The Business Times

Stocks to watch: Venture, IHH Healthcare, Top Glove, UOL, SPH, Riverstone, Yanlord

Published Mon, Mar 1, 2021 · 09:00 AM

THE following companies saw new developments that may affect trading of their securities on Monday:

Venture Corporation: The group posted a net profit of S$166.8 million for the six months ended Dec 31, 2020, down 8.1 per cent from S$181.5 million for H2 2019 on Friday. Revenue decreased 8.6 per cent to S$1.6 billion from S$1.8 billion due to pandemic-related disruptions to global supply chains and factory lockdowns. Venture shares closed at S$19.20 on Friday, down S$0.50 or 2.5 per cent.

IHH Healthcare: Net profit for the fourth quarter of 2020 surged to RM419.4 million (S$137.5 million) from RM40.6 million in the corresponding period of the previous year. Revenue shrank 2 per cent to RM3.8 billion as lower patient volumes due to Covid-19 and travel restrictions were partially offset by Covid-19 related services that IHH provided. IHH shares closed at S$1.69 on Friday, up S$0.02 or 1.2 per cent.

Top Glove: The company has announced plans to raise RM7.77 billion (S$2.55 billion) from a listing in Hong Kong to fund expansion and bolster its profile with overseas investors. Shares of Top Glove closed down 0.6 per cent, or S$0.01 at S$1.79 on Friday.

UOL Group: Net profit for the group plunged 97 per cent to S$13.1 million for the year ended Dec 31, 2020, on the back of attributable fair value and other losses of S$246.7 million. Revenue shrank 13 per cent to S$1.98 billion from S$2.28 billion a year ago. Shares of UOL closed at S$7.39 on Friday, down S$0.13 or 1.7 per cent.

Singapore Press Holdings (SPH): Following a report by The Business Times highlighting potential returns for Coupang's existing investors if a proposed initial public offering (IPO) takes place, SPH said its indirect stake in Coupang is estimated at 0.1 per cent. Shares of SPH rose 9.4 per cent or S$0.12 on Friday, to close at S$1.40, on unusually high trading volume.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

VIEW ALL

Riverstone Holdings: The glove maker on Sunday posted a net profit of RM331.1 million (S$108.8 million) for the fourth fiscal quarter ended December 2020, up from RM32.1 million for the year-ago period. Revenue for the full fiscal year rose 85 per cent to RM1.83 billion from RM989 million for FY2019 as higher quantities of both healthcare and cleanroom gloves were shipped. Shares in Riverstone closed at S$1.36 on Friday, down 0.7 per cent or S$0.01.

Yanlord Land Group: The group's net profit edged down 3 per cent to 2.1 billion yuan (S$431.8 million) for the half-year ended December 2020, from 2.2 billion yuan for the corresponding period of the previous year. In a bourse filing on Sunday, it said revenue stood at 14.8 billion yuan, up from 11 billion yuan for H2 2019. Yanlord shares closed unchanged at S$1.15 on Friday.

Q&M Dental Group (Singapore): The mainboard-listed group recorded a net profit of S$19.7 million for the full year ended Dec 31, 2020, 10 per cent higher than its FY2019 profit of S$18 million. It has declared a second special interim dividend of 2.5 Singapore cents per share to "reward shareholders for the good performance in FY2020 despite Covid-19", and also in view of the potential profit generated from its disposal of a remaining 12.2 per cent of shares in Aidite. Q&M Dental shares closed half a Singapore cent, or 0.8 per cent lower, at 59.5 cents on Friday.

Golden Energy and Resources (Gear): The coal mining and trading company on Monday posted 18.7 per cent lower FY2020 net profit of US$8.1 million compared to US$9.9 million a year ago. This comes after the group raised its effective interest stake in Stanmore Coal as well as invested in the Ravenswood Gold project - which resulted in higher administrative expenses and a share of loss of a joint venture, respectively. Shares of Gear closed flat at S$0.16 on Friday.

Nanofilm Technologies: The group posted a 61.1 per cent rise in net profit to S$57.6 million for the year ended Dec 31, 2020, in its first financial report since listing on the Singapore Exchange mainboard in October 2020. It registered a 52.8 per cent revenue growth to S$218.3 million from S$142.9 million for FY2019. NanoFilm shares closed at S$4.64 on Friday, down S$0.18 or 3.7 per cent.

CNMC Goldmine Holdings: The Catalist-listed firm on Sunday reported a net loss of US$2.6 million for the second half of the fiscal year ended December 2020, reversing from a net profit of US$2.2 million for the year-ago period. Revenue for H2 fell 28.4 per cent to US$13.4 million from US$18.7 million for the corresponding period last year. Shares in CNMC closed flat at S$0.22 on Friday.

Japfa: The company posted a net profit of US$322 million for fiscal year 2020 ended December, up from US$120 million last year, while revenue for the year fell 1 per cent to US$3.87 billion from US$3.89 billion for FY2019. Shares in Japfa closed at 90 Singapore cents on Friday, down 1.6 per cent or 1.5 cents.

Medtecs International Corporation: The medical equipment supplier on Monday posted a net profit of US$131.7 million for the full year ended Dec 31, 2020 - almost 110 times the US$1.2 million net profit a year ago. This was due to improved economies of scale and higher sales, the company said. The counter closed at S$1.10 on Friday, down S$0.01 or 0.9 per cent.

KEYWORDS IN THIS ARTICLE

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Capital Markets & Currencies

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here