Singapore Stocks to Watch: Haw Par, Ho Bee Land, Bumitama Agri, Straits Trading, Gallant Venture

TigerNews SG02-27

The following companies saw new developments that may affect trading of their securities on Tuesday (Feb 27):

Haw Par: The mainboard-listed group’s net profit rose 58.1 per cent for the six months ended Dec 31, 2023, to S$112.4 million from S$71.1 million for the same period a year earlier. Revenue for H2 FY2023 was up 39.7 per cent to S$120.9 million from S$86.6 million, announced the group on Monday. Shares of Haw Par closed at S$9.76, down 0.1 per cent or S$0.01, before the announcement.

Ho Bee Land: The real estate developer reported a net loss of S$104.1 million for the six months ended Dec 31, 2023, reversing from a net profit of S$16 million in the second half of FY2022. The group said on Monday that net loss for the whole financial year stood at S$259.8 million, also reversing from a net profit of S$165.9 million in FY2022. Shares of Ho Bee Land closed at S$1.71, up S$0.01 or 0.6 per cent, before the announcement.

Bumitama Agri: The Indonesian palm oil producer posted a net profit of 1.26 trillion rupiah (S$108.4 million) for the second half ended Dec 31, 2023, 94.7 per cent higher than the same period a year earlier. The sales volume of palm products increased during the period, resulting in a rise in revenue, the group said on Tuesday. Its counter closed 0.8 per cent or S$0.005 lower at S$0.635 on Monday.

The Straits Trading Company: The group on Tuesday reported a net loss of S$43.5 million for the second half ended December 2023, narrowing from the prior year’s H2 net loss of S$121.8 million as its real estate segment posted a lower fair value loss from certain investment properties. Its hospitality segment also returned to profitability on the back of stronger operating performance, compared with a loss in the year-ago period. Shares of Straits Trading ended Monday S$0.01 or 0.6 per cent higher at S$1.61.

Gallant Venture: The industrial parks and resorts developer on Monday posted a net loss of S$16.1 million for the second half-year ended Dec 31, 2023, reversing from a net profit of S$3.2 million in the same period a year earlier. This was despite a 4 per cent increase in revenue for the half year to S$94.7 million from S$91.1 million. Shares of Gallant Venture closed flat at S$0.13, before the announcement.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment