OCBC, Jumbo, Hyflux, Old Chang Kee, Metro

OCBC, Jumbo, Hyflux, Old Chang Kee, Metro

By: 
PC Lee
14/02/17, 08:55 am

SINGAPORE (Feb 14): Here are some stocks that could move the market this Tuesday morning.

Oversea-Chinese Banking Corporation reported a 18% fall in earnings to $789 million for the 4Q16 ended Dec from a year ago as net interest income fell 7% to $1.25 billion on lower net interest margin from the continued compression in customer loan yields. OCBC closed at $9.75 on Monday.

See OCBC reports 18% fall in 4Q earnings to $789 mil

Jumbo Group has announced earnings of $2.6 million for the first quarter ended Dec 31, up 26.1% from $2.1 million a year ago on higher revenue. Revenue rose 5.8% to $32.7 million from $30.9 million. Shares of Jumbo closed 1 cent lower at 72 cents on Monday.

See Jumbo announces 26.1% rise in 1Q earnings to $2.6 mil on higher revenue

Hyflux subsidiary Hydrochem Saudi Limited has signed an MOU to develop three seawater reverse osmosis desalination plants in Saudi Arabia. The desalination plants are valued at a combined estimate of $260 million. Hyflux closed at 58 cents on Monday.

See Hyflux unit signs MOU to develop 3 desalination plants in Saudi Arabia worth $260 mil

Old Chang Kee posted a 11.1% rise in 3Q earnings to $1.4 million from $1.2 million a year ago on higher sales. Revenue for the three months ended Dec rose 7.5% to $20.3 million from a year ago. Share of Old Chang Kee closed 1 cent higher at 84 cents.

See Old Chang Kee posts 11.1% rise in 3Q earnings to $1.4 mil on higher sales

Metro Holdings posted earnings of $20.5 million for 3Q17, a 63.3% decline from 3Q16. This was largely due to a $48.9 million decrease in share of results of associates from lower sales recognition on handover of properties for the group’s Nanchang project. Shares of Metro closed at $1.16 on Monday.

See Metro 3Q earnings fall 63.3% to $20.5 mil on lower profits from associates

Markets
Wall Street stocks sprinted to another day of fresh records Monday, extending last week's rally on expectations President Donald Trump will soon present his promised tax cut plan. The Dow Jones Industrial Average climbed 0.7% to close the day at 20,412.16. The broad-based S&P 500 gained 0.5% to end 2,328.25, as did the tech-rich Nasdaq Composite Index up 0.5% to 5,763.96.

The Straits Times Index finished Tuesday up 11.24 points or 0.4% at 3,111.63. Some 3.26 billion shares worth $1.33 billion were done with 305 counters advancing and 203 in retreat.

UnUsUaL reports 32% higher FY19 earnings of $13.2 mil on improved revenue & margins

SINGAPORE (May 27): UnUsUaL Limited has reported $13.2 million in net profit for the FY19 ended March, representing a 32% increase from FY18 net profit of $10 million due to higher revenue and improved margins. Revenue for the full year rose 22.6% to $56.9 million compared to $46.4 million a year ago. The topline growth was mainly attributed to higher revenue contributions from the company’s Promotion and Others segments. In line with the higher revenue, gross profit grew by $5.1 million to $23 million for the full year, while operating expenses increased 16.6% to $6.9 million. G....
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Bukit Sembawang sinks into the red with 4Q losses of $11.6 mil on one-off impairment, allowance

SINGAPORE (May 27): Bukit Sembawang Estates sank into the red with losses of $11.6 million for the 4Q18/19 ended March, compared to earnings of $22.0 million a year ago. This represented losses per share of 4.46 cents for 4Q18/19, compared to earnings per share of 8.48 cents in 4Q17/18. This was mainly attributable to a surge in other operating expenses to $22.0 million during the current quarter, from $1.5 million a year ago. The increase was mainly due to impairment loss of $9.7 million on property, plant and equipment relating to Fraser Residence Orchard, Singapore, and allowance o....
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CapitaLand Mall Trust upgraded to 'buy' by UOB on Jurong Lake District plans, Funan launch

SINGAPORE (May 27): CapitaLand Mall Trust will benefit from the development of Jurong Lake District (JLD) as it has three retail malls located within Jurong Gateway, says UOB KayHian. See: CapitaLand Mall Trust declares 3.6% higher DPU of 2.88 cents on higher income IMM Building, JCube and Westgate, which in total accounts for 20% of CMT’s portfolio valuation, are located within Jurong Gateway and adjacent to Jurong East MRT station. Meanwhile, Funan, which is about 90% pre-committed for retail space and 98% pre-committed for office space, is scheduled to open next month. See als....
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