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Stocks to watch: Sembcorp Industries, ST Engineering, OUE, Trek 2000, Sheng Siong
THE following companies saw new developments that may affect trading of their shares on Friday:
Sembcorp Industries: Sembcorp Ind on Friday revealed plans to list its India energy business and to reposition its utilities arm as it posted an 85 per cent drop in net profit. For the three months ended Dec 31, 2017, the group posted a net profit of S$22.8 million. Earnings per share (EPS) stood at 0.62 Singapore cent, down from 7.71 Singapore cents a year ago. Despite the lower net profit, Sembcorp recorded a 4.8 per cent increase in its revenue to S$2.1 billion for Q4 2017. A final dividend of two Singapore cents per ordinary share is proposed. Sembcorp Ind closed at S$3.27 on Thursday.
Singapore Technologies Engineering (ST Engineering): ST Engineering has announced a 6 per cent increase in profits for FY2017 on the back of increased growth across its sectors, while revenue remained relatively flat. Profit attributable to shareholders rose to S$511.9 million, compared to S$484.5 million for FY2016. Group revenue decreased by 1 per cent to S$6.62 billion from a year ago. The group is proposing a final dividend of 10 Singapore cents per share, to be paid on May 8, 2018. Shares in ST Engineering closed at S$3.38 apiece on Thursday.
OUE Limited: OUE's full-year net profit last year fell 31.5 per cent to S$98.9 million amid a slump in revenue and a surge in administrative and other operating expenses. Revenue for the period ended Dec 31, 2017 slipped 14.7 per cent to S$754.1 million. The board has proposed a final cash dividend of two Singapore cents per share, unchanged from a year ago. Shares in OUE closed at S$1.94 apiece on Thursday.
Trek 2000 International (Trek 2000): Despite the disposal of a 19 per cent stake in Racer Group, Singaporean technology company Trek 2000 reported a 1.6 per cent increase in net profit for FY2017 to US$6.2 million from the previous fiscal year. For the 12 months ended Dec 31, revenue dived 32 per cent to US$112.6 million from the preceding year. Trek 2000 shares last traded on Feb 21 at S$0.24.
Sheng Siong Group: The supermarket chain reported a 9.3 per cent rise in net profit for the fourth quarter, as government grants gave a boost to the group's bottom line. For the three months ended Dec 31, 2017, net profit was S$16.8 million. Earnings per share (EPS) stood at 1.12 Singapore cents, up from 1.02 cents a year ago. Sheng Siong is proposing a final dividend of 1.75 cents per share, bringing the total dividend to 3.30 cents per share or equivalent to a payout ratio of around 71 per cent for FY2017. The counter closed unchanged at S$0.925 apiece on Thursday.