SINGAPORE - The following stocks made announcements that could affect their trading when the market opens on Friday (Nov 10):
Yangzijiang Shipbuilding: Higher turnover lifted earnings by more than three times in the third quarter. The Chinese shipbuilder reported a net profit of 866 million yuan (S$177.5 million) for the three months ended Sept 30 - a 208 per cent increase on the 281.2 million yuan in the same period a year ago. Revenue rose 13 per cent to 4.38 billion yuan, as it delivered nine vessels during the quarter, compared with eight previously.
Ho Bee Land: Property Group Ho Bee Land recorded a 103.5 per cent jump in third-quarter net profit to S$54.4 million, as profit from its Chinese projects help to lift the bottom line. Its share of profits from associates surged 525 per cent to S$28.7 million, contributed mainly from its joint venture project in Shanghai, China.
Hyflux: The weak Singapore power market and the Tuaspring Integrated Water and Power Plant, which is classified as held for sale, sent Hyflux into the red. The water infrastructure specialist recorded a net loss of S$26.1 million, from a net profit of S$10.3 million in the previous year. Revenue in the quarter plummeted 60.6 per cent to S$98 million from the year-ago period.
Banyan Tree: Resort operator Banyan Tree swung into the black with a profit of S$20.07 million for the third quarter ended Sept 30, compared to a loss of S$10.81 million a year ago. This was due to to higher other income and higher operating profit from the property sales segment, the company said. Revenue was 9 per cent higher at S$68.29 million.
KOP: Property group KOP sank into the red with a loss of S$2.91 million for the second quarter ended Sept 30 from a net profit of S$369,000 a year ago, weighed down by higher cost of sales and administrative expenses. Revenue grew 48 per cent to S$5.29 million.
It has also entered into a loan agreement with businessman Sam Goi, its controlling shareholder, for a S$45 million loan, which is convertible into ordinary shares if the loan is not repaid.
Vard Holdings: Norwegian shipbuilder Vard Holdings on Friday reported a loss of 8 million Norwegian kroner (S$1.34 million) for the third quarter, a big improvement of 90 per cent from a loss of 80 million kroner in the year-ago period. Revenue for the three months to Sept 30, 2017, rose 33 per cent to 2.01 billion kroner from 1.50 billion in the corresponding period last year from more work at its yards in Romania and Vietnam.
Sembcorp Marine: Singapore rigbuilder Sembcorp Marine (SembMarine) expects to clinch an engineering, procurement and construction contract estimated at US$490 million from Norwegian oil group Statoil Petroleum.
The two parties have signed a letter of intent after SembMarine was selected through a tender process. The actual awarding of the contract has yet to take place.
