UPDATE: Singapore stocks to watch Friday: Singapore Airlines, ThaiBev, StarHub, Creative, Old Chang Kee

Singapore Airlines plane on the ground at Singapore’s Changi Airport; taken November 2018.Singapore Airlines plane Changi Airport.

This article was originally published on Thursday, 14 February 2019, at 23:09 SGT; it has since been updated to add Cromwell European REIT.

These are Singapore companies which may be in focus on Friday, 15 February 2019:

Singapore Airlines

Singapore Airlines reported on Thursday its fiscal third quarter net profit fell 27 percent on-year to S$284.1 million as a sharp increase in fuel costs offset a rise in revenue. The results beat a forecast from Daiwa.

Read more: UPDATE: Singapore Airlines fiscal 3Q net profit falls 27 percent as higher fuel costs offset revenue rise

Thai Beverage

Thai Beverage reported on Thursday its fiscal first quarter net profit rose 35.5 percent on-year to 7.48 billion Thai baht (S$242.24 million or US$238.6 million), excluding non-recurring year-ago expenses, as revenue from the spirits, F&N/FPL and food businesses all increased.

Read more: UPDATE: Thai Beverage fiscal 1Q net profit rises 36 percent as spirits and food revenue increased

StarHub

Singapore telco StarHub reported on Thursday that its fourth quarter net profit dropped 61.8 percent on-year to S$19.8 million amid losses from the Ensign and D’Crypt businesses and lower mobile and pay TV revenue. The results beat a forecast from Daiwa.

Read more: UPDATE: StarHub reports 4Q18 net profit dropped 62 percent as mobile and pay TV revenue decline

Cromwell European REIT

Cromwell European REIT said on Friday it acquired a logistics property in Gennevilliers, France, from Challenger DPG France II SAS for 6.9 million euros (S$10.58 million or US$7.79 million).

Read more: Cromwell European REIT acquires French logistics property

Soilbuild Business Space REIT

Soilbuild Business Space REIT said on Thursday that it was informed third party has filed an application for tenant NK Ingredients, which is currently in default of its lease agreement, to be placed under judicial management with the High Court of Singapore.

Read more: Soilbuild REIT: NK Ingredients in default of lease agreement, seeking moratorium on creditors

Creative Technology

Creative Technology reported its fiscal second quarter net loss widened to US$4.92 million, from a US$4.23 million loss in the year-ago quarter as sales dropped.

Read more: Creative Technology reports fiscal 2Q net loss widened, guides for 3Q operating loss

Old Chang Kee

Iconic Singapore curry puff maker Old Chang Kee reported on Thursday its fiscal third quarter profit after tax increased 24.6 percent on year to S$1.54 million amid higher revenue from retail outlets.

Read more: Old Chang Kee reports fiscal 3Q profit rose 25 percent amid higher retail revenue

Thai Beverage

Thai Beverage said on Thursday it incorporated a new wholly owned subsidiary, C.A.I., in Thailand, in which it will hold 99.9996 percent and two shareholders will hold one share each.

The new entity will mainly be involved in the ASEAN Economic Community’s business, art and culture knowledge exchange, it said in a filing to SGX after the market close on Thursday.

C.A.I. has a registered capital of 5 million baht consisting of 500,000 shares valued at 10 baht each, it said.

Read more about Thai Beverage here.

 

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