Stocks to watch: Shangri-La Asia, Olam Group, Food Empire

Janice Lim

Published Fri, Mar 25, 2022 · 08:22 AM

THE following companies saw new developments that may affect trading of their securities on Friday (Mar 25):

S07: The hospitality company on Thursday stemmed some losses for its full year ended Dec 31, 2021, paring its FY2021 net loss to US$290.6 million, from US$460.2 million a year ago, in a bourse filing after market closed. Loss per share stood at 8.13 US cents, compared with the loss per share of 12.89 US cents a year ago. Shares of Shangri-La closed HK$0.12 or 1.9 per cent higher at HK$6.47 on Thursday.

VC2: The agri-food giant on Friday said it has agreed to sell a 35.4 per cent stake in Olam Agri to the Saudi Agricultural and Livestock Investment Company for US$1.2 billion, as part of reorganisation plans. Post sale, Olam will remain the majority shareholder of Olam Agri with a 64.6 per cent interest. Shares of Olam Group closed at S$1.77 on Thursday, down S$0.10 or 5.4 per cent.

F03: The food and beverage manufacturer on Thursday said that its auditors have flagged the uncertain financial, economic and social impact on the company arising from the Russia-Ukraine conflict. Ernst & Young noted that both countries are 2 of the mainboard-listed company's major markets which jointly accounted for about 45 per cent of its revenue in FY2021. Shares of Food Empire closed S$0.005 or 1.1 per cent higher at S$0.48 on Thursday.

5G9 : 5G9 0%: The water and environment company has agreed to place out up to 742.2 million new shares worth S$33.8 million to several new strategic investors. It also intends to jointly collaborate with these same strategic investors on a number of projects involving the group's fish farming technology, its existing membrane business, as well as its Vavie brand of products. Tritech last closed flat at S$0.018 on Mar 21 before the group called for a trading halt the following day. Its shares will resume trading on Friday.