The following companies saw new developments that may affect trading of their securities on Tuesday (Feb 20):
Sembcorp Industries (U96): Singapore's Sembcorp Industries reported an 11% rise in full-year profit on Tuesday, as the utilities firm benefited from higher contributions from its gas and related services and renewables segments as well as acquisitions in China and India.
The company said its net profit after exceptional items for the year ended Dec. 31 came in at S$942 million ($699.70 million), compared with S$848 million reported last year.
The company, owned by Singapore's state investor Temasek Holdings, also proposed a final dividend of 8 Singapore cents, from 4 cents per ordinary share last year.
Singapore Exchange (S68): The Singapore Exchange (SGX) will issue S$300 million worth of notes under its S$1.5 billion multicurrency debt issuance programme, it said on Monday (Feb 19).
The notes, to be issued on Feb 26, 2024, will mature on Feb 26, 2027, and will bear interest at a rate of 3.45 per cent per annum, payable semi-annually in arrear.
The notes will be issued in denominations of S$250,000.
Gallant Venture (5IG), GHY Culture (XJB): Mainboard-Listed companies Gallant Venture and GHY Culture & Media on Monday (Feb 19) posted separate profit guidances for their full-year results.
Indonesia-focused utilities provider Gallant Venture said that upon preliminary review of the group’s draft financial performance for the full year ended Dec 31, 2023, it expects to report a net loss.
This is mainly due to higher finance costs and lower profit contributions from associated companies, the company said in a bourse filing.
Meanwhile, concert organiser GHY Culture & Media also anticipates a net loss for the financial year ended Dec 31.
The net loss is attributed to foreign exchange losses due to the Singapore dollar appreciating against the yuan, which arose as the group’s intercompany balances of its “significant” Chinese operations are denominated in Singapore dollar.
The loss was also attributed to the recognition of credit loss allowance, said GHY Culture & Media in its filing.
Dasin Retail Trust (CEDU): The trustee-manager of Dasin Retail Trust has received a winding-up application filed by Zhang Guiming, the nephew of a non-executive director on Dasin Retail Trust’s board.
While Zhang informed the trustee-manager on Feb 18 that it was filed the previous day, the letter is deemed to have been served on Feb 20 as it was received on Feb 19 past 5 pm, said the trustee-manager on Tuesday (Feb 20).
It is seeking legal advice regarding the winding-up application and intends to dispute Zhang’s claims.
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