Stocks to watch: Ho Bee Land, Q&M Dental, Daiwa House Logistics Trust, PSC, Tat Seng, Cordlife

THE following companies saw new developments that may affect trading of their securities on Monday (Aug 12):

Ho Bee Land : The property developer has agreed to sell a 49 per cent stake in its wholly-owned subsidiary which owns the group’s landmark biomedical development, Elementum, at a consideration of S$134 million. This is based on an agreed property value of S$555 million for Elementum, said Ho Bee Land on Monday. Its shares closed on Thursday up S$0.01 or 0.6 per cent at S$1.79.

Q&M Dental Group : The dental group on Monday reported a net profit of S$9.8 million for the first half ended June 2024, up 84 per cent from S$5.3 million in H1 FY2023 on higher revenue and net other gains. Its board has proposed a S$0.004 per share interim dividend, up from S$0.0016 in the prior year. Shares of Q&M ended Thursday flat at S$0.265.

Daiwa House Logistics Trust : The manager of the trust on Monday posted a 6.1 per cent year-on-year fall in distribution per unit to S$0.0245 for the first half of FY2024, from S$0.0261. Revenue decreased 10.7 per cent to S$27.6 million from S$30.9 million. Units of the trust closed 1.7 per cent or S$0.01 lower at S$0.58 on Thursday.

PSC Corp : The consumer goods manufacturer and distributor reported a net profit of S$11.2 million for the first six months of FY2024, an increase of 14 per cent from the previous year, the group said in a bourse filing on Thursday. Revenue for H1 was up 2.1 per cent at S$243.3 million on higher sales from its consumer business in Singapore and packaging business in China. The counter closed flat at S$0.325 before the results were announced.

Tat Seng Packaging : The corrugated paper packaging manufacturer posted a 20.3 per cent increase in net profit to S$10.1 million for its first half year ended Jun 30, from S$8.4 million a year earlier. This was mainly due to higher revenue from its China operations and increased finance income, the group indicated in financial statements released in a bourse filing late on Thursday. Shares of Tat Seng closed flat at S$0.725 before the results update.

Cordlife Group : The cord-blood bank has issued a profit warning saying it expects to report a net loss for the first half year versus a net profit in H1 FY2023. On Monday, Cordlife said it will recognise the financial impact of refunds and fee waivers related to high-risk tanks for the latest period. Shares of the group closed Thursday S$0.001 or 0.7 per cent up at S$0.147.

Aoxin Q&M Dental : The private dental service provider posted a net profit of 7.3 million yuan (S$1.3 million) for the first six months of FY2024, compared with a net loss of 1.2 million yuan for the same period last year. The Catalist-listed company’s revenue increased 6 per cent to 85.4 million yuan from 80.6 million yuan. The counter closed flat on Thursday at S$0.052.