SINGAPORE - Local stocks to look out for on Tuesday morning (Nov 7) trading include Cityneon, Hi-P International, Vallianz Holdings, ASL Marine and Genting Singapore.
Cityneon Holdings: Mainboard-listed Cityneon Holdings may face a possible mandatory unconditional cash offer as a Hong Kong company acquires its majority shareholder Lucrum 1 Investment Limited, which holds a nearly 70 per cent stake in Cityneon. If the acquisition materialises, the Hong Kong firm Mutual Power - an indirect wholly owned subsidiary of Hong Kong-listed Teamway International Group Holdings - will be required by law to make a mandatory unconditional cash offer to acquire all the issued and paid up ordinary shares in Cityneon.
Hi-P International: In filings on Monday, mainboard-listed Hi-P International Limited posted an increase of 24.9 per cent for its third-quarter net profit to S$38.4 million, fuelled by improvements to operational efficiency. For the three months ended Sept 30, 2017, earnings per share stood at 4.76 Singapore cents, up from 3.76 Singapore cents a year ago. Revenue for second-quarter 2017 rose 6.2 per cent to S$411.3 million. Hi-P closed trading at S$2.06 on Monday, up 14.5 Singapore cents, or 7.6 per cent.
Vallianz Holdings: Higher operating profits helped send earnings soaring by more than 400 per cent at Vallianz Holdings for the second quarter. The offshore support vessel owner and operator on Monday reported a net profit of US$5.3 million for the three months ended Sept 30 - well up on the US$924,000 from the same period a year earlier. Vallianz requested a trading halt on the stock to be lifted on the evening of Nov 7, after the results were announced. Its shares last closed on Friday, Nov 3, at two Singapore cents.
ASL Marine Holdings: Mainboard-listed ASL Marine Holdings Ltd announced on Monday it expects to record a net loss for the first quarter of the 2018 fiscal year. In a Singapore Exchange filing, the company said that based on the preliminary review of the unaudited consolidated financial statements for the three months ended Sept 30, 2017, the group is expected to record a net loss due to weaker contribution from operations, and said that shareholders and investors are advised to exercise caution when dealing in the shares of the company.
Genting Singapore: Genting Singapore's net profit attributable to ordinary shareholders jumped 35 per cent year-on-year to S$143.79 million for the third-quarter ended June 30. Revenue rose 8 per cent to S$629.87 million, supported by a stronger VIP and premium mass business volume, while earnings per share clocked 1.20 Singapore cents, versus 0.89 cent in the corresponding quarter a year ago. Its stock last closed on Monday, Nov 7, at S$1.24, up 0.82 per cent.