Stocks to watch: PropNex, Ho Bee Land, SATS, Hong Leong Finance, Sheng Siong

THE following companies saw new developments that may affect trading of their securities on Thursday (Feb 24):

PropNex: OYY : OYY 0% The mainboard-listed real estate agency posted net profit of S$14.3 million for the 3 months ended Dec 31, 2021, up 90.5 per cent year on year from S$7.5 million. In its financial statement on Thursday, its board also proposed a final dividend of S$0.07 per share, its highest final dividend since listing. Shares of PropNex closed at S$1.820, up 4 per cent or S$0.07, on Wednesday.

Ho Bee Land: H13 : H13 0% The real estate developer is acquiring a freehold interest in The Scalpel, a commercial skyscraper in London, for £718 million (S$1.3 billion). In its announcement on Thursday, Ho Bee Land said it intends to hold the property for the purposes of long-term investment. Shares of the group ended flat at S$2.80 on Feb 22 before it called for a halt on Wednesday morning. The counter resumes trading on Thursday morning.

mm2 Asia: 1B0 : 1B0 0%The entertainment company on Wednesday announced that it plans to place out S$19.5 million in new shares to 2 investors. A total of 390 million new shares will be sold at S$0.05 apiece to Goi Seng Hui and Oei Hong Leong. The placement shares represent 14.4 per cent of the enlarged share capital of the company. Shares of mm2 Asia ended Wednesday at S$0.055, down S$0.002 or 3.5 per cent, before the announcement. 

SATS: S58 The mainboard-listed inflight caterer and ground handler reported on Wednesday earnings of S$5.1 million for the third quarter, reversing a S$2.8 million loss from a year ago. Earnings per share stood at S$0.005, up from a loss per share of S$0.002 in the corresponding year-ago period. In a separate announcement on Thursday, SATS said it will acquire an additional 16.4 per cent stake in Asia Airfreight Terminal Company for a total sum of HK$339.5 million (S$58.6 million). Shares of the company closed down 0.7 per cent or S$0.03 at S$4.18 on Wednesday before both announcements were made.

Hong Leong Finance: S41 The finance company on Wednesday posted a net profit of S$40.1 million for the 6 months ended December 2021, up 46.5 per cent from a net profit of S$24.7 million in the year-ago period. The board is recommending a final dividend of S$0.0825 per share, higher than the final dividend of S$0.055 in FY2020. Shares of Hong Leong Finance closed flat at S$2.54 on Wednesday before the announcement.

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Sheng Siong: OV8 The supermarket operator announced on Wednesday that earnings for the second half of the fiscal year ended December 2021 rose 4.8 per cent to S$66.9 million, up from S$63.8 million in the corresponding year-ago period. However, due to a drop in revenue, net profit for the full year was down 4.2 per cent to S$132.8 million. Total cash dividends for FY2021 stood at S$0.065 per share, down S$0.003 from the previous year. Shares of Sheng Siong ended flat at S$1.52 on Wednesday before the earnings results.

Nanofilm Technologies: MZH The mainboard-listed optical products company on Wednesday posted an increase in net profit by 13.2 per cent to S$44.3 million for the half-year ended Dec 31, 2021, up from S$39.2 million in the year before. The company has recommended a dividend of S$0.01 per ordinary share, bringing the total dividends for FY2021 to S$0.02. Shares of Nanofilm closed at S$2.87, up 1.4 per cent or S$0.04 on Wednesday before the financial statement was released.

SBS Transit: S61 The transport operator posted a 67.3 per cent fall in net profit to S$15.2 million for the 6 months ended Dec 31, 2021, down from the S$46.4 million posted in the year ago period. The company on Wednesday noted that it only stayed in the black due to government reliefs amounting to S$21.7 million. Shares of SBS Transit ended up 1 per cent or S$0.03 at S$3 on Wednesday before the announcement.

EC World Reit: BWCU The real estate investment trust (Reit) on Wednesday announced a distribution per unit (DPU) of S$0.01537 for the fourth quarter ended December, up 7.7 per cent from a DPU of S$0.01427 in the year-ago period. For the full year, the Reit posted a DPU of S$0.06263, up 16.9 per cent from a year ago. Units of EC World closed unchanged at S$0.755 on Wednesday before the results were announced.