companies saw new developments that may affect trading of their securities on Tuesday (Feb 27):

Haw Par : The mainboard-listed group’s net profit rose 58.1 per cent for the six months ended Dec 31, 2023, to S$112.4 million from S$71.1 million for the same period a year earlier. Revenue for H2 FY2023 was up 39.7 per cent to S$120.9 million from S$86.6 million, announced the group on Monday. Shares of Haw Par closed at S$9.76, down 0.1 per cent or S$0.01, before the announcement.

Ho Bee Land : The real estate developer reported a net loss of S$104.1 million for the six months ended Dec 31, 2023, reversing from a net profit of S$16 million in the second half of FY2022. The group said on Monday that net loss for the whole financial year stood at S$259.8 million, also reversing from a net profit of S$165.9 million in FY2022. Shares of Ho Bee Land closed at S$1.71, up S$0.01 or 0.6 per cent, before the announcement.

Bumitama Agri : The Indonesian palm oil producer posted a net profit of 1.26 trillion rupiah (S$108.4 million) for the second half ended Dec 31, 2023, 94.7 per cent higher than the same period a year earlier. The sales volume of palm products increased during the period, resulting in a rise in revenue, the group said on Tuesday. Its counter closed 0.8 per cent or S$0.005 lower at S$0.635 on Monday.

The Straits Trading Company : The group on Tuesday reported a net loss of S$43.5 million for the second half ended December, 2023, narrowing from the prior year’s H2 net loss of S$121.8 million as its real estate segment posted a lower fair value loss from certain investment properties. Its hospitality segment also returned to profitability on the back of stronger operating performance, compared with a loss in the year-ago period. Shares of Straits Trading ended Monday S$0.01 or 0.6 per cent higher at S$1.61.

Gallant Venture : The industrial parks and resorts developer on Monday posted a net loss of S$16.1 million for the second half-year ended Dec 31, 2023, reversing from a net profit of S$3.2 million in the same period a year earlier. This was despite a 4 per cent increase in revenue for the half year to S$94.7 million from S$91.1 million. Shares of Gallant Venture closed flat at S$0.13, before the announcement.

Nanofilm Technologies : The mainboard-listed nanotechnology solutions provider on Monday posted a S$10.8 million net profit for the second half ended Dec 31, 2023, down 56.9 per cent from S$25 million in the year-earlier period. This was despite its H2 top line rising 42 per cent on the half to S$103.9 million, from S$73.2 million in H1. The group’s full-year profit stood at S$3.1 million, down 92.8 per cent from S$43.8 million in the previous financial year. Shares of Nanofilm closed at S$0.735, up 2.1 per cent or S$0.015, prior to the announcement. 

Keppel Pacific Oak US Reit (Kore): The real estate investment trust (Reit) posted a H2 FY2023 10.1 per cent year-on-year fall in distributable income to US$26.1 million, bringing the full-year figure down 13.8 per cent to US$52.2 million, from US$60.6 million. Kore attributed the fall to higher financing costs. The Reit manager on Monday said it will prioritise maximising the Reit’s net property income by the end of FY2025 through continued investment in its portfolio, and restarting distributions for FY2026 “at the highest appropriate level”. Units of Kore rose 2.3 per cent or US$0.003 to end at US$0.131, before the announcement.