Stocks to watch: Olam, GuocoLand, Civmec, mm2 Asia, Aims Apac Reit, Shangri-La Asia

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Aug 29):

Olam : The food and agri-business conglomerate announced on Thursday that it would shut down Jiva Ag, a digital farmer-services platform developed by the group’s venture arm, Nupo Ventures. This will affect 606 employees, including eight from Singapore. Of those remaining, 531 are from Indonesia, 66 from India and one is from Australia. Shares of Olam closed Thursday unchanged at S$1.02.

GuocoLand : The property developer on Thursday reported a 48 per cent decline in net profit to S$32.4 million for its half year ended Jun 30, from S$62.4 million in the same period the year before. This comes despite a 20.3 per cent rise in revenue to S$906.3 million for its H2 period, from S$753.3 million. The mainboard-listed company said this was due to losses in China offsetting growth in Singapore. Shares of GuocoLand closed Thursday flat at S$1.88, before the announcement.