Stocks to watch: Great Eastern, FCT, Yangzijiang Financial, PropNex, EC World Reit
THE following companies saw new developments that may affect trading of their securities on Tuesday (Feb 25).
Great Eastern: The insurance provider on Tuesday reported a net profit of S$134.8 million for the fourth quarter ended Dec 31, down 14 per cent from S$157.2 million in the previous corresponding period. Total weighted new sales in Q4 fell 16 per cent to S$432.7 million from S$514.1 million, amid lower single premium sales in the Singapore market. The board has proposed a final dividend of S$0.45 per share, which will be payable on May 6, following the record date of Apr 21. Shares of Great Eastern have been suspended from trading since July.
Frasers Centrepoint Trust (FCT): The trust is offering S$80 million in fixed-rate green notes due 2032 at 3.3 per cent. They will be issued on Mar 3 under the real estate investment trust’s S$3 billion multicurrency debt issuance programme. The notes, part of Series 002, will be issued in bearer form and in denominations of S$250,000 each. Units of FCT closed up 0.48 per cent or S$0.01 at S$2.08 on Monday.
Yangzijiang Financial: The investment management firm Yangzijiang Financial reported a net profit of S$197.3 million in the second half ended Dec 31, 2024, an increase of about four times from S$39.3 million a year ago. Its second-half revenue came in at S$164.9 million, up 16 per cent from S$142.3 million. Earnings per share stood at S$0.0562, compared with S$0.0108 in the year-ago period.The group’s topline growth came from higher contributions from its fund investment and cash management businesses.Shares of Yangzijiang Financial closed flat at S$0.565 on Monday.
PropNex: The real estate agency reported a 14.9 per cent fall in net profit for its second half ended Dec 31, 2024, to S$21.9 million from S$25.8 million in the previous corresponding period. Its revenue was down 7.7 per cent at S$437.4 million from S$473.8 million previously, the company said in its Tuesday financial results release. The board proposed a final dividend of S$0.03 per share alongside a special dividend of S$0.025 per share, payable on May 8 after book closure on Apr 28. Shares of PropNex closed Monday flat at S$1.13 before the results were announced.
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