Technology stocks were sold off, coupled with market concerns about escalating tariff risks, U.S. stocks plummeted overnight. The S&P 500 fell 1.59% on Thursday (February 27), the Nasdaq fell 2.78% and the Dow Jones Industrial Average fell 0.45%.

The Singapore Straits Times index rose slightly by 13.14 points or 0.34% on Thursday, closing at 3921.19 points.

The following are stocks to watch on Friday (28th):

1. The second and full-year results of 2024 released before the opening of the market showed that the distributable income in the second half of the year decreased by 10% year-on-year to 16.41 million yuan, net real estate income increased by 2.1% year-on-year to 22.66 million yuan, and total revenue increased by 2% year-on-year to 29.52 million yuan. In 2024, trust distributable income fell 7.8% year-on-year to 33.52 million yuan, net real estate income fell 3.2% year-on-year to 43.89 million yuan, and total revenue fell 4.6% year-on-year to 57.1 million yuan.

The board of directors recommends paying an annual dividend of 2.34 cents per share, a decrease of 10.3% from 2.61 cents a year ago. The dividend for the full year of 2024 was 4.79 points, an 8.2% decrease from 5.22 points in 2023.

Further reading

Yangtze River Shipping Industry plummeted, but most constituent stocks rose

Yangtze River Shipping Industry plummeted, but most constituent stocks rose

2. The second and full-year results of 2024 released before the opening of the market showed that the group's net profit in the second half of the year rose by 91.9% year-on-year to US$141.85 million (about S$191.19 million), and its revenue increased by 9.4% year-on-year to US$581.54 million. For the whole year, the group's net profit increased by 69.1% year-on-year to US$245.79 million, and its revenue increased by 5.4% year-on-year to US$1 billion. Full-year performance growth was driven mainly by record production and higher average sales prices.

The board of directors proposes to pay an annual dividend of 6.3 cents per share, bringing the total annual ordinary dividend to 9.8 cents per share, with the total dividend equivalent to 50% of the group's basic net profit.

3. Avarga released its results showing that it achieved a net profit of 6.42 million yuan in the second half of the year, with a net loss of 8.03 million yuan in the same period in 2023; revenue in the second half of the year was 791.23 million yuan, a year-on-year decline of 5%. In 2024, the group's net profit increased by 116% year-on-year to 23.56 million yuan, and its revenue fell by 4% year-on-year to 1.619.62 million yuan.

4. Before the opening of the market, Lendlease Global Commercial REIT management company disclosed that it had raised the rent of its Jem office building by about 13% from December 2024, and the new rent will last for five years. The Jem office building has been leased to the Singapore National Development Department, and the lease will last until 2044, and the rent review will be conducted every five years.

5. ComfortDelGro released its results after the market closed on Thursday. The group's net profit in the second half of fiscal year 2024 increased by 12.9% year-on-year to RMB 115.2 million, and its revenue increased by 16.9% to RMB 2.359 million. Both existing businesses and newly acquired businesses achieved growth.

The board of directors recommends paying an annual dividend of 4.25 cents per share on May 14, up from 3.76 cents per share in the same period a year ago. The deadline for stock registration is May 6.

6. Local contractor Alpina Holdings released its results after the market closed on Thursday, achieving revenue of 44.01 million yuan in the second half of last year, an increase of 14% year-on-year; net profit reached 1.642,000 yuan, reversing the loss of 369,000 yuan in the same period last year.

The group's annual revenue in 2024 reached 88.16 million yuan, an increase of 37.3% compared with 64.16 million yuan in the same period last year. The net profit of 2.46 million yuan was achieved for the whole year, while the net loss of 225,000 yuan was reported in the same period last year. The board of directors recommends paying a new year-end dividend of 0.1899 per share.

7. China Aviation Oil's net profit in the second half of fiscal year 2024 fell 8.09% year-on-year to US$36 million, and its revenue fell 2.08% to US$7.983 million. Its net profit rose 33.13% to $78.4 million for the full year, and its revenue increased 7.55% to $15.518.5 million. The board of directors recommends paying a year-end dividend of S$3.72 per share.