Singapore stock watch: Keppel Corp, SPH, SGX, Second Chance Properties, SK Jewellery

The Straits Times Index gained 30.84 points or 0.97 per cent to 3,216.37 as at 9.06am.
The Straits Times Index gained 30.84 points or 0.97 per cent to 3,216.37 as at 9.06am.PHOTO: ST FILE

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Friday (Oct 18):

Keppel Corporation: Keppel Corp's third-quarter net profit fell 30 per cent to $159 million from a restated $227 million a year ago, led by the absence of gains from divestment of a commercial development in Beijing and higher net interest expense. Earnings per share for the three months to September fell to 8.8 cents from 12.5 cents. No dividend was recommended for the period, same as the previous corresponding period. Keppel Corp shares fell two cents or 0.3 per cent to close at $5.96 on Thursday.

Singapore Press Holdings (SPH): SPH will cut 5 per cent of staff from its media group, it said on Thursday, as the company posted a 23.4 per cent decline in net profit to $213 million for the full year ended Aug 31. A final dividend of 6.5 cents per share, comprising a normal dividend of 5.5 cents per share, and a special dividend of one cent per share, was declared. These dividends will be paid on Dec 20. SPH shares fell three cents or 1.39 per cent to $2.13 on Thursday before the results were released.

Singapore Exchange (SGX): SGX has established its first-ever $1.5 billion multicurrency debt issuance programme, it said on Thursday. Under the programme, SGX may issue medium term notes or perpetual securities denominated in any currency, amount and tenor. The counter closed at $8.22 on Thursday, down 0.5 per cent, or four cents.

Second Chance Properties: Mainboard-listed Second Chance Properties said on Thursday that it expects to report a lower profit for the financial year ended Aug 31, compared to the last financial year. The company will announce its unaudited financial results for FY2019 on or before Oct 24. Shares in Second Chance Properties last traded at 21.5 cents on Wednesday, down 2.3 per cent, or 0.5 cent.

Pollux Properties: Pollux Properties said on Thursday that it expects to record a net loss for the first quarter ended June 30 compared to the same period a year earlier. This is due mainly to an increase in share of loss from a joint-venture company owing to delays in obtaining the strata title for the property from the Singapore Land Authority. Pollux Properties will report its financial results on or before Oct 29. The counter closed at 3.8 cents on Thursday, up 8.6 per cent, or 0.3 cent.

Sarine Technologies: Mainboard-listed Sarine Tech, which makes precision technology products used in diamond and gemstone production, said it expects to post a "nominal net profit" in the third quarter. The group's full financial report is expected to be released on Nov 10. Sarine Tech shares fell half a cent or 2.04 per cent to close at $0.24 on Thursday.

SK Jewellery: SK Jewellery on Thursday launched a new line of lab-grown diamonds, catering to millennials and changing demands in the diamond industry. SK Jewellery shares closed unchanged on Thursday at 9.5 cents before the announcement.

Soilbuild Construction Group: Soilbuild has won a contract worth $28.8 million to fabricate, supply and deliver precast concrete components, including Prefabricated Prefinished Volumetric Construction works for a public housing development project in Tengah, Singapore, it said on Thursday. The project is expected to commence in the first quarter of 2020 for completion by the second quarter of 2021. Soilbuild shares closed at 6.2 cents on Thursday, up 3.3 per cent, or 0.2 cent.

International Cement Group: The Singapore Exchange has granted International Cement Group a six-month extension to Dec 4, 2020, to exit from its watch list under the minimum trading price (MTP) entry criteria. In its quarterly update in August, the cement producer said it would explore various options to meet the minimum trading price exit criteria and would report any progress as and when it happens. It added that it already meets the requirement of an average daily market capitalisation of $40 million or more over the last six months.

Health Management International (HMI): HMI requested for a trading halt on Friday morning before the market, pending the results of its scheme meeting held today. Shareholders will vote on management's joint bid with a private equity investor to privatise the company. The counter closed flat at 72.5 cents on Thursday.