Stocks to watch: Jardine Matheson, Hongkong Land, Dairy Farm, Mandarin Oriental, Yangzijiang

THE following companies saw new developments that may affect trading of their securities on Friday (Mar 4):

Jardine Matheson Holdings (JMH): J36 The mainboard-listed conglomerate on Thursday reported a net profit of US$1.9 billion for the full year ended Dec 31, 2021, reversing from a loss of US$394 million a year ago. The group recorded a narrower decrease in fair value of investment properties, and an increase in fair value of investment properties from its share of the results of associates and joint ventures. Shares of JMH closed at US$59.12 on Thursday, down 1.4 per cent or US$0.86, before the results.

Hongkong Land: H78 The mainboard-listed property investment company narrowed its net loss to US$349.2 million for the year ended Dec 31, 2021, from US$2.6 billion a year ago. In a filing on Thursday, its board proposed a final dividend of US$0.16 per share, bringing the total dividend for the year to US$0.22 per share, unchanged from a year ago. The counter ended at US$5.40, up 0.8 per cent or US$0.04, on Thursday before the announcement.

Dairy Farm International (DFI): D01 The mainboard-listed retail group posted on Thursday a decline in net profit for the full year ended Dec 31, 2021, on the back of lower revenue, with the group's operations continuing to be impacted by the pandemic. FY2021 net profit fell 62 per cent to US$102.9 million from US$271 million the year before. DFI shares closed at US$2.67 on Thursday, up 1.1 per cent or US$0.03 before the announcement.

Mandarin Oriental: M04 The mainboard-listed hotelier on Thursday narrowed its net loss for the full year ended Dec 31, 2021 to US$141.4 million from US$680.1 million the year before. Revenue was up 72.5 per cent to US$316 million following relaxation of travel restrictions in most parts of the world in the second half of 2021, but the group cautioned that travel restrictions in most of East Asia remained in place throughout the year. Prior to the announcement, Mandarin Oriental shares finished flat at US$2.16 on Thursday.

Yangzijiang Shipbuilding: BS6 The mainboard-listed shipbuilding and repairing company announced on Friday that it has entered into 2 separate bond agreements to issue S$25 million unsecured convertible bonds to investors, EDB Investments and Alexandrian Worldwide Incorporated. The bonds will have a maturity of 12 months and may be redeemed at a premium of 12 per cent per annum. Shares of Yangzijiang closed at S$1.50, up 0.7 per cent or S$0.01, on Thursday before the announcement, 

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Aspen Holdings: 1F3 Its glove-making unit has received a letter of demand for RM93.2 million (S$30.2 million), said the mainboard-listed group on Thursday. Prior to this, Aspen on Mar 2 disclosed that its subsidiary Aspen Vision City (AVC) was served a writ of summons with a statement of claim for RM7.3 million, which was filed by a group of purchasers of AVC's properties. Shares of Aspen ended Thursday up S$0.004 or 5.7 per cent at S$0.074, before the latest announcement was made.

Trading halt: Catalist-listed Starburst Holdings 40D : 40D 0%has requested a trading halt with immediate effect, pending an announcement. Its counter closed flat on Thursday at S$0.24.