Golden Agri-Resources Ltd Leads the Market Lower for the Week

The Straits Times Index  (SGX: ^STI) slipped 0.2% this week to close at 3,426 points. Of the 30 index components, 17 made losses for the week, 12 logged some gains while one – Singapore Exchange Limited (SGX: S68) – ended the week flat.

The blue chip that lost the most ground was palm oil and oilseeds outfit Golden Agri-Resources Ltd (SGX: E5H). It slumped by some 5% to S$0.43. On 27 February 2015, the palm-oil producer will be announcing its financial results for the full year ended 31 December 2014.

Golden Agri-Resources’ results for the first nine months of 2014 have not been ideal to say the least. Despite seeing its revenue for the period jump by nearly 24% to US$5.8 billion, its profit has dropped by 28% to US$135 million mainly due to tougher competition. It’d be interesting to see if the company’s business has improved in the final quarter of 2014.

Meanwhile, on the other end of the winners-losers spectrum, another commodity company, Noble Group Limited (SGX: N21), was the best weekly performer in the Straits Times Index. Noble’s shares gained 4.3% to end the week at S$1.205. The company had mentioned that tentatively, it will be announcing its full year financial results on 26 February 2015.

Unlike Golden Agri, Noble’s business for the first nine months of 2014 have been relatively much stronger. A 4% uptick in revenue for the period for Noble has led to a small 3% decline in profit from continuing operations. We’d soon know how Noble has done in the final quarter of 2014.

Focusing our attention now away from the big boys, Lippo Malls Indonesia Retail Trust (SGX: D51U) came down 2.8% to S$0.35 for the week. It announced its fourth quarter results on Thursday and saw gross rental income and net property income for the quarter increase by 9% and 5.7% respectively year-on-year.

The REIT, which owns mainly retail properties in Indonesia, enjoyed a 26.8% increase in distribution per unit (DPU) for the quarter. Unfortunately, significantly lower distributions in the earlier part of 2014 resulted in a 15.1% decline in Lippo Malls’ DPU for the whole of the year to 2.76 Singapore cents per unit.

Shares of iFast Corporation Ltd (SGX: AIY) increased 3.1% to S$1.345 after releasing full year results which had revenue increasing by 12.8% year-on-year to around S$78 million. Profit for the whole of 2014, at S$8.7 million, was actually 10% higher than in 2013 – this happened despite iFast having incurred one-off listing expenses of around S$2 million in 2014 due to its initial public offering (IPO) which took place in December that year.

The STI is now trading at 14 times its historical earnings.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.