The Business Times

Stocks to watch: ST Engineering, Valuetronics, PropNex, Hatten Land, Genting Singapore

Michelle Zhu
Published Wed, Nov 10, 2021 · 08:37 AM

THE following companies saw new developments that may affect trading of their securities on Wednesday (Nov 10):

ST Engineering: S63 The multi-disciplinary engineering company reported over S$1.8 billion in new contracts for Q3 FY2021, bringing the order book to over S$18 billion in a bourse filing on Wednesday (Nov 10) before the market opened. The commercial aerospace business continues to see recovery, with the third-quarter revenue growing 27 per cent to S$607 million from S$478 million a year prior. Shares of ST Engineering closed flat on Tuesday (Nov 9) at S$3.81.

Valuetronics Holdings: BN2 The mainboard-listed electronic manufacturing service provider on Wednesday (Nov 10) posted a 38.1 per cent drop in its net profit to HK$56.6 million (S$9.8 million) for the 6 months ended Sep 30, amid severe shortages of certain key electronic components which have affected the group's ability to meet orders. The counter closed 0.8 per cent or S$0.005 lower to S$0.59 on Nov 9.

PropNex: OYY The real estate agency on Wednesday (Nov 10) morning reported a 113.2 per cent improvement in its bottom line for its fiscal third quarter together with a doubling of its revenue. Revenue growth was attributed to a higher number of transactions completed in Q3 FY2021. Shares of PropNex closed down 0.5 per cent or S$0.01 to S$1.90 on Nov 9.

Hatten Land: PH0 The Catalist-listed group on Wednesday (Nov 10) said it is forming a joint venture with Bursa-listed Nestcon to jointly secure, supply, construct, develop and manage solar panel facilities in Malaysia. The companies will pursue renewable energy activities, including the installation of over 6,000 solar panels on one of Hatten Group's malls. Shares of Hatten Land closed at $0.062 on Nov 9, down $0.001 or 1.6 per cent.

Genting Singapore: G13 Its net profit grew 11 per cent to S$60.7 million for the third quarter ended September, from S$54.4 million in the corresponding period a year ago. This comes despite declines from revenues across all segments, due to the enhanced safe-management measures introduced to curb the surge in new community cases. Shares of Genting Singapore closed 0.6 per cent or half a Singapore cent higher 81.5 cents on Tuesday (Nov 9), before the announcement.

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Far East Orchard: O10 The real estate group reported a wider net loss for the 9 months ended Sep 30 of S$12.6 million compared to its net loss of S$6.3 million a year ago. Revenue slid by 10.2 per cent year on year to S$75.4 million as the pandemic continued to weigh on its hospitality business. Shares in Far East Orchard closed up S$0.01 or 0.9 per cent at S$1.12 on Tuesday (Nov 9), before the results were released.

Hock Lian Seng: J2T The construction firm has snagged a S$320 million contract for the design and construction of the Aviation Park MRT station and tunnels, it said in a filing with the Singapore Exchange on Tuesday (Nov 9). Work on the project in Changi starts immediately. It closed at S$0.23, down S$0.005 or 2.1 per cent, before the news.

Riverstone Holdings: AP4 The glovemaker chalked up a near 50 per cent jump year on year in net profit to RM266.4 million (S$86.4 million) for the third quarter ended Sep 30, 2021. Revenue rose about 35 per cent to RM652.8 million, on the back of rising demand for its products. Prior to the results on Tuesday (Nov 9) the counter closed at S$0.78, down S$0.02 or 2.5 per cent.

EC World Reit: BWCU The real estate investment trust (Reit) posted a distribution per unit (DPU) of 1.662 Singapore cents for the third quarter ended September, up 19.7 per cent from a DPU of 1.388 cents in the year-ago period. In a bourse filing on Tuesday (Nov 9), its manager said it has commenced its refinancing plans and will offer an update when there is a material development. Units of the Reit closed 0.6 per cent or S$0.005 higher at S$0.815 on Tuesday (Nov 9), before the announcement.

SingHaiyi: 5H0 It has received a voluntary conditional cash offer from an investment holding company owned by Gordon Tang and his wife Celine Tang for all the issued ordinary shares in the company for S$0.117 per offer share in cash, with a view to delist. Shares of the group last ended Nov 8 S$0.001 or 0.9 per cent lower at S$0.108 before requesting a trading halt on Tuesday (Nov 9) morning. They resume trading on Nov 10. 

Food Empire: F03 Its group's net profit after tax fell 50.6 per cent to US$3.1 million in Q3, from US$6.3 million in the year-ago period, reported the instant food and beverage manufacturer on Tuesday (Nov 9). This comes despite registering higher revenue as high ocean freight rates and higher commodity costs ate into its profits. Shares of Food Empire closed flat at S$0.81 on Nov 9, before the business update.

Trading halts: Keppel Corporation BN4, Singapore Press Holdings (SPH) T39, Keppel Reit K71U and SPH Reit SK6U called for trading halts on the morning of Nov 10, before the market opened. Prior to that Keppel Corp had upped its privatisation offer for SPH with a "compelling" final offer of S$2.351 per share, which includes additional cash of S$0.20 per share.

Shares in Keppel shed S$0.03 or 0.6 per cent to close at S$5.31, while shares in SPH closed S$0.01 or 0.5 per cent higher at S$2.16 on Tuesday (Nov 9). Keppel Reit units ended the day flat at S$1.15, while SPH Reit closed S$0.01 or 1 per cent higher at S$1.02.

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