Singapore stocks to watch Tuesday: M1, Ascott Residence Trust, CDL Hospitality, Yoma

Singapore street scene at Fullerton area with Marina Bay Sands; taken September 2018.Marina Bay Sands looms over Singapore’s Fullerton area.

These are Singapore stocks which may be in focus on Tuesday, 28 January 2019:

M1

Singapore telco M1 reported on Monday its fourth quarter net profit fell 21.4 percent on-year to S$25.2 million as expenses rose and margins fell.

Read more: Singapore telco M1 reports 4Q18 net profit fell 21 percent on higher expenses

Ascott Residence Trust

Ascott Residence Trust reported on Tuesday its fourth quarter gross profit rose 3 percent on-year to S$63.4 million, mainly on revenue from the Ascott Orchard Singapore, which was acquired in October 2017.

Read more: Ascott Residence Trust reports 4Q18 gross profit rose 3 percent on Singapore acquisition

CDL Hospitality Trusts

CDL Hospitality Trusts reported on Tuesday its fourth quarter net property income fell 5.4 percent on-year to S$38.41 million on the divestment of two Brisbane hotels in January 2018 and the closure of the Dhevanafushi Maldives Luxury Resort since June for renovations.

Read more: CDL Hospitality Trusts 4Q18 net property income fell more than 5 percent on divestments

Parkway Life REIT

Parkway Life REIT reported on Monday that its net property income for the fourth quarter rose 3.8 percent on-year to S$26.72 million on the revenue contribution from a Japan nursing rehabilitation facility acquired in February 2018.

Read more: Parkway Life REIT 4Q18 net property income up nearly 4 percent on Japan facility acquisition

Yoma Strategic

Yoma Strategic’s wholly owned subsidiary Yoma Agriculture established a 50:50 joint venture called Zuari Yoma Agri Solutions (ZYAS) with fertilizer company Paradeep Phosphates in Myanmar, it said in a filing to SGX after the market close on Monday.

ZYAS, which will have issued and paid-up share capital of US$25,000 comprising 25,000 shares, will engage in the trading, export and import of fertilizers, seeds and/or pesticides on a retail or wholesale basis, it said.

China Kunda Technology

China Kunda Technology reported on Monday it swung to a net loss of HK$286,000 (S$49,340) for its fiscal third quarter from a year-earlier net profit of HK$648,000 amid declining sales in its plastics business and start-up costs for its shift toward the furniture business.

Read more: China Kunda Technology swings to loss for fiscal 3Q as plastics sales decline

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