This article was originally published on Friday, 1 March 2019 at 1:04 A.M. SGT; it has since been updated to include Yangzijiang and City Developments.
These are Singapore companies which may be in focus on Friday, 1 March 2019:
Yangzijiang Shipbuilding
Yangzijiang Shipbuilding reported on Friday its fourth quarter net profit rose 47 percent on-year to 1.07 billion yuan, despite lower revenue, amid lower expenses and the reversal of an impairment loss. The results beat some analysts’ forecasts.
Read more: Yangzijiang reports 4Q18 net profit up 47 percent, beating some analysts’ forecasts
City Developments
City Developments said on Friday it acquired a U.K. site at Monk Bridge in Leeds for 15.4 million British pounds, or around S$27.5 million) from Alpha Real Trust to develop as a build-to-rent project, marking its entry into the country’s private rented sector (PRS).
Read more: City Developments acquires UK site for build-to-rent project
Jardine Strategic
Holding company Jardine Strategic reported on Thursday its 2018 net profit dropped 57 percent on-year to US$1.84 billion (S$2.48 billion) due to a restructuring charge for Dairy Farm’s Southeast Asia food business and unrealized fair value losses.
Read more: Jardine Strategic reports 2018 net profit dropped 57 percent
Yangzijiang Shipbuilding
HongKong Hengyuan Investment ceased to be a substantial shareholder of Yangzijiang Shipbuilding after disposing of all of its 282.36 million shares, or 7.19 percent stake, in an off-market deal, it said in a filing to SGX after the market close on Thursday.
A separate filing said Hengyuan Asset Investment became a substantial shareholder by acquiring a 7.19 percent stake in an off-market deal.
Read more about Yangzijiang Shipbuilding.
Dairy Farm International
Supermarket operator Dairy Farm International reported on Thursday its 2018 net profit dropped 77 percent to US$92 million (S$124.27 million) after a US$453 million restructuring charge for the food business in Southeast Asia.
Read more: Dairy Farm 2018 net profit dropped 77 percent on Southeast Asia food restructuring charge
Hongkong Land
Hongkong Land reported on Thursday its 2018 net profit fell 56 percent on-year to US$2.46 billion (S$3.32 billion) on a lower net gain of US$1.42 billion from higher valuations of investment properties.
Read more: Hongkong Land 2018 net profit falls 56 percent on lower valuation gains
Straits Times Index
FTSE Russell said on Thursday that there would be no changes to the constituents of the Straits Times Index after the March quarterly review.
The STI reserve list, which is the five highest ranking non-members of the index by market capitalization, will be Mapletree Commercial Trust, Suntec REIT, Mapletree Logistics Trust, Keppel REIT, and Mapletree North Asia Commercial Trust, it said in a filing to SGX.
Reserve list stocks replace any index constituents that become ineligible due to corporate actions before the next review, it said.
Halcyon Agri
Natural rubber producer Halcyon Agri reported on Thursday a fourth quarter net loss of US$7.4 million (S$9.98 million), swinging from a year-ago profit of US$11.4 million, despite higher sales volumes, as rubber prices fell.
Read more: Halcyon Agri posts 4Q18 loss as trade war pushes rubber prices to lows
Mandarin Oriental
Mandarin Oriental reported on Thursday its 2018 net profit fell 21 percent on-year to US$43.6 million (S$58.78 million) on an accelerated write-down related to the planned closure of the Excelsior hotel in Hong Kong.
Read more: Mandarin Oriental 2018 net profit fell 21 percent on write-down for Excelsior closure
Yangzijiang Shipbuilding
Yangzijiang Shipbuilding said on Thursday that its wholly owned subsidiary Jiangsu Yangzijiang Shipbuilding Co., or JYSCO, entered a subscription agreement to acquire a 51 percent interest in Shanghai Econovo Marine Engineering for 11.24 million yuan (S$2.27 million or US$1.68 million).
Read more: Yangzijiang Shipbuilding to take 51 percent stake in Shanghai Econovo
Yongnam Holdings
Yongnam Holdings reported on Thursday its 2018 net loss widened to S$51.02 million from a net loss of S$16.96 million a year earlier amid provisions on projects and lower revenue.
Read more: Yongnam reports 2018 net loss widened on project provisions and lower revenue
OUE Lippo Healthcare
OUE Lippo Healthcare said on Thursday that CEO and Executive Director Wong Weng Hong, age 55, would step down from his roles to assume other responsibilities within OUE Group, effective immediately.
It tapped Yet Kum Meng, age 48, currently the chief financial officer, to take over as CEO and executive director, it said in filings to SGX after the market close on Thursday.
“The appointment of Mr. Yet as chief executive officer is part of the company’s leadership renewal process, aligned with its ongoing business transformation,” it said in the filing.
Read more about OUE Lippo Healthcare.
Keppel DC REIT
Keppel DC REIT’s manager said on Thursday it issued 50 million euros (S$76.96 million or US$57.09 million) in floating rate notes due 2026 under its S$500 million multicurrency medium term note program.
Read more about Keppel DC REIT.
Spackman Entertainment Group
Spackman Entertainment Group reported on Thursday a 2018 net loss of US$2.16 million, swinging from a year-ago profit of US$2.98 million amid higher expenses and a year-earlier gain.
Read more: Spackman Entertainment swings to 2018 net loss amid higher expenses
