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Stocks to watch: SIA, DBS, ST Engg, ThaiBev, Japfa, Silverlake, Frencken Group
THE following companies saw new developments that may affect trading of their shares on Friday:
Singapore Airlines (SIA): SIA posted a net loss of S$732.4 million in the fourth quarter, reversing from a net profit of S$202.6 million in the same period a year earlier. This included S$198 million in fuel hedging losses as fuel prices plunged towards the end of the quarter. SIA shares fell S$0.19 or 4.8 per cent to S$3.81 on Thursday before the results were announced.
DBS: South-east Asia's largest lender DBS on Thursday said it is committed to hiring more than 2,000 people in Singapore this year, notwithstanding the current economic downturn caused by the Covid-19 pandemic. DBS shares closed at S$18.96 on Thursday, down S$0.32 or 1.7 per cent before this announcement.
Singapore Technologies Engineering (ST Engineering): ST Engineering on Friday said it expects its revenue for the full year ending Dec 31, 2020 to be between 5 per cent and 15 per cent lower compared to fiscal 2019. The counter closed at S$3.31 on Thursday, down S$0.04 or 1.2 per cent.
Thai Beverage Public Co (ThaiBev): ThaiBev on Thursday saw second-quarter net profit decline 14.5 per cent on the year to 4.95 billion baht (S$220 million), amid what it called a "challenging business environment". Shares of ThaiBev closed down 2.5 Singapore cents or 3.6 per cent to 66.5 cents on Thursday before the announcement.
Japfa: The company, which produces and supplies staple foods, on Thursday recorded a net profit of US$35.5 million for the first quarter, five times that for the preceding year. The counter closed at S$0.57 on Thursday, down S$0.01 or 1.7 per cent before this announcement.
Silverlake Axis: The business software company saw its third-quarter earnings more than halved mainly due to lower other income and higher expenses. For the three months ended March 31, net profit fell 51 per cent to RM25.6 million (S$8.4 million) from RM52.6 million a year ago. Shares of Silverlake closed at 25 Singapore cents on Thursday, down 0.5 cent or 2 per cent.
Frencken Group: Mainboard-listed manufacturer Frencken Group on Thursday posted a 10.5 per cent rise in net profit to S$9.5 million for the first quarter despite lower revenue. This was largely due to gains from the US dollar's appreciation against the Singapore dollar. The counter closed down 2.5 Singapore cents or 3 per cent to 82 cents on Thursday before the announcement.
Centurion Corp: Centurion on Thursday posted higher first-quarter revenues on the year for its key student and worker accommodation businesses, but flagged that there have been disruptions due to Covid-19 and that operating costs are set to rise. Shares of Centurion closed flat at 36.5 Singapore cents on Thursday before the release of its first-quarter business update.
PropNex: The real estate agency on Thursday posted S$8.2 million in net earnings for the first quarter, more than triple that of the S$2.3 million in the preceding year, boosted by property transactions carried forward and a recovery in the private home market. Shares of PropNex closed down one Singapore cent or 2 per cent to 48.5 cents on Thursday before the announcement.
Jumbo: Restaurant operator Jumbo on Thursday recorded a 71.5 per cent year-on-year fall in half-year net profit to S$2.1 million amid the novel coronavirus pandemic, calling the past few months the "most challenging" since the group was established 33 years ago. Shares of Jumbo closed at 24.5 Singapore cents on Thursday, down one cent or 3.9 per cent before its results announcement.