[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Aug 29):
Olam: The food and agri-business conglomerate announced on Thursday that it will shut down Jiva Ag, a digital farmer services platform developed by the group’s venture arm, Nupo Ventures. This will affect a total of 606 employees – eight are from Singapore. Of those remaining, 531 are from Indonesia, 66 from India and one is from Australia. Shares of Olam closed Thursday unchanged at S$1.02.
GuocoLand: The property developer on Thursday reported a 48 per cent decline in net profit to S$32.4 million for its half year ended Jun 30, from S$62.4 million in the same period a year before. This comes despite a 20.3 per cent rise in revenue to S$906.3 million for its H2 period, from S$753.3 million. The mainboard-listed company said this was due to losses in China offsetting growth in Singapore. Shares of GuocoLand closed Thursday flat at S$1.88, before the announcement.
Civmec: The integrated heavy engineering, construction and maintenance service provider on Thursday posted a 50.7 per cent drop in net profit to A$16 million (S$13.4 million) for its six months ended Jun 30, from A$32.5 million in the same year-ago period. The mainboard-listed group said its performance was due to reduced activity levels following the completion of several major contracts. It recorded a 43.1 per cent fall in revenue to A$307.7 million for the second half of its financial year as well, from A$541.1 million in H2 FY2024. A final dividend of A$0.035 per share was declared for the period, unchanged from the year prior. Shares of Civmec closed Thursday at S$0.945, up S$0.005 or 0.5 per cent, before the news.
mm2 Asia: The owner of Cathay Cineplexes widened its net loss in the second half of its fiscal year ended Mar 31 by over 10 times to S$101.3 million from S$8.7 million in the corresponding period a year before. This was largely driven by a fewer number of completed projects in the concert and event and cinema business versus the previous financial year, the group said in a Thursday bourse filing. Revenue however rose 21 per cent for the six months to S$79.7 million from S$65.9 million in the same year-ago period. Shares of mm2 Asia closed Thursday at S$0.005, up S$0.001 or 25 per cent, before the announcement.
Aims Apac Reit: The industrial and logistics Reit is proposing to acquire an industrial property at 2 Aljunied Avenue 1 for around S$56.65 million. Comprising two buildings, the property has a total land area of 7,481.7 square metres (sq m), a total net lettable area of 16,082.4 sq m and a gross floor area of 18,662.13 sq m. Russell Ng, chief executive of the manager, said on Friday that its acquisition is a “strategic addition” to the Reit’s portfolio, offering “immediate distribution per unit accretion for unitholders”. Units of Aims Apac Reit closed flat at S$1.35 on Thursday.
Shangri-La Asia: The hotel group posted a net profit of US$57.9 million for the first half ended Jun 30, 2025, down 38.7 per cent from US$94.5 million in the year-ago period. Revenue climbed marginally by 0.7 per cent to US$1.06 billion, from US$1.05 billion previously. The counter ended Thursday 2.6 per cent or HK$0.13 lower at HK$4.86.
