Singapore stocks to watch Friday: City Developments, Genting Singapore, Sunpower, Dairy Farm

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These are Singapore stocks which may be in focus on Friday 9 November 2018:

City Developments

City Developments reported on Thursday that its net profit for the third quarter rose 10.4 percent on-year to S$161.8 million on strong contributions from property development in Singapore, China and Japan.

Read more: City Developments reports 3Q18 net profit rose 10 percent on property development segment

Genting Singapore

Genting Singapore reported net profit for the third quarter rose 25 percent on-year to S$210.41 million amid a strong performance in its attractions business.

Read more: Genting Singapore reports 3Q18 net profit rose 25 percent on attractions business strength

Sunpower Group

Sunpower Group said late on Thursday that two substantial shareholders placed 14 million shares with a lender as collateral for a loan and said the shares were no longer in the depository broker account. Lender America 2030 Capital said the collateral was forfeited due to borrowers’ failure to pay the amounts owed to lender.

Read more: UPDATE: Sunpower: Substantial shareholders’ collateral shares appear to go missing

Dairy Farm

Dairy Farm International reported on Thursday that its third quarter results were mixed, with a strong performance in health and beauty offset by a softer food segment.

Read more: Dairy Farm reports mixed 3Q18 results amid soft food performance, stronger health and beauty segment

SATS

SATS reported on Thursday that its fiscal second quarter net profit fell 9 percent on-year to S$65.7 million on the absence of a S$7 million gain on disposal of assets held for sale in the year-ago period and on lower contributions from associates and joint ventures.

Read more: SATS reports fiscal 2Q net profit fell 9 percent on year-ago one-off gain

SIA Engineering

SIA Engineering reported on Thursday that its fiscal second quarter net profit fell 1.6 percent on-year to S$38 million ami lower revenue from airframe and fleet management.

Read more: SIA Engineering reports fiscal 2Q net profit fell slightly amid lower airframe revenue

Frasers Property

Frasers Property reported on Friday that its fiscal full-year net profit rose 10.1 percent on-year to S$759.0 million on development project sales in Singapore and Australia and on contributions from the U.K. business parks and European assets.

Read more: Frasers Property reports fiscal full-year net profit rose 10 percent on development sales

Mapletree Logistics Trust

Mapletree Logistics Trust plans to acquire a logistics property in South Korea, Wonjin Logistics Centre, from Wonjin Logistics for 37.85 billion South Korean won, or around S$46.4 million, the trust manager said in a filing to SGX on Thursday.

Read more: Mapletree Logistics Trust to acquire South Korea logistics property

UOL

UOL clarified on Thursday that it was in confidential discussions to acquire an office property in Sydney, Australia, after a media report said it was a done deal.

Read more: UOL clarifies it’s in talks to acquire Sydney office property

SBS Transit

Bus operator SBS Transit reported on Thursday that its third quarter net profit jumped  77.5 percent on-year to S$19.72 million as the Seletar bus package began operations.

Read more: SBS Transit reports 3Q18 net profit jumps 78 percent as Seletar bus package begins

Hyflux

Hyflux said on Thursday that it obtained Maybank’s approval to further extend the deadline to execute a binding agreement with a successful bidder or investor through 29 November. That’s provided the terms of the agreement with Maybank continue to apply, it said, noting those terms including Maybank’s right to terminate the collaboration agreement if the new deadline is breached.

Noble Group

Noble Group said on Friday that the scheme meetings held on Thursday resulted in the English Scheme and the Bermuda Scheme of its restructuring plan each passed with the approval of the required majority of each class of creditors.

Dyna-Mac Holdings

Dyna-Mac Holdings said on Thursday that it obtained a new order for fabrication services from a new customer for around S$3.3 million.

The project, which will begin immediately, will be fabricated and constructed at its Singapore yard, with completion expected by the fourth quarter of 2019, it said in a filing to SGX after the market close on Thursday.

 

 

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