Stocks to watch: Valuetronics, Yoma, Memories Group, Accordia Golf, Raffles Infrastructure

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way. ST PHOTO: KELVIN CHNG

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Wednesday (May 29):

Valuetronics Holdings: The electronics manufacturing services firm's net profit declined 2.6 per cent to HK$199.5 million ($35.1 million) for the year ended March 31, amid mixed performance from its two business segments. This translates to an earnings per share of around 46.2 HK cents for FY2019, down from 48.1 HK cents for the previous year. It proposed a final dividend of 15 HK cents per share and a special dividend of five HK cents per share for FY2019. Valuetronics shares closed unchanged at 60.5 HK cents on Tuesday.

Yoma Strategic Holdings: The mainboard-listed company's fourth quarter net profit soared to US$25.7 million, almost 60 times its net profit of US$432,000 a year ago, mainly due to net fair value gains from investment properties. This was partially offset by a rise in financing costs from higher borrowings and the rising interest rate environment. Earnings per share stood at 1.36 US cents, up from 0.02 US cent a year ago. No dividend has been recommended for the quarter, unchanged from the previous year. Shares of the company last traded flat at $0.34 on Tuesday.

Memories Group: On the back of a one-off US$8.07 million gain from a bargain purchase, the Catalist-listed Myanmar-based tourism firm posted net profit attributable to shareholders of US$6.15 million for the fourth quarter ended March 31, 2019. This was more than 11 times the year-ago figure of US$556,000. Shares in the company closed unchanged at 7.4 cents on Tuesday.

Accordia Golf Trust: The trust on Tuesday posted a loss per unit of 20.71 cents for the fourth quarter ended March 31, widening from a loss per unit of 3.19 Singapore cents for the year-ago period. For the six months ended March 31, it has declared a distribution per unit (DPU) of 2.13 cents, down slightly from the DPU of 2.2 cents declared for the year-ago period. Its units closed down 0.5 cent or 0.81 per cent at 61.5 cents on Tuesday before the results release.

Raffles Infrastructure Holdings: Raffles Infrastructure on Tuesday flagged that it could be put on the Singapore Exchange's watch list. In a regulatory filing, it said it had recorded pre-tax losses for the three most recently completed consecutive financial years. Its shares closed unchanged at 43.5 cents on Tuesday before the announcement.

GP Industries: The mainboard-listed battery maker posted net profit of $2.33 million for the fourth quarter ended March 31, turning around from a $7 million loss in the year-ago period. GP Industries shares closed up 0.5 cent or 0.88 per cent at 57.5 cents on Tuesday.

Dyna-Mac Holdings: The offshore oil and gas contractor has received a contract from a new customer for a provision sum of $4 million. The contract is for the fabrication of corrosion-resistance alloy pipe spools for the central processing facility of an offshore gas field. Dyna-Mac shares closed down 0.1 cent or 0.94 per cent at 10.5 cents on Tuesday before the announcement.