SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Tuesday (Jan 14):
Sats: A unit of the gateway services provider, Sats Saudi Arabia Company, has won a 25-year cargo terminal concession in King Khalid International Airport in Riyadh, Saudi Arabia. Construction of the terminal will take place over two phases, with the first phase expected to be completed in mid-2022, mainboard-listed Sats said on Monday. Its shares closed at $5.09 on Monday, down 0.2 per cent, before the announcement.
Singapore Press Holdings (SPH): The media and property group on Monday posted a 17.2 per cent fall in net profit to $46.3 million for the first quarter ended November 2019, hit by lower print advertising revenue and one-off retrenchment costs, although property remains a bright spot. SPH, which publishes The Straits Times, saw its shares close at $2.18 on Monday, down 0.46 per cent, before the results were released.
Singapore Technologies Engineering (ST Engineering): ST Engineering is collaborating with the Singapore University of Technology and Design (SUTD) to co-develop design thinking courses and programmes for up to 1,000 of its employees. Shares of ST Engineering closed at $4.03 on Monday, down 0.7 per cent or three cents, before the announcement.
Lian Beng Group: The mainboard-listed contractor recorded a 51.1 per cent increase in net profit to $11.2 million for the second quarter ended November 2019, while revenue doubled to $164.7 million. This translates to earnings per share of 2.24 cents for Q2, compared to 1.48 cents a year ago. The counter closed flat at $0.525 on Monday before the results were out.
Tee International and Tee Land: Mainboard-listed engineering group Tee International has entered into a conditional agreement to sell its 63.28 per cent stake in Tee Land to a unit of Malaysia's Amcorp Group for $50.62 million in cash or $0.179 per share. Tee International and Tee Land on Tuesday morning requested to lift the trading halts in their shares. Tee International shares traded at $0.064 before the halt, while Tee Land shares last changed hands at $0.169 on Jan 9.
Duty Free International (DFI): The retail group saw its earnings fall 48 per cent to RM7.9 million (S$2.6 million) for the third quarter of FY2020 ended November, weighed down by financial expenses which ballooned over tenfold year-on-year, according to a regulatory update on Monday after trading hours. The counter closed at $0.155 on Monday, down 1.27 per cent.
The Trendlines Group: The Catalist-listed startup incubator said early on Tuesday that one of its portfolio companies is in negotiations for the sale of all its shares to an unnamed public corporation. The portfolio company has signed a non-binding letter of intent with the potential buyer, which has "demanded confidentiality" regarding the negotiations. The counter ended at $0.107 on Monday, up 0.2 cent or 1.9 per cent.
China Haida: The mainboard-listed firm is scrapping its planned rights issue that could have raised net proceeds of about $3.3 million, after failing to get the green light from the Singapore Exchange. This was due to concerns raised in the Trade With Caution Notice the bourse issued last week. China Haida shares closed flat at $0.009 on Monday before the announcement.
SLB Development: The property player on Monday evening posted $3.6 million in earnings for its second quarter, lifted by revenue from the Mactaggart Foodlink project, reversing the year-ago loss of $726,000. SLB shares closed flat at $0.118 on Monday.
HC Surgical Specialists: The Catalist-listed firm has signed an exclusive three-year agreement to provide consultancy and medical services for The Prestige Hospital in Cambodia, marking its foray into the South-east Asian country. Shares of HC Surgical closed up $0.015 or 2.9 per cent to $0.54 on Monday, before the announcement.
GKE Corporation: The logistics firm posted a net profit of $1.55 million for its second quarter, reversing the year-ago $1.39 million loss. This comes as revenue rose 44.1 per cent to $29.5 million, cemented by revenue from its Chinese concrete plant, Wuzhou Xing Jian. GKE shares closed flat at $0.064 on Monday before the announcement.
Qian Hu Corporation: The fish service provider saw its earnings increase over seven times to $346,000 for the fourth quarter ended December, buoyed by the absence of an impairment charge and the firm's budding aquaculture segment, while revenue for the quarter fell 5.1 per cent to $19.6 million. Qian Hu shares closed flat at $0.133 on Monday before the results were released.