SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Monday (Feb 10):
Sembcorp Industries (SCI): The conglomerate has concluded multi-million-dollar legal proceedings over its pollution offences in China. SCI stated in a regulatory filing to Singapore Exchange on Friday after trading hours that its joint-venture wastewater treatment unit had received the final mediation document from the Chinese court. Separately, SCI's shares were sold down on Friday after it issued a profit guidance overnight, flagging an impairment of $245 million for its fourth quarter ended Dec 31. SCI shares closed 13 cents or 6.02 per cent lower at $2.03 on Friday.
Olam International: The agri-food giant announced on Monday that it will post a one-time post tax gain of about $72 million for its fiscal fourth quarter as a result of various restructuring initiatives, as per its strategic plan for up to 2024. Olam shares ended trading at $1.82 on Friday, down $0.01 or 0.5 per cent.
SIA Engineering: The group on Friday said its third-quarter net profit surged 63.1 per cent to $54 million, helped by contributions from associated and joint-venture companies. This came despite revenue dipping 1.5 per cent to $252.1 million, weighed down by a decline in airframe and line maintenance revenue. The counter closed at $2.61 on Friday before the results announcement, down 1.88 per cent.
Frasers Property: Its unit Frasers Property Retail will acquire property manager AsiaMalls Management for an undisclosed sum, Frasers Property announced on Monday. AsiaMalls manages a portfolio of five malls in Singapore, as well as a 20-storey office tower. Shares of Frasers Property fell $0.02 or 1.2 per cent to close at $1.65 on Friday.
Micro-Mechanics (Holdings): The mainboard-listed company, which makes high-precision tools and parts used in process-critical applications for the semiconductor industry, on Saturday posted a 14.4 per cent increase in net profit to $3.6 million for the second quarter ended Dec 31, 2019. Micro-Mechanics shares ended four cents lower at $1.81 on Friday.
Koufu Group: The food and beverage operator plans to expand its domestic footprint with a focus on hospitals, malls, tertiary institutions and new housing estates, according to chief executive officer Pang Lim. Koufu shares closed at $0.73 on Friday, down 1.5 cents or 2 per cent.