Yeo Hiap Seng, Hong Leong Finance, Duty Free International, Advance SCT, Rowsley

Yeo Hiap Seng, Hong Leong Finance, Duty Free International, Advance SCT, Rowsley

By: 
PC Lee
27/04/17, 08:55 am

SINGAPORE (April 27): Here are some stocks to watch this Thursday morning:

F&B and property group Yeo Hiap Seng reported 1Q earnings of nearly $139 million compared to $6.5 million a year ago. This was mainly due to gain on disposal of investment in Super Group of $138.4 million. Shares of Yeo Hiap Seng closed at $1.37 on Wednesday before the announcement.

See: Yeo Hiap Seng posted 1Q earnings of nearly $139 mil on disposal gain

Hong Leong Finance saw 1Q earnings rise 13.2% to $16.5 million from a year ago partly due to a decline in staff costs and a reduction in other operating expenses. Shares of Hong Leong Finance closed 1 cent higher at $2.76.

See: Hong Leong Finance 1Q earnings up 13.2% to $16.5 mil

Duty Free International posted a 14.9% drop in earnings to RM17.8 million ($5.7 million) for the fourth quarter ended Feb 28, from RM20.9 million a year ago. Shares of Duty Free closed half a cent lower at 41.5 cents on Wednesday.

See: Duty Free International 4Q earnings down 15% to $5.7 mil

Advance SCT has posted earnings of $125,000 for the first quarter ended March 2017, reversing out of a net loss of $1.3 million a year ago. Revenue surged to $21.3 million in 1Q17, from $1.4 million a year ago. Shares of Advance SCT have been suspended from trading.

See: Advance SCT swings back to profitability in 1Q

Rowsley swung to a net loss of $1.6 million for 1Q17 ended March from a profit of $4.8 million last year. Shares of Rowsley closed at 9 cents on Wednesday before the announcement.

See: Rowsley swings to 1Q net loss of $1.6 mil on lower fair value gains

Markets
US stocks ticked lower on Wednesday following two sessions of strong gains as strong corporate earnings were offset by uncertainty over the feasibility of a proposed business tax cut. The Dow Jones Industrial Average fell 21.03 points, or 0.1%, to 20,975.09, the S&P 500 lost 1.16 points, or 0.05%, to 2,387.45 and the Nasdaq Composite dropped 0.27 point to 6,025.23.

Singapore stocks ended 0.3% higher on Wednesday, with the Straits Times Index moving up 9.83 points to 3,173.76. About 2.66 billion shares worth S$1.35 billion in total changed hands. Gainers outnumbered losers 260 to 204.

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