Singapore stock watch: Jardine C&C, Olam, Venture, Yangzijiang, Haw Par, Hong Leong Finance

The Singapore Exchange Centre in Shenton Way. ST PHOTO: KUA CHEE SIONG

SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Friday (Feb 28):

Jardine Cycle & Carriage (C&C): The regional auto dealer's earnings for the year ended Dec 31, 2019 rose marginally from a year ago as lower car sales in Singapore, Malaysia and Vietnam offset savings on corporate costs, according to the regional auto dealer's results on Thursday. Jardine C&C shares closed at $28.22 on Thursday before the results were announced, down $0.56 or 2 per cent.

Olam International: The agri and food giant more than quadrupled its net profit to $313.4 million for the fourth quarter, compared with $75.3 million a year ago, according to its results released on Friday morning. Olam shares closed at $1.74 on Thursday, down $0.01 or 0.6 per cent.

Venture Corp: The electronics manufacturing services firm on Thursday announced a 10.6 per cent drop in net profit for the fourth quarter ended Dec 31, as rising costs outstripped an increase in revenue. The counter closed up $0.13 or 0.8 per cent, at $16.50 on Thursday before the results were announced.

Yangzijiang Shipbuilding: China's largest non-state owned shipbuilder on Friday posted a 30 per cent drop in net profit to 642.3 million yuan (S$127.9 million) for its fourth quarter ended Dec 31, from 912.1 million yuan a year ago. Shares of Yangzijiang closed at 97.5 cents on Thursday, up 0.5 cent or 0.5 per cent.

Haw Par Corporation: The Tiger Balm maker on Thursday posted a net profit of $182.2 million for the year ended Dec 31, up 1.8 per cent from $179.1 million a year ago. Haw Par shares closed at $12.29 on Thursday before the announcement, up $0.10 or 0.8 per cent.

Hotel Properties: Net profit for the mainboard-listed group fell sharply in the year ended Dec 31, 2019, coming in at $57.1 million from $121.3 million in the previous year. Hotel Properties shares closed at $3.52 before the results were announced on Thursday, down $0.08 or 2.2 per cent.

Hong Leong Finance: The group's net profit for the year ended Dec 31 fell 12.9 per cent to $103.1 million from $118.3 million in 2018, the group said on Thursday after trading hours. Hong Leong Finance shares closed at $2.59 on Thursday, down $0.01, or 0.4 per cent.

EC World Real Estate Investment Trust (EC World Reit): Its distribution per unit fell by 3.8 per cent on the year to 1.51 cents for the fourth quarter last year, from 1.57 cents a year ago. Demand for space at its Wuhan asset is expected to be muted due to the Covid-19 situation, the manager said. The counter closed at 72.5 cents on Thursday, up one cent or 1.4 per cent, before the results were released.

Food Empire Holdings: The mainboard-listed firm said in an interview with The Business Times that it is looking beyond its core businesses in Russia, Kazakhstan and Ukraine to take on a multi-regional focus with Asia at the forefront. Food Empire shares on Thursday ended $0.01 or 1.4 per cent lower at $0.715.

Amara Holdings: The mainboard-listed group's net profit fell 12 per cent to $28.2 million for the full year ended Dec 31, 2019, from $32 million previously. Amara shares closed flat at $0.41 on Thursday before the results were announced.

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