Stocks to watch: Sembcorp, SGX, Gallant Venture, GHY Culture, Dasin Retail Trust
Srinidhi Ragavendran
THE following companies saw new developments that may affect trading of their securities on Tuesday (Feb 20):
Sembcorp Industries : The energy company posted a 15 per cent year-on-year rise in net profit to S$412 million for the second half of the year ended Dec 31, 2023. It was driven mainly by higher contributions from the gas and related services, as well as renewables segments, said the company on Tuesday. The board proposed a final dividend of S$0.08 per share, bringing total dividend for FY2023 to S$0.13 per share. Shares of Sembcorp closed on Monday down 0.2 per cent, or S$0.01, at S$5.75.
Singapore Exchange (SGX): It will issue S$300 million worth of notes under its S$1.5 billion multicurrency debt issuance programme. On Monday, the bourse operator announced that the notes will be issued on Feb 26, 2024, and will mature on Feb 26, 2027. It will have an interest rate of 3.45 per cent per annum, payable semi-annually in arrear. The notes will be issued in denominations of S$250,000. The counter closed flat at S$9.37, before the announcement.
Gallant Venture : The Indonesia-focused utilities provider expects to report a net loss for the full year ended Dec 31, 2023. This was mainly due to higher finance costs and lower profit contributions from associated companies, it said on Monday. Shares of Gallant Venture closed flat at S$0.132, before the announcement.
GHY Culture & Media : The concert organiser expects a net loss for the full year ended Dec 31, 2023. This comes after it incurred foreign exchange losses with the Singapore dollar appreciating against the yuan. Its credit loss allowance also contributed to the expected loss, said the company on Monday. Shares of GHY Culture ended unchanged at S$0.37, prior to the announcement. Dasin Retail Trust : Its trustee-manager on Tuesday said it received a winding-up application filed by Zhang Guiming, the nephew of a non-executive director on Dasin Retail Trust’s board. This comes after the unitholders of the trust approved the removal of its trustee-manager at an extraordinary general meeting (EGM) on Monday. Units of the China retail property trust closed S$0.004 or 8 per cent lower at S$0.046 on Monday, before the EGM results were announced.
