Stocks to watch: Ezion, Geo Energy, CDL, Noble, Nera Telecommunications

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

Ezion Holdings: Liftboat-focused Ezion Holdings returned to profitability in the second quarter mainly on fair value adjustments arising from its refinancing exercise, which more than offset a gross loss from its operations. Ezion posted a profit after tax of US$86.96 million for the quarter ended June 30, 2018, reversing from a loss after tax of US$2.57 million for the year-ago period. Second-quarter earnings per share was 2.84 US cents, compared to a loss per share of 0.3 US cent for the same quarter the previous year.

Geo Energy Resources: Geo Energy Resources' unit, PT Tanah Bumbu Resources (TBR), has completed its first shipment of 50,000 tonnes of coal worth more than US$2 million from its TBR mine to PT Sulawesi Mining Investment, part of Chinese state-owned Tsingshan Holding Group. The shipment will be part of the group's fulfilment of its domestic market obligation requirement set by the Indonesian government.

City Developments (CDL): Property and hotels group CDL, which posted stronger second-quarter and first-half bottomlines, has set a 10-year target to grow its annual recurring earnings before interest, tax, depreciation and amortisation (Ebitda) to S$900 million. In the first half of this year, recurring Ebitda was S$290 million. For FY2017, the figure was nearly S$600 million.

Noble Group: Noble Group on Friday announced that a special general meeting (SGM) to approve the company's proposed restructuring has been convened for Aug 27, at 2.30pm. To-date, the restructuring has received support from a number of the company's stakeholders in line with the board's objective to conclude a consensual restructuring process, said Noble.

Nera Telecommunications: Mainboard-listed Nera Telecommunications Ltd announced on Friday it has clinched S$11.8 million worth of new contracts for its network infrastructure (NI) business segment.