SINGAPORE - The following companies saw new developments which may affect trading of their shares on Friday (June 29):
Del Monte Pacific: Mainboard-listed Del Monte Pacific has reported a fourth-quarter net profit of US$12.3 million, up from US$2.9 million in the year-ago period, as a result of a one-off gain from the purchase of Del Monte Foods Inc (DMFI) loans at a discount in the secondary market, the group said on Friday. However, excluding a net one-off gain of US$14.3 million, the group would have incurred a net loss of US$2.1 million versus a net profit of US$17.2 million last year. This was due to lower export sales, significantly reduced PJC (pineapple juice concentrate) prices, and investments in trade spending and marketing to strengthen its core business in the US.
Rich Capital: Rich Capital Holdings, formerly known as Infinio Group, on Thursday said the Singapore Exchange has advised that it has no objection to the continued listing of the company on the Catalist board. In its decision, SGX said it had taken into account the successful fund-raising exercises done by the company which raised about S$26.8 million, shareholders' approval obtained for its business diversification into property development and specialist construction services, and the fact that the company has secured the acquisition of three property development projects in Singapore and Indonesia.
Second Chance Properties: Net profit for the third quarter fell 61.6 per cent to S$2.1 million from the year-ago period, the group said in a Singapore Exchange filing on Thursday evening. For the three months ended May 31, revenue increased 3.2 per cent to $9.7 million from the year-ago period.
Emerging Towns & Cities Singapore: Emerging Towns & Cities has requested to resume trading in its Catalist shares starting June 29, the property player said in a Singapore Exchange (SGX) filing on Thursday night. It made disclosures of the confirmation from the board and sponsor on a few matters as conditions for SGX Regco's approvals, such as the fact that an internal report by Baker Tilly Consultancy has found satisfactory results in that the group has in place adequate and effective internal controls addressing financial, operational and compliance risks, and that the company and group have sufficient working capital for the next 12 months from the date of trading resumption, barring any unforeseen circumstances.