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Stocks to watch: ThaiBev, Keppel Corp, Golden Agri, Hong Fok, Banyan Tree
THE following companies saw new developments that may affect trading of their shares on Thursday:
Thai Beverage Public Co: ThaiBev saw net profit rise 22 per cent to 6.65 billion baht (S$299 million) for the third quarter ended June 30, it announced on Wednesday. Revenue was up 3 per cent to 62.7 billion baht. All business segments saw improvement in margins. Earnings per share for the quarter were 0.26 baht, compared with 0.22 baht for the year-ago period. No dividend was declared, the same as a year ago. ThaiBev shares closed up 1.5 Singapore cents or 1.84 per cent at 83 Singapore cents on Wednesday, before the results announcement.
Keppel Corporation: Keppel Corp, as one of KrisEnergy's creditors, said on Wednesday night that it supports KrisEnergy's application for a debt moratorium because without it, there will be a "significant risk" that creditors' legal action may jeopardise KrisEnergy's ability to come up with a debt restructuring plan. Keppel has appointed Borrelli Walsh as its financial adviser to monitor the situation and explore options. Shares of Keppel ended trading at S$5.94 on Wednesday, up four cents or 0.68 per cent.
Golden Agri-Resources: Plantation owner Golden Agri-Resources continued to take a hit from soft crude palm oil prices for the second quarter, as it posted a net loss of US$64.7 million, against a US$39 million loss a year ago. Revenue for the quarter ended June 30 fell 16.7 per cent to US$1.6 billion, weighed by lower crude palm oil prices. Loss per share came in at 0.51 US cent, against 0.31 cent previously. The counter closed at 29.5 Singapore cents on Wednesday, down 1.7 per cent, or 0.5 cent.
Hong Fok Corporation: Property developer Hong Fok Corporation's net profit almost halved for the second quarter ended June 30, falling 42 per cent to S$2.3 million from S$4.1 million a year ago. Earnings per share came in at 0.34 Singapore cent for the quarter, down from 0.59 cent for the corresponding period last year, according to the group’s filing on Wednesday night. Group revenue fell by 35 per cent year on year to S$20 million from S$30.9 million. This was mainly because there was no recognition of sales of its development properties in Singapore during the quarter, as compared to the S$13 million recognised for the year-ago period. No dividend was declared for the period, the same as a year ago. Shares of Hong Fok ended trading at S$0.81 on Wednesday, up one Singapore cent or 1.25 per cent, before the results were released.
Banyan Tree Holdings: Resort operator Banyan Tree Holdings sank further into the red on Wednesday, posting losses of S$7.9 million for the second quarter, versus S$5.4 million a year ago. This came as revenue slid 24 per cent to S$51.8 million, dragged by a sluggish hotel business and fewer property sales recognised. Second-quarter loss per share stood at 0.94 Singapore cent, against 0.64 cent a year ago. The counter closed at 46.5 Singapore cents on Wednesday, up 1.1 per cent, or 0.5 cent, before the release of its results.
Sunpower Group: Mainboard-listed Sunpower Group reported underlying net profit of 111 million yuan (S$22 million) for the first-half ended June 30, up 53.2 per cent from the year-ago period, the environmental solutions firm announced on Wednesday night. Revenue for the half-year rose 20.6 per cent to 1.47 billion yuan. Earnings per share for the first-half was 14.7 fen, compared with 9.8 fen for the year-ago period. Sunpower shares closed up three Singapore cents or 7.14 per cent at 45 Singapore cents on Wednesday before the results release.
Asian Pay Television Trust (APTT): For the second quarter ended June 30, APTT has declared an ordinary interim distribution per unit (DPU) of 0.3 Singapore cent, to be paid on Sept 27. In its results announcement on Wednesday, the business trust reaffirmed its distribution guidance for DPU of 1.2 cents per year for 2019 and 2020, expected to be paid quarterly at 0.3 cent per quarter. Revenue for the quarter fell 6.9 per cent to S$72.2 million, with lower revenue for each segment: basic cable TV, premium digital cable TV, and broadband. Ebitda (earnings before interest, tax, depreciation and amortisation) for the quarter was down 3.8 per cent at S$44.5 million, compared with S$46.3 million for the year-ago period. This was despite an improved Ebitda margin of 61.6 per cent, up from 59.6 per cent. APTT units closed up 0.1 Singapore cent or 0.59 per cent at 17 Singapore cents on Wednesday before the results release.
mDR: Mainboard-listed mDR saw net profit treble to S$1.69 million for the second quarter ended June 30 from S$576,000 for the year-ago period, it announced on Wednesday. Revenue from continuing operations rose 11 per cent to S$66.97 million, lifted by higher revenue from mDR's investment and distribution management solutions (DMS) business segments. Earnings per share were 0.003 Singapore cent, the same as in the year-ago period. For the quarter, mDR has proposed a dividend of 0.00307 Singapore cent per share. None was proposed a year ago. mDR shares closed unchanged at 0.1 Singapore cent on Wednesday before the results release.
CNMC Goldmine Holdings: Catalist-listed CNMC Goldmine on Wednesday reported net profit of US$0.83 million for the second quarter ended June 30, reversing a loss of US$0.34 million for the year-ago period. Higher gold production, lower operating costs and the absence of expenses relating to a proposed dual listing in Hong Kong contributed to the quarter's improved results, said CNMC. Revenue in the second quarter rose 7.4 per cent to US$10 million, with higher output from CNMC's flagship Sokor gold field in Kelantan, Malaysia, as well as higher gold prices. Earnings per share were 0.2 US cent, compared with a loss per share of 0.08 US cent for the year-ago period. No dividend was declared, the same as a year ago. CNMC shares closed down 0.5 Singapore cent or 1.54 per cent at 31 Singapore cents on Wednesday before the results release.