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Stocks to watch: ISOTeam, Vard, Boustead Singapore
THE following companies saw new developments that may affect trading of their shares on Thursday:
ISOTeam: ISOTeam has secured seven new contracts totalling S$52.58 million that it expects to complete between June 2018 and September 2019. The haul includes a S$46.54 million mega project to convert the existing retail, theatre lobby and theatre 2 at the Marina Bay Sands (MBS) integrated resort to a nightclub and restaurant cum bar with ancillary live entertainment across multiple floors at the resort by March 2019. The counter closed flat at S$0.36 on Wednesday.
Vard Holdings: Shipbuilder Vard Holdings has clinched a contract for the design and construction of a stern fishing trawler for Nergård Havfiske AS in Norway, for about 400 million Norwegian kroner (S$66.5 million). Delivery is scheduled for the first quarter of 2020, with the hull built at Vard's yard in Romania. The counter closed at S$0.255 apiece on Wednesday, up 2 per cent, or 0.5 Singapore cent.
Boustead Singapore: Mainboard-listed Boustead Singapore reported a net profit of S$7.5 million in the fourth quarter ended March 31, down 18 per cent year-on-year largely due to an absence of other gains that were present in Q4 2017. Revenue rose by 28 per cent over the same period to S$116.72 million, while earnings per share fell to 1.5 cents from 1.8 cents from last year. The board is proposing a final ordinary dividend of 2 cents per share in addition to the interim ordinary dividend of one cent per share. The counter closed at S$0.78 apiece on Wednesday.