Stocks to watch: OCBC, Jardine Matheson, Jardine C&C, Hongkong Land, Seatrium
THE following companies saw new developments that may affect trading of their securities on Friday (Aug 2):
OCBC : The bank’s net profit for the second quarter ended June rose 14 per cent to S$1.94 billion, from S$1.71 billion in the previous corresponding period. It said on Friday that this was underpinned by income growth and a decline in allowances. The earnings beat the S$1.8 billion consensus forecast in a Bloomberg survey of four analysts. Shares of OCBC ended Thursday down S$0.03 or 0.2 per cent at S$14.82.
Jardine Matheson : It posted US$550 million underlying net profit for the six months ended June, down 33 per cent from the year-ago period. The company kept its interim dividend unchanged from the year before at US$0.60 per share. Its shares ended Thursday at US$35.19, down 0.03 per cent or US$0.01.
Jardine Cycle & Carriage (C&C): The group on Thursday posted underlying profit of US$500 million for the first half of 2024, down 14 per cent from US$583 million in the year-ago period. Its businesses in Indonesia and Vietnam experienced softer consumer demand and lower commodity prices. Shares of Jardine C&C fell 0.3 per cent, or S$0.08 to S$25.88, before the announcement.
Hongkong Land : The property developer on Thursday posted underlying loss of US$7 million for the six months ended Jun 30, compared with its underlying net profit of US$422 million in the corresponding period last year. Shares of Hongkong Land closed 0.3 per cent, or US$0.01 higher at US$3.24, before the announcement.
Seatrium : The offshore and marine specialist marked its turnaround with a net profit of S$36 million for the first half ended Jun 30, reversing from a net loss of S$264.4 million in the corresponding year-ago period. Revenue for the same period jumped 39.1 per cent to S$4 billion from S$2.9 billion the year before, it said on Friday. Shares of Seatrium closed flat at S$1.68 on Thursday.
Trading halt: Property developer Hatten Land requested for a trading halt on Friday morning, pending an announcement. Shares of Hatten Land ended flat at S$0.011.
