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Stocks to watch: Valuetronics, AVJennings, Stamford Land, Jason Marine, Fischer Tech, DBS
THE following stocks had announcements that could affect trading activity on Tuesday:
Valuetronics Holdings on Tuesday said it posted a 0.9 per cent increase in net profit to HK$149.2 million (S$25.7 million) for its full year ended March 31, 2015. Revenue of the electronics manufacturing services provider dipped 0.2 per cent to HK$2.4 billion. This was due to its consumer electronics revenue falling on slower demand, despite industrial and commercial electronics' revenue rising on higher demand and a new customer.
AVJennings on Tuesday said it has signed agreements to acquire the Waterline Place project in Williamstown, Victoria. It did not reveal the acquisition cost. Waterline Place has up to 850 dwellings with a mix of apartments and townhouses, as well as retail spaces in the historic inner Melbourne suburb of Williamstown. This is AVJennings' first major inner suburb infill project in Victoria for some time.
Stamford Land Corp on Monday reported an 87.5 per cent surge in net profit to S$5.39 million for the fourth quarter ended March 31, 2015, as revenue was boosted by its property development segment. Revenue was 80 per cent higher at S$111.99 million, thanks to its property development segment which was the biggest contributor to the topline. Revenue from the property development segment clocked S$61.69 million, up significantly from just S$6.91 million a year ago, due to the disposal of a site.
Jason Marine on Monday said it turned in a 39.8 per cent rise in net profit to S$3.89 million with help from higher net exchange gain. The 12 months ended March 31 (FY2015) saw revenue up 12.4 per cent at S$56.42 million. The group provides and services marine communication, navigation, and automation systems for the marine and offshore oil and gas industries.
Fischer Tech on Monday reported a net profit of S$7.48 million for the financial year ended March 31, 2015, up 12.7 per cent year on year. Revenue rose 17.5 per cent to S$168.27 million on the back of increased orders from its customers across nearly all its sectors except for the computer peripherals sector, where sales slid 11.9 per cent on the back of lower demand for plastic components for printers.
DBS Bank on Monday said it has ramped up its commitment to Marina Bay, with a pledge of S$12 million over three years to further boost activities in the area. This is on top of its commitment of S$10 million over three years in 2013, when the bank first introduced a series of activities to attract members of the public to the financial hub.