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Stocks to watch: Yoma Strategic, Singtel
THE following stocks had developments or news that may influence trading on Friday:
Yoma Strategic Holdings, the mainboard-listed Myanmar play, on Friday posted a 98.7 per cent fall in net profit for the third quarter to S$0.3 million, from S$25.2 million a year ago.
This was attributable to currency translation losses and a significantly lower fair value gain recognised in the quarter.
Revenue for the three months ended Dec 31, 2016, grew 16.6 per cent to S$27.7 million, from S$23.8 million last year, boosted by a 22.4 per cent growth in the group's non-real estate businesses to S$16.9 million. Revenue from Yoma's real estate business grew 8.7 per cent.
Singtel on Thursday said it is preparing to divest more than 75 per cent of its 100 per cent shareholding in NetLink Trust (NLT), for which it is making ready an initial public offering (IPO).
Singtel has been mandated by Infocomm Media Development Authority to divest its shareholding in NLT to less than 25 per cent by April 2108. It has appointed three investment bankers - reportedly Morgan Stanley, UBS Group and DBS Bank - to advise it on NLT's IPO.