Here are some stocks to watch this Tuesday morning.
Commodity trader Noble Group has warned that it will incur net losses for its fourth quarter and full year ended Dec 2015. This is due to a US$1.2 billion impairment hit, on top of losses recognised from the recent sale of joint venture Noble Agri. The non-cash impairments and adjustments were due to assumptions that coal prices will remain at lower levels for an extended period. Noble closed at 37 cents on Monday.
Keppel Corp reiterated its zero-tolerance stance against any form of illegal activity, including bribery and corruption, involving its employees or associates. The announcement comes after allegations were made by former Petrobras executive Pedro Jose Barusco that illegal payments were made by go-between Zwi Skornicki in connection with contracts entered into between certain Keppel entities with Petrobras and Sete Brasil. Keppel closed at $5.21.
Bumitama Agri's earnings rose 9.7% to IDR292.27 billion ($30.5 million) in the fourth quarter ended Dec 31, 2015, from IDR266.43 billion a year ago. This was despite the plantation group recording a 5.6% lower net profit after tax of IDR315 billion, due to lower selling prices for crude palm oil and palm kernel and higher cost of sales. Bumitama ended on Monday at 76.5 cents.
Petra Foods' 4Q earnings fell 93.5% to US$800,000 ($1.1 million) amid a weaker Indonesian economy. Revenue shrank by 23.8% during the quarter to US$100 million. The company is planning a distribution of 9.82 US cents per share from excess cash. Petra closed at $2.39 on Monday.
Roxy-Pacific Holdings has posted a 73% drop in 4Q net earnings to $12.34 million. Revenue rose 19% to $81.39 million. However, cost of sales increased 38% to $61.49 million, resulting in a 17% contraction in gross profit to $19.90 million. The counter ended at 49 cents on Monday.
Yeo Hiap Seng posted a 7% increase in 4Q earnings to $14.25 million from a year ago. This was due mainly to $3.44 million in higher fair value gains on investment properties, partially offset by lower net profit from the F&B division of $1.21 million. Revenue for the three months ended Dec fell by about $4 million to $95.61 million. Yeo Hiap Seng closed at $1.30.
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Commodity trader Noble Group has warned that it will incur net losses for its fourth quarter and full year ended Dec 2015. This is due to a US$1.2 billion impairment hit, on top of losses recognised from the recent sale of joint venture Noble Agri. The non-cash impairments and adjustments were due to assumptions that coal prices will remain at lower levels for an extended period. Noble closed at 37 cents on Monday.
Keppel Corp reiterated its zero-tolerance stance against any form of illegal activity, including bribery and corruption, involving its employees or associates. The announcement comes after allegations were made by former Petrobras executive Pedro Jose Barusco that illegal payments were made by go-between Zwi Skornicki in connection with contracts entered into between certain Keppel entities with Petrobras and Sete Brasil. Keppel closed at $5.21.
Bumitama Agri's earnings rose 9.7% to IDR292.27 billion ($30.5 million) in the fourth quarter ended Dec 31, 2015, from IDR266.43 billion a year ago. This was despite the plantation group recording a 5.6% lower net profit after tax of IDR315 billion, due to lower selling prices for crude palm oil and palm kernel and higher cost of sales. Bumitama ended on Monday at 76.5 cents.
Petra Foods' 4Q earnings fell 93.5% to US$800,000 ($1.1 million) amid a weaker Indonesian economy. Revenue shrank by 23.8% during the quarter to US$100 million. The company is planning a distribution of 9.82 US cents per share from excess cash. Petra closed at $2.39 on Monday.
Roxy-Pacific Holdings has posted a 73% drop in 4Q net earnings to $12.34 million. Revenue rose 19% to $81.39 million. However, cost of sales increased 38% to $61.49 million, resulting in a 17% contraction in gross profit to $19.90 million. The counter ended at 49 cents on Monday.
Yeo Hiap Seng posted a 7% increase in 4Q earnings to $14.25 million from a year ago. This was due mainly to $3.44 million in higher fair value gains on investment properties, partially offset by lower net profit from the F&B division of $1.21 million. Revenue for the three months ended Dec fell by about $4 million to $95.61 million. Yeo Hiap Seng closed at $1.30.
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