Stocks to watch: NetLink NBN Trust, Marco Polo Marine, Straco, LHN, Sats, mm2 Asia
Michelle Zhu
THE following companies saw new developments that may affect trading of their securities on Monday (Nov 27):
NetLink NBN Trust : Following the completion of its price review by the Infocomm Media Development Authority, the trustee-manager of NetLink NBN Trust on Monday lowered the price for its residential end-user connection service to S$13.50, from S$13.80 previously. Pricing for non-building address point connection service was lowered to S$70.50 from S$73.80. These revised prices will be effective Apr 1, 2024. Units of the trust ended Friday unchanged at S$0.82.
: The integrated marine logistics company on Monday reported a second-half net profit of S$18.3 million, up 74.1 per cent from H2 FY2022 on higher revenue and improved gross profit margin. Its board proposed a final dividend of S$0.001, as opposed to none in the prior year. Shares of Marco Polo Marine ended Friday S$0.001 or 2 per cent higher at S$0.052.
Straco Corporation : The tourism facilities operator reported a net profit of S$16.3 million for its third quarter ended Sep 30, 2023. This put the company firmly in the black compared to its narrow profit of S$175,000 in the same quarter last year. Shares of Straco closed 2.4 per cent or S$0.01 lower at S$0.40 on Friday, before its business update was released.
LHN Group : The Catalist-listed company posted a 55.9 per cent rise in net profit to S$21.3 million for its second half ended Sep 30, 2023. It declared a final dividend of S$0.01 and a special dividend of S$0.01 for the full year. Before the announcement on Friday, the counter had closed flat at S$0.34.
Sats , mm2 Asia : Both companies gave notice that they recorded three consecutive years of losses based on audited full-year consolidated accounts. However, neither company will be placed on the Singapore Exchange watch list as their average daily market capitalisation remained above S$40 million. Sats closed Friday S$0.03 or 1.1 per cent down at S$2.71 while mm2 Asia ended unchanged at S$0.034, prior to the announcements.
