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Stocks to watch: Boustead Singapore, Olam, Wilmar, Golden Agri, Bumitama Agri

Olam International's headquarters at Marina One, Singapore_preview (1).jpg
The commodity trader's second-quarter profit fell 36.4 per cent to S$94 million for the second quarter. Excluding exceptional items, core profit fell 40.6 per cent to S$91.4 million.

THE following companies saw new developments which may affect trading of their shares on Tuesday:

Boustead Singapore: The infrastructure and engineering group more than quadrupled its first-quarter net profit to S$12.2 million for the three months ended June 30 on the back of better operating performance and sizeable one-time gains. Adjusting for one-time gains and losses net of non-controlling interests, the group said that net profit would have grown 72 per cent year-on-year to about S$3.3 million.

Olam International: The commodity trader's second-quarter profit fell 36.4 per cent to S$94 million. Excluding exceptional items, core profit fell 40.6 per cent to S$91.4 million. An interim dividend of 3.5 Singapore cents per share was declared, unchanged from the first half last year.

Wilmar International: The agribusiness group's second-quarter profit rose to US$316.4 million, more than five times its year-ago profit of US$59 million on the back of stronger performance in its oilseeds and grains, and in its tropical oils segments. Wilmar has declared an interim dividend of 3.5 Singapore cents per share.

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Golden Agri-Resources: The Indonesia-based palm oil producer fell into a net loss of US$39.02 million for the second quarter from a year-ago profit of US$21.88 million amid softer prices and foreign exchange losses. Fresh fruit bunch production declined to 4.60 million tonnes for the first half from 4.70 million tonnes a year ago, while palm product output shrank to 1.32 million tonnes from 1.34 million tonnes. Golden Agri said "tree stress" – explained as a biological slowdown after the high production in 2017 – accounted for the lower outputs.

Bumitama Agri: Net profit for the Indonesian palm oil producer rose 36.1 per cent to 388.06 billion Indonesian rupiah (S$36.6 million) on higher sales volume amid a recovery in palm production. Bumitama is declaring an interim dividend of 0.75 Singapore cent per share, in line with its year-ago payout.

CityNeon Holdings: The events and exhibitions group's net profit doubled to S$9 million for the second quarter ended June 30, from S$4.2 million a year ago, partly due to higher sales from its Intellectual Properties Experiences business segment.