UPDATE: Singapore stocks to watch Thursday: ThaiBev, YZJ, Sembcorp, OUE, Accordia Golf, No Signboard
- 15 August 2019
This article was originally published on Thursday, 15 August 2019 at 1:03 A.M. SGT; it has since been updated to include ComfortDelGro, Golden Agri-Resources, OUE, OUE Hospitality Trust, OUE Commercial REIT, Sunpower Group, Uni-Asia Group and Spackman Entertainment.
These are Singapore companies which may be in focus on Thursday, 15 August 2019:
Thai Beverage reported Wednesday its fiscal third quarter net profit climbed 26 percent on-year to 7.66 billion baht (S$344.90 million or US$248.38 million) amid higher contributions from the food, beer and spirits segments.
Yangzijiang Shipbuilding’s Executive Chairman and controlling shareholder Ren Yuanlin has taken a leave of absence while he assists in a confidential investigation by certain Chinese governmental authorities, the Chinese shipbuilder said Wednesday.
Sembcorp Industries reported Wednesday its second quarter net profit rose 20 percent on-year to S$98 million, supported by the energy business.
OUE, OUE Hospitality Trust and OUE Commercial REIT
OUE Hospitality Trust and OUE Commercial REIT both said their unitholders approved plans to merge the two REITs in extraordinary general meetings Wednesday.
Both REITs and OUE requested the trading halt on their units be lifted Thursday.
Golden Agri Resources
Golden Agri Resources reported Wednesday its second quarter net loss widened to US$64.70 million, from a net loss of US$39.02 million in the year-ago quarter as palm oil prices dropped.
OUE Reef Development, an indirect wholly owned subsidiary of OUE, has entered a deal to sell the property at 26A Nassim Road in Singapore to Dr. Stephen Riady for S$95 million, OUE said in a filing to SGX Thursday.
The consideration is 10.1 percent higher than the average market value of the property, OUE siad.
Riady is the executive chairman and controlling shareholder of OUE with an around 68.65 percent deemed interest, the filing said.
The property has a land area of 3,182 square meters and has a Good Class Bungalow, which received a temporary occupation permit on 6 August, OUE said.
ComfortDelGro said Wednesday its chief financial officer, Choo Chek Siew, is retiring, effective 30 September, after serving in the role since 2003.
Derek Koh Thong Hean has been appointed acting CFO, the transport company said in a filing to SGX.
Koh was CFO at Miclyn Express from 2011-2019 and CFO at Rotary Engineering from 2009-2011, ComfortDelGro said.
Accordia Golf Trust
Accordia Golf Trust reported Wednesday its fiscal first quarter net profit fell 3.2 percent on-year 2.32 billion yen on higher interest and income tax expense.
Sunpower Group reported Wednesday its second quarter net profit, excluding the impact of its convertible bonds, jumped 106.3 percent to 52.48 million yuan (S$10.38 million or US$7.47 million) on increased contributions from the Green Investment (GI) business.
No Signboard Holdings
No Signboard Holdings said it would adopt a cautious stance by not launching new dining brands after shuttering its three Hawker QSR outlets after less than a year.
Spackman Entertainment reported Wednesday a second quarter net loss of US$1.53 million, 1 percent narrower than the US$1.55 million net loss in the year-ago quarter, as film production costs rose.
Uni-Asia Group reported Wednesday its second quarter net profit jumped 52 percent on-year to US$2.96 million on higher investment returns and hotel income.
Old Chang Kee
Old Chang Kee reported Wednesday its profit after tax dropped 52.6 percent on-year to S$593,000 on changes to accounting for leases and lower revenue.
Isetan Singapore reported Wednesday a second quarter net profit of S$40,000, swinging from a year-ago net loss of S$1.39 million as expenses fell.
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