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Stocks to watch: TT International, Ezion, Olam, Golden Agri-Res
THE following companies saw new developments that may affect trading of their shares on Tuesday:
TT International: The troubled consumer electronics retailer said on Tuesday it has applied for an extension of six months till Feb 14, 2018 to announce its unaudited financial statements for Q1 and Q2 FY2018. This will provide the company with adequate time to pursue a resolution, including ongoing debt restructuring, which may require between three and six months to complete, the group said.
Ezion Holdings: The offshore and marine (O&M) group called for a trading suspension on Monday. Ezion slipped into the red for the third reporting season in a row with a net loss of US$2.57 million for the second quarter ended June 30, a reversal from a net profit of US$8.14 million for the year-ago period.
Olam International: Olam's net profit jumped 29 per cent to S$147.7 million from the year-ago period, the group said in a Singapore Exchange filing on Monday morning. The group has declared a dividend per share of 3.5 Singapore cents, up from three Singapore cents in the previous year.
Golden Agri-Resources: The absence of deferred income tax credit took a toll on the results of Golden Agri-Res for its second quarter. Net profit fell by 44.7 per cent to US$21.9 million from the preceding year, while earnings per share came in at 0.17 US cent, down from 0.31 US cent last year.