Stocks to watch: Olam, Raffles Medical, Sats, UOB, CapitaLand India Trust, Venture
THE following companies saw new developments that may affect trading of their securities on Monday (Feb 24):
Olam : It has entered into a conditional sales and purchase agreement with Saudi Agricultural and Livestock Investment Company to dispose about 44.58 per cent of the issued and paid-up share capital of Olam Agri. This entails 1.5 billion ordinary shares of Olam Agri, with the consideration at about US$1.8 billion, said the group on Monday. Shares of Olam ended Friday 0.9 per cent or S$0.01 lower at S$1.13.
Raffles Medical : The medical service provider on Monday reported a 4.3 per cent rise in net profit to S$31.6 million for its second half ended Dec 31, from S$30.3 million in the previous corresponding period. This translates to earnings per share (EPS) of S$0.017 against an EPS of S$0.0163 previously. Shares of Raffles Medical closed Friday 0.6 per cent or S$0.005 lower at S$0.825, before the results were announced.
Sats : The catering and ground handling company on Friday reported a 123.5 per cent increase in net profit to S$70.4 million for the third quarter ended Dec 31, from S$31.5 million a year earlier. Revenue rose 12.5 per cent year on year to S$1.5 billion, from S$1.4 billion. Shares of Sats closed at S$3.30 on Friday, up 0.3 per cent or S$0.01, before the results were released.
UOB : The lender announced on Friday that its Sydney branch priced its A$2 billion (S$1.7 billion) floating rate senior unsecured notes. The notes will be due on Feb 28, 2028, and have a coupon of three-month bank bill swap rate plus 0.65 per cent per annum payable quarterly in arrear. Shares of UOB closed at S$38.38 on Friday, down 0.1 per cent or S$0.05, before the announcement.
CapitaLand India Trust (Clint) : The trustee-manager on Friday said it will purchase a 1.13 million-square-foot office project in Bengaluru from luxury residence developer Maia Group for 14.7 billion rupees (S$233.6 million). Net profit from the acquisition is forecast to be S$7.7 million on a stabilised basis, while distribution per unit is expected to rise to S$0.0696 from S$0.0684. Units of Clint closed flat at S$0.995 on Friday, before the announcement.
Venture Corporation : The technology company on Friday reported a 6.6 per cent year-on-year decline in net profit to S$121.4 million for the half year ended Dec 31, from S$130 million. This came as revenue over the same period fell 6.3 per cent on year to S$1.35 billion, from S$1.44 billion. EPS came in at S$0.419 for the half-year period from S$0.447 in the corresponding period a year earlier. Shares of Venture closed at S$12.94 on Friday, down 0.2 per cent or S$0.02, before the results were released.
Hong Leong Finance : The finance company on Friday reported a 10 per cent rise in net profit to S$51.5 million for the six months ended December 2024. This was driven by an expanded net interest margin at 1.6 per cent, on the growth of asset yields and a “moderated” funding cost. The company proposed a final dividend of S$0.10 per share, to be paid on May 22. Shares of Hong Leong Finance ended Friday at S$2.51, up 0.4 per cent or S$0.01, before the announcement.
