Stocks to watch: Singtel, Frasers Property, Bumitama Agri, The Hour Glass
THE following companies saw new developments that may affect trading of their securities on Wednesday (Nov 13):
Singtel : The telecommunications operator’s net profit for the first half ended September fell 42.4 per cent year on year to S$1.23 billion from S$2.14 billion, in the absence of a S$1.2 billion exceptional gain booked in the same period a year prior. On Wednesday, Singtel’s board declared an interim dividend of S$0.07 per share, up from S$0.052 in H2 of FY2024. Shares of Singtel closed 1.3 per cent or S$0.04 lower at S$3.16 on Tuesday.
Frasers Property : The group’s net profit for the second-half ended Sep 30 amounted to S$148.9 million, reversing from a loss of S$52.6 million from the previous corresponding period. On Wednesday, the group said its improved performance was due to contributions from residential projects in Singapore and China, as well as fair value gains from an Australia joint venture. The counter closed 1.1 per cent or S$0.01 higher at S$0.885 on Tuesday.
Bumitama Agri : The Indonesian palm oil producer’s net profit for the third quarter ended Sep 30 fell 31.6 per cent to 598 billion rupiah (S$51 million), from 874 billion rupiah the year prior. On Wednesday, the company noted that its operational output has gone down mainly due to negative effects from extreme weather conditions in past years. The counter closed flat at S$0.84 on Tuesday.
The Hour Glass : The luxury watch retailer’s earnings for the first half of fiscal year 2025 ended Sep 30 fell 20 per cent to S$61.4 million, from S$77 million in the previous corresponding period. This comes amid higher operating expenses, with more advertising and promotional activities, depreciation of right-of-use-assets and loss on disposal of property, plant and equipment driving expenses. Shares of The Hour Glass closed up 0.7 per cent or S$0.01 at S$1.54 on Tuesday, before the announcement.
Bukit Sembawang : The property developer’s earnings for the first half of FY2025 ended Sep 30 surged 149 per cent to S$62.9 million, from S$25.2 million in the previous corresponding period. Its gross profit for the period also rose 128 per cent on the year, due to higher recognised profits on development projects. Its shares closed up 0.3 per cent or S$0.01 to S$3.56 on Tuesday, before the release of its results.
Boustead Singapore : The infrastructure-related engineering and technology group on Tuesday posted a 34 per cent increase in net profit to S$36 million for its first half of FY2025 ended Sep 30. This comes amid higher gross profit and interest income, as well as a reversal of impairment loss. The counter closed at S$1.03 on Tuesday, down S$0.01 or 1 per cent.
Valuetronics : The integrated electronic manufacturing services provider on Wednesday reported HK$90.5 million (S$15.6 million) in net profit for its first half of the fiscal year, up 10.2 per cent year on year from HK$82.1million. Its board declared an interim dividend of HKS$0.04 per share on top of a special dividend of the same amount. The counter rose S$0.01 or 1.6 per cent to close at S$0.635 on Tuesday.
Yoma Strategic : The Myanmar-focused company’s net loss for the first-half ended September widened to US$11 million, from US$2.5 million in the previous corresponding period. This comes as revenue fell due to a depreciation of the Myanmar Kyat by more than 55 per cent, as well as higher finance costs. The counter closed 1.3 per cent or S$0.001 lower at S$0.07 on Tuesday.
