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Stocks to watch: DBS, Raffles Medical, CityDev, SingPost
DBS Group reported on Monday that its net profit for the fourth quarter ended Dec 31, 2015, rose 20 per cent to S$1 billion, compared with S$838 million a year ago. Net profit for the full year 2015, including one-off items, rose 10 per cent to a record S$4.5 billion, from S$4.0 billion a year ago. Total income for FY2015 crossed S$10 billion for the first time.
DBS last traded at S$13.68 a share on Friday.
Vard Holdings has secured a new contract, valued at NOK 325 million, for the design and construction of one stern trawler for Havfisk ASA, Norway's largest trawler company.
Vard last traded at S$0.132 a share on Friday.
Millennium & Copthorne Hotels (M&C), the London-listed hotel arm of Singapore's City Developments, reported on Friday that its net profit for the three months ended Dec 31 plunged 88.6 per cent to £5 million (S$10.1 million), compared with £44 million a year earlier. Revenue inched up 1.3 per cent to £232 million. Earnings per share tumbled to 1.4 pence from 13.7 pence.
CityDev last traded at S$7.14 on Friday.
Singapore Post after it said last week that it was extending the long-stop date in the joint venture agreement from April 7 to May 31. Without identifying the Chinese e-commerce company Alibaba by name, SingPost announced in a filing on Friday night that "the company and the investor are still in the process of fulfilling the conditions precedent as set out in the joint venture agreement" and that the two parties have agreed to mutually extend the long-stop date.
Alibaba was to invest up to S$92 million for a 34 per cent stake in SingPost's subsidiary, Quantium Solutions International. It was also to acquire a 5 per cent stake in SingPost for S$187.1 million.
SingPost last traded at S$1.445 a share.