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Stocks to watch: Bukit Sembawang, China Everbright Water, UnUsUaL, Vividthree, Ossia, Vallianz, USP Group
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Bukit Sembawang Estates: Property developer Bukit Sembawang saw a loss of S$11.6 million for the fourth quarter ended March 31, compared with a restated profit of S$22 million in the year-ago period, it said in a results announcement after market close on Monday. This was despite revenue rising 72 per cent to S$56.5 million. Gross profit was down 19 per cent, which the company said was mainly due to the reversal of costs no longer required in the previous year's fourth quarter. The latest fourth quarter also saw S$22 million in operating expenses, compared with S$1.5 million last year. Loss per share for the quarter was 4.46 Singapore cents, compared with a restated earnings per share of 8.48 Singapore cents for the year-ago period. The company has proposed a final dividend of four Singapore cents per ordinary share, unchanged from the previous year, and a special dividend of 18 cents per ordinary share, up from 14 cents the previous year. The company's shares closed up one Singapore cent, or 0.18 per cent at S$5.66 on Monday, before the results announcement.
China Everbright Water: Mainboard-listed China Everbright Water has secured a public-private partnership for a 1.25 billion yuan (S$249.7 million) project to protect drinking water sources in Zhejiang, China. The project will involve financing, constructing and operating a wetland ecological project, a pumping station, and a 30 km pipeline network connected to two water plants, the company said on Monday morning. Its shares closed down 0.5 Singapore cent to 37.5 cents on Monday.
UnUsUaL: Media company UnUsUaL on Monday posted a 31.7 per cent jump in year-on-year net profit to S$13.19 million for the financial year ended March 31. Revenue rose 22.6 per cent to S$56.93 million in FY2019 on the back of higher revenue contributions from its promotion revenue and other revenue segments. Earnings per share clocked in at 1.28 Singapore cents versus 0.98 cent a year ago. Commenting on its outlook, the company warned that the local and regional live entertainment industries remained competitive and challenging. The counter closed at 31.5 Singapore cents on Monday, down half a cent before its financial results were released.
Vividthree Holdings: Catalist-listed Vividthree posted net profit of S$1.5 million for the fourth quarter ended March 31, more than 20 times the S$60,000 figure for the year-ago period, in its results release on Monday evening. This was on the back of revenue more than doubling to S$4 million from S$1.8 million in Q4 2018. The latest figures took full-year net profit to S$3.3 million, up 20 per cent from S$2.7 million the year before, in Vividthree's first full-year results since listing on Catalist in September 2018. Earnings per share was 0.46 Singapore cent. No dividend was declared as the group intends to conserve cash for expansion and other business opportunities, it said. Vividthree shares closed up 0.5 Singapore cent or 3.07 per cent at 16.8 cents on Monday, before the results release.
Ossia International: Ossia reported net profit attributable to owners of S$3.92 million for the year ended March 31, down 7.8 per cent from the previous year's S$4.16 million, in a results release on Monday night. This came as revenue fell 18.4 per cent to S$23.95 million from the previous year's restated figure of S$29.37 million. Ossia said the decline in sales was due mainly to the disposal of business and end of operations in Malaysia. Earnings per share for the year was 1.55 Singapore cents, compared with 1.64 cents the year before. Ossia has proposed a final dividend of 0.17 Singapore cent per share. The counter closed unchanged at 9.1 Singapore cents on Monday. Ossia has been on the Singapore Exchange watchlist since 2017. It is a regional distributor and retailer of luxury fashion apparel, bags, footwear, sporting goods and golf.
Vallianz Holdings, USP Group: Vallianz Holdings is likely to post a "significant" net loss for the year ended March 31, 2019, as a result of expected non-cash impairment expenses for certain assets, the offshore support vessel provider announced in a bourse filing on Monday night. Vallianz will release its unaudited full-year financial results on May 30. Its shares closed flat at 14.9 US cents on Monday.
Separately, mainboard-listed USP Group expects to record a net loss for FY2019 ended March 31, based on a preliminary review of the unaudited financial results. USP will announce its FY2019 results by May 30. USP shares last traded at 7.5 Singapore cents on May 16.