Stocks to watch: Thai Beverage, Civmec, Singapore Exchange, iFast

THE following companies saw new developments that may affect trading of their securities on Friday (Feb 14): 

Thai Beverage (ThaiBev): The food and drink company’s revenue grew 2.4 per cent to 92.3 billion baht (S$3.7 billion) for the first quarter ended Dec 31, 2024, compared with the year-ago period. This was driven by improved sales in its beer, non-alcoholic beverages and food businesses that were offset by weaker performance of its spirits and other segments, the company said on Thursday in an update. Shares of ThaiBev finished down S$0.015 or 2.9 per cent at S$0.50 on Thursday. 

Civmec: The construction and engineering services company’s net profit for its first-half ended Dec 31, 2024, fell 16.9 per cent A$26.5 million (S$22.5 million) from A$31.9 million in the year-ago period. This was due to a lower gross margin and higher administrative expenses incurred during the period, said the company on Thursday. Its earnings per share fell to A$0.0521 from A$0.0629. The company declared an interim dividend of A$0.025 per share for the six-month period. Shares of Civmec fell 2.8 per cent or S$0.03 to close at S$1.05 on Thursday.

Singapore Exchange (SGX) and iFast: The bourse operator and digital bank and wealth management platform could benefit from positive sentiment from a new proposal by the Monetary Authority of Singapore to introduce tax incentives to spur listings and investments in the local equities market. The proposed tax incentives, announced on Thursday, aim to attract enterprises and fund managers to list in Singapore and to drive the launch and growth of funds with substantial investment in local equities. On Thursday, shares of SGX closed down 1.4 per cent or S$0.19 at S$13.47, while shares of iFast closed up 2.9 per cent or S$0.22 at S$7.87, before the announcement.