Stocks to watch: Venture Corp, NetLink NBN Trust, Geo Energy, Food Innovators
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Nov 10):
Venture Corporation : The technology solutions provider reported on Friday a 21.9 per cent rise in net profit for its third quarter to S$67.8 million, amid higher revenue contributions from its key technology businesses. Revenue for the period rose 26 per cent year on year to S$790.4 million. The gains were boosted by a ramp up in production, as well as market share gains in its test and measurement instrumentation, networking and communications, and semiconductor-related equipment businesses. Shares of Venture Corp ended 3 per cent or S$0.44 lower at S$14.29 on Friday.
NetLink NBN Trust : The fibre network operator has appointed former ST Engineering and Singtel executive Low Ka Hoe to succeed Tong Yew Heng as CEO. On Friday, the trustee-manager of NetLink said that Low will be CEO-designate with effect from Nov 10. He will succeed Tong on Apr 1, 2027. On that date, Low will also be appointed to the board of directors of the manager as an executive director. Units of NetLink closed flat at S$0.94 on Friday.
Geo Energy : The coal mining company on Tuesday signed two non-binding agreements involving three major Chinese state-owned enterprise groups to explore the expansion of its Triaryani coal mine in South Sumatra, Indonesia. The agreements cover potential mining services, specialised equipment and technology, and a potential coal offtake arrangement of up to two million tonnes in 2027. Shares of Geo Energy ended 4.9 per cent or S$0.025 lower at S$0.485 on Friday.
Food Innovators : The Catalist-listed company reported on Monday that an employee might have misappropriated S$35,000 from a wholly owned subsidiary and S$324,000 from two clients. The group said it was alerted about a potential embezzlement of funds belonging to its unit F Innovators Singapore and two unidentified companies that this subsidiary provides services to. Food Innovators did not provide the name or position of the employee. Its shares closed unchanged at S$0.175 on Friday.
