Stocks to watch: Datapulse, Tan Chong International, Ho Bee Land

The Singapore Exchange (SGX) Centre at Shenton Way.
The Singapore Exchange (SGX) Centre at Shenton Way. PHOTO: ST FILE

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Tuesday (March 27):

Datapulse Technology: Datapulse directors on Monday sought to assure minority shareholders that the board was "committed" to good governance even as it seeks corporate recovery by diversifying from the loss-making media storage business. The company's financial position remains healthy with a net cash position of S$87.1 million as at end-January 2018 after selling the Tai Seng property. The gain on disposal of S$44.6 million also boosted the company's H1 FY18 net profit more than six times to S$36.8 million. The company will hold an extraordinary general meeting on April 20. Shares in Datapulse last traded down 1.35 per cent to S$0.365 apiece on Monday.

Tan Chong International: Automobile company Tan Chong International recorded HK$501.92 million (S$84.12 million) in profit attributable to shareholders, a jump of 163 per cent from last year. The boost in the bottom line came despite a 5.3 per cent drop in revenue to HK$15.9 billion, mainly due to sales volume decline in its motor vehicle distribution and retail division. Earnings per share stood at 25 Hong Kong cents, against nine Hong Kong cents the previous year. Tan Chong's board is proposing a final dividend of 8.5 Hong Kong cents per share, payable on June 21, 2018, subject to approval at its May 28 annual general meeting. The counter last traded at HK$2.75 on Monday, unchanged from the previous day's close. 

Ho Bee Land (HBL): Property developer HBL on Monday said it has agreed to invest up to 40 million euros (S$64.8 million) in Credit Suisse (Lux) European Property Fund II. It has also committed to co-invest up to an additional 50 million euros by acquiring notes issued by a securitisation company called Clouse SA, Compartment 29. The fund invests in real estate and investment structures in key cities in Europe. HBL shares fell one cent to close at S$2.51 on Monday.