TIH Ltd withdraws proposed final dividend for previous FY

TIH Limited is withdrawing its proposed final dividend of S$0.01 per share for the financial year ended Dec 31, 2019.

In a bourse filing on Monday, the fund said that it was a result of the annual general meeting (AGM) being deferred: "With the deferment of the AGM, the board will no longer be proposing the proposed final dividend for approval by the shareholders at the AGM."

TIH added that a further announcement on a proposed interim dividend for the financial year ending Dec 31, 2020 to replace the proposed final dividend will be made "in due course".

The AGM was originally scheduled for April 22, but TIH now has until June 29 to hold it, thanks to an automatic 60-day extension from the authorities in light of Singapore's "circuit breaker" period aimed at breaking the chain of transmission of the Covid-19 virus. 

TIH had posted attributable profit of S$14.4 million for the full year ended Dec 31, 2019, reversing from the previous year's S$12 million loss. This was largely due to the fund recording a S$16.3 million net gain in investments, versus an S$8.7 million net loss in the year ago. 

Shares of TIH closed unchanged at S$0.21 on Monday, before the announcement.