Stocks to watch: Olam, Yanlord, Elite Commercial Reit, Halcyon Agri, Bumitama

THE following companies saw new developments that may affect trading of their securities on Monday (Feb 28):

Olam International: O32 The agri-food giant on Monday posted a net profit of S$264.9 million for its second half ended Dec 31, 2021, from a loss of S$87 million a year ago, on higher operating profit and lower exceptional losses. Revenue for H2 rose 29 per cent to S$24.2 billion, from S$18.7 billion a year ago, it said. Shares of Olam closed up S$0.01 or 0.6 per cent at S$1.71 on Friday, before the announcement.

Yanlord Land Group: Z25 The mainboard-listed property developer on Sunday night reported a net profit of 1.83 billion yuan (S$393.5 million) for the 6 months ended Dec 31, 2021, a decline of 13 per cent from 2.1 billion yuan in H2 FY2020. This was despite revenue for the period increasing 46 per cent on year to 21.64 billion yuan, from 14.8 billion yuan. Shares of Yanlord closed at S$1.17 on Friday, up S$0.01 or 0.9 per cent, before the announcement.

Elite Commercial Reit: MXNU : MXNU 0% The real estate investment trust (Reit) has committed to invest £12.5 million (S$22.7 million) over 3 years in asset enhancement works to improve the sustainability and energy efficiency credentials of its properties currently occupied by the Department for Work and Pensions (DWP). The Reit and DWP also agreed to re-gear a significant number of leases of DWP-occupied properties by removing lease break options, its manager announced on Monday. Units of the Reit closed Friday S$0.005 or 0.8 per cent lower at S$0.655.

Halcyon Agri: 5VJ The mainboard-listed natural rubber supplier has posted a net profit of US$10.8 million for the second half of the year ended Dec 31, 2021, reversing from a net loss of US$13.4 million in the year-ago period. Shares of Halcyon Agri closed 5.8 per cent or S$0.015 higher at S$0.275 on Friday.

Bumitama Agri: P8Z The Indonesian palm oil producer saw its H2 FY2021 net profit surge 80.6 per cent to 1.24 trillion rupiah (S$117.5 million) as sales prices of its palm products strengthened over the period, it said on Monday. This came even as the group reported its lowest Q4 output since its listing due to weather-related constraints. Bumitama Agri ended Friday S$0.035 or 5 per cent higher at S$0.735, before the financial results were released.

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Singapore Press Holdings: T39 The mainboard-listed company will hold a scheme meeting on Mar 22, 2022, to vote on the takeover offer from consortium Cuscaden Peak, it said on Monday. SPH also noted that the Singapore Exchange has no objections to the company’s application to delist from the bourse upon the Cuscaden scheme becoming effective and binding. Shares of SPH closed flat at S$2.32 on Friday.

Yangzjiang Shipbuilding: BS6 The mainboard-listed shipbuilding and repairing company reported on Sunday a net profit of 2.06 billion yuan for the 6 months ended Dec 31, 2021, up 54 per cent from 1.34 billion yuan in the year-ago period. Earnings per share for the half year stood at 0.5289 yuan per share, up from 0.3435 yuan a year earlier. Shares of the company rose S$0.03 or 2.2 per cent to close at S$1.40 on Friday, before the results were released.

Dasin Retail Trust: CEDU The retail property trust on Sunday posted a 10.9 per cent increase in distribution per unit (DPU) to S$0.0224 for the 6 months ended December 2021, up from S$0.0202 a year earlier. For the full year ended Dec 31, 2021, DPU rose 32.5 per cent to S$0.0522. Units of Dasin Retail Trust closed down S$0.005 or 1.6 per cent at S$0.315 on Friday, before the announcement.

Trading halt: Catalist-listed Alpha DX VVL : VVL 0%has called for a trading halt on Monday morning, pending the release of an announcement. Shares of Alpha DX last closed flat at S$0.153 on Friday.