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Stocks to watch: Sembcorp, SingPost, Moya Asia, Yongnam, Hock Liang Seng, Mapletree Logistics Trust
THE following companies saw new developments which may affect trading of their shares on Friday:
Sembcorp Industries: A challenging environment for its marine division put a drag on Sembcorp's earnings for the third fiscal quarter, with the conglomerate posting an 11.6 per cent drop in net profit to S$82.33 million, down from a restated S$93.14 million recorded in the year-ago period.
Singapore Post: SingPost saw its net profit for Q2 dip 12.9 per cent to S$25.1 million, due largely to an exceptional fair value loss on warrants from an associated company. Revenue for the quarter rose 2.2 per cent to S$368.7 million, on stronger contributions from international mail and property.
Moya Holdings Asia: Moya Asia reported on Thursday a 25 per cent jump in its net profit after tax to S$6.9 million for the three months ended Sep 30, 2018, from S$5.5 million the year before. This, as the company - which is engaged in the investment and development of total water solutions in Indonesia - recorded in large jump in "other gains" to S$8.3 million, from S$1.8 million. It said this was due to foreign-exchange gains and a write-back of a provision for the impairment of trade receivables, due to the recovery of the receivables.
Yongnam Holdings: Steel contractor and specialist civil engineering solutions provider Yongnam on Thursday announced that the group had secured four Singapore-based contracts worth S$53.4 million.
Hock Liang Seng: Civil engineering and construction firm Hock Lian Seng posted a net profit of S$10.4 million for the nine months ended Sept 30, up 55.7 per cent from the same period a year ago, on the back of higher revenue from the civil engineering segment.
Mapletree Logistics Trust: Mapletree Logistics Trust will be acquiring a warehouse in the Vietnam-Singapore Industrial Park I located in Binh Duong province, Vietnam for approximately S$43 million. Upon completion of the acquisition, the property will be leased to Unilever Vietnam for 10 years.