Stocks to watch: SIA, Courts Asia, Shanghai Turbo, Sino Grandness, Vibrant Group, KOP, LifeBrandz

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way.PHOTO: ST FILE

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Thursday (March 14):

Singapore Airlines: The carrier has established a $2 billion medium term bond programme for senior unsecured debt, it said in a regulatory filing on Thursday morning. DBS has been appointed as arranger of the programme, while DBS, OCBC and UOB were named as programme's dealers. SIA said the bonds may be issued to retail investors and in varied amounts and tenors. The airline's shares closed up four cents at $9.72 on Wednesday.

Courts Asia: The furniture and electronics retailer will be delisted from the Singapore Exchange, with less than 10 per cent of its shares now held by the public. In a regulatory filing by Courts on Wednesday, offeror Nojima Asia Pacific said it "does not intend to support any action or take any steps" to maintain the listing status of Courts Asia, with intentions to delist it after the offer closes. Shares of Courts Asia closed flat at $0.20 apiece on Wednesday.

Shanghai Turbo Enterprises: Shanghai Turbo narrowed its full-year 2018 net loss to 14 million yuan (S$2.8 million) from a restated year-ago loss of 158.1 million yuan as it managed to collect doubtful trade receivables. Loss per share for the 12 months ended Dec 31, 2018 was 0.51 yuan, a smaller deficit than the loss per share of 5.75 yuan the year before. Shares of Shanghai Turbo, a China-based precision manufacturer, last traded at $0.99 on Feb 27.

Sino Grandness Food Industry Group: The Chinese canned vegetable and fruits producer has applied to the Singapore bourse for an extension of time to hold its annual general meeting (AGM) for FY2018, and to release its financial results for the first quarter ended March 31. The company is seeking to push back the deadline to hold its AGM from April 30 to May 31, and to extend the deadline to release its Q12019 results from May 14 to June 14. Shares in Sino Grandness closed at 5.1 cents apiece on Wednesday, up two per cent, or 0.1 cent.

Vibrant Group: The company, previously known as Freight Links Group, pulled itself back into the black for the quarter ended Jan 31, 2019. It reported a net profit attributable to shareholders of $3.9 million in its fiscal third quarter, compared to a net loss of $664,000 the year before. This comes as its revenues for the period climbed 13 per cent year-on-year to $51.7 million. Vibrant Group said that the increase was due mainly to the completion of development property, the Master-Riviera project. The counter ended trading on Wednesday down 0.1 cent at $0.143.

KOP: The property developer said on Wednesday that a court claim against certain of its subsidiaries has failed. In December 2017, a statement of claim was filed by Dominic Andrla against certain KOP subsidiaries, to cancel the lease and unit management agreement for two units of a property owned by KOP's subsidiary. The court of Batam, Indonesia, has since pronounced that the claim has failed and ordered Dominic Andrla to pay all costs incurred by the court. KOP shares closed flat at $0.051 on Wednesday.

LifeBrandz: The lifestyle group posted a net loss of $599,000 in the three months ended Jan 31, widening 18 per cent from a net loss of $510,000 in the same period a year earlier. Revenue in the second quarter rose 65 per cent to $1.5 million, but total expenses also jumped 50 per cent to $2.15 million. The increase in revenue was mainly due to increase in food and beverage (F&B) revenue of $800,000, partially offset by decrease in travel booking service revenue of $200,000. Its shares closed flat at $0.007 on Wednesday.