Stocks to watch: AEM, ST Engineering, Seatrium, CDG, Golden Agri, Ho Bee Land, Food Empire, NTT DC Reit

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[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Nov 13):

AEM : The test solutions provider posted a S$4 million profit for the nine months ended Sep 30, reversing its year-ago loss. This was due to a more favourable product mix, with higher contributions from advanced test solutions, the company said. Its 9M revenue rose 16 per cent to S$287.5 million. AEM shares ended Wednesday at S$1.80, up S$0.01 or 0.6 per cent.

ST Engineering : The group’s revenue rose 9 per cent year on year to S$9.1 billion for the nine months ended Sep 30, on the back of strong performances across all its three business segments, and despite an impairment of S$667 million. The group is also proposing a S$0.05 per share special dividend for shareholders, given the cash proceeds from recent divestments. Shares of ST Engineering closed on Wednesday S$0.05 or 0.6 per cent higher at S$8.29 before the announcement.

Seatrium : The offshore, marine and energy specialist reported that its net order book stood at S$16.6 billion as at end-September, comprising 24 projects with deliveries extending through 2031. New orders were mostly from returning customers, as well as a series of repairs and upgrades projects. The group’s net order book stood at S$18.6 billion as at end-June. Shares of Seatrium closed 0.5 per cent or S$0.01 higher at S$2.16 on Wednesday.

ComfortDelGro (CDG) : The transport operator posted a net profit of S$70.4 million for the third quarter ended September, a 22.4 per cent increase year on year. This was driven by the performance of its UK public transport business. The company enjoyed contract renewals for its London public transport business at improved margins, and added new public transport contracts in Manchester from January. CDG shares ended Wednesday at S$1.48, up S$0.01 or 0.7 per cent.

Golden Agri-Resources (GAR) : The palm oil producer posted a 17 per cent quarter-on-quarter rise in net profit for the third quarter ended Sep 30 to US$124 million, from US$106 million. the company attributed its performance to improved plantation output and a 17 per cent rise in crude palm oil prices. Shares of GAR closed flat at S$0.28 on Wednesday.

Ho Bee Land : The mainboard-listed property player has acquired five residential development sites in Australia for A$96.6 million (S$82.3 million), in line with its aim to develop master-planned communities in Queensland and Victoria. The sites are expected to yield around 1,079 residential lots, the group said. The developments will be financed by the group’s internal funds and bank borrowings. The counter closed Wednesday flat at S$2.23.

Food Empire : The group’s revenue rose 28.3 per cent year on year to US$152.6 million for the third quarter ended Sep 30. It attributed the rise to strong growth across its segments in Europe, specifically Russia, Ukraine, Kazakhstan and the Commonwealth of Independent States. Revenue from Russia in Q3 increased 48.8 per cent year on year. Revenue from the Ukraine, Kazakhstan and CIS segment rose by 39.2 per cent. Shares of Food Empire rose 0.4 per cent or S$0.01 to close at S$2.35 on Wednesday, before the news.

NTT DC Reit: The real estate investment trust reported a distribution per unit (DPU) of US$0.0169 for the first half of its financial year in its first financial result since listing on the Singapore Exchange in July. The H1 DPU was 3.3 per cent higher than the Reit’s forecast of US$0.0164. The Reit’s gross revenue for the half-year stood at US$49.5 million, 1.8 per cent higher than the forecast. Units of the Reit ended Wednesday flat at US$1.01.