Stocks to watch: Keppel, Hyflux, IEV Holdings, Libra Group, China Kangda

The Singapore Exchange logo seen outside its building along Shenton Way.
The Singapore Exchange logo seen outside its building along Shenton Way. PHOTO: ST FILE

SINGAPORE - The following companies saw new developments which may affect trading of their shares on Thursday (March 29):

Keppel Corporation: Keppel had ring-fenced financial penalties from the global resolution with the criminal authorities in the United States, Brazil and Singapore when considering the dividend payout for the year, its chairman Lee Boon Yang wrote in the company's annual report released on Thursday. Taking into account the group's improved performance, excluding the one-off financial penalty from the global resolution and related costs, the board had proposed a final dividend of 14 Singapore cents per share. Together with the interim cash dividend of eight cents per share distributed last August, this added up to a total cash dividend of 22 cents per share to shareholders for the whole of 2017, compared to 20 cents for 2016.

Hyflux: The water treatment firm on Wednesday said it has reached a global full and final settlement agreement with a Chinese entity over certain non-water industrial project works carried out for the Chinese claimant. With this, the claimant has agreed to irrevocably withdraw the arbitration proceedings.

IEV Holdings: The offshore engineering services firm on Wednesday said its independent auditors have flagged "material uncertainty" over the business based on its financial statement for the year ended Dec 31, 2017. Deloitte & Touche noted that the loss-making group had a net operating cash outflow of RM11.1 million (S$3.76 million) for the 12 months ended Dec 31, 2017. It further pointed out that as at Dec 31, 2017, the group's current liabilities exceeded their current assets by RM6.3 million.

Libra Group: The provider of mechanical and electrical engineering services, on Wednesday said it has completed its S$12 million acquisition of a 51 per cent stake in a Malaysia-based tourism and retail-related business from its company's CEO. The company said in a press statement that this charts "a new asset-light growth diversification strategy". It has acquired YC Capital Consolidated from the company's executive chairman and CEO, Chu Sau Ben, in an all share transaction. YC Capital is a travel and tour agency service in Malaysia that also sells local herbal products, bird's nest, coffee, chocolates and mattresses.

China Kangda Food Company: The company, which sells chicken and rabbit meat, swung into the red for its full year, as it saw higher mortality rate of its chickens. Net loss for the 12 months ended Dec 31, 2017 stood at 12.8 million yuan (S$2.66 million), compared to a net profit of 7.55 million yuan. The results reflected a stark change in the fair value of its biological assets. It recorded a gain of just 1.61 million yuan due to changes in fair value in biological assets once estimated selling costs are deducted. This was a significant fall from the 37.8 million yuan in fair value gain it posted in 2016.