Singapore stock watch: Medtecs, Koufu, Sembcorp, SembMarine, Keppel, SingPost, Wilmar

SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their shares on Wednesday (Aug 12):

Medtecs International Corporation: The healthcare player posted a net profit of U$38.9 million for the six months ended June 30, 2020 - 101 times the U$385,000 net profit a year ago. This was due to higher sales, higher gross profit margins, as well as foreign exchange gains, the company said. Shares in Catalist-listed Medtecs closed at 97.5 cents on Tuesday, up 0.5 cent or 0.5 per cent, before its results announcement.

Koufu Group: The food and beverage company's net profit dived 82 per cent to $2.54 million for the half year ended June 30, as the Covid-19 pandemic took a big bite out of its earnings when Singapore's "circuit-breaker" measures kicked in. Koufu shares closed at 68 cents on Tuesday, down 1.5 cents or 2.2 per cent, before the results were released.

Sembcorp Industries (SCI), Sembcorp Marine (SMM): Shares of SCI and SMM saw heavy trading on Tuesday after shareholders voted overwhelmingly in favour of their two-part recapitalisation and demerger proposal. SCI shares ended at $1.85, down 2.6 per cent or $0.05 on Tuesday, while shares in SMM finished at $0.34, down $0.01 or 2.9 per cent.

Keppel Corporation: Keppel Corp shares were dragged down on Tuesday as investors were on edge after the surprise announcement that Temasek Holdings has scrapped its $4 billion partial offer for the conglomerate. The counter clawed back some losses to finish at $4.80, down 11.1 per cent or $0.60 from Friday.

Singapore Post (SingPost): SingPost's group revenue increased 12 per cent to $360 million for its first fiscal quarter ended June 30, 2020, from $321 million for the corresponding period last year. However, group profit on operating activities nearly halved to $22 million, dragged by higher expenses. SingPost shares fell $0.01 or 1.4 per cent to finish Tuesday at $0.70, before the business update was released.

Wilmar International: The mainboard-listed agri-business group saw its profit (excluding discontinued operations) jump 38.7 per cent to U$610.87 million for the first six months of this year, on the back of improved contributions across all core segments. Before the release of its half-year results, the stock closed at $4.69 on Tuesday, down $0.11 or 2.3 per cent.

Ascendas Real Estate Investment Trust (Ascendas Reit): The trustee of Ascendas Reit has established a $7 billion euro medium-term securities programme, the Reit manager announced on Wednesday. Units of Ascendas Reit closed at $3.42 on Tuesday, down $0.03 or 0.9 per cent.

HRnetGroup: Recruitment firm HRnetGroup saw its net profit sink 31.9 per cent to $21 million for the half year ended June 30, mostly due to an unrealised loss of $3.6 million on revaluation of its financial assets. HRnetGroup shares closed at 47 cents on Tuesday, down 0.5 cent or 1.1 per cent.

Roxy-Pacific Holdings: The property and hospitality group saw its net profit sink 70 per cent to $2.79 million for the half year ended June 30, dragged down by the impact of Covid-19. The group's shares ended flat at 32.5 cents on Tuesday, before the release of its results.

Centurion Corporation: The mainboard-listed housing operator on Tuesday saw profits slip by 10 per cent to $9.13 million for its second quarter ended June 30, due to additional costs incurred to manage the Covid-19 situation in workers' accommodation. Centurion shares closed at 35 cents on Tuesday, down 0.5 cent or 1.5 per cent, before its results announcement.

Soilbuild Construction: Soilbuild sank deeper into the red for its half-year ended June 30, as the suspension of business activities and extension of construction periods for its projects hit its business hard. Losses deepened to $17.9 million for the period, from a loss of $1.8 million a year ago. Soilbuild's shares closed flat at 2.7 cents on Tuesday, before the release of its results.

Trading halts: Aspen (Group) Holdings and Kitchen Culture Holdings separately requested trading halts on Wednesday morning before the market opened. Aspen shares closed at 5.6 cents on Tuesday, down 2.9 cents or 34.1 per cent, while shares in Kitchen Culture ended flat at $0.32.