UPDATE: Singapore stocks to watch Thursday: CapitaLand, SIA, SATS, Creative, Ho Bee Land, JUMBO

Raffles City Chongqing, under construction, with The Crystal skybridge above four 250-meter towers. Credit: CapitaLand.Raffles City Chongqing, under construction, with The Crystal skybridge above four 250-meter towers. Credit: CapitaLand.

This article was originally published on Wednesday, 1 May 2019 at 12:48 A.M. SGT; it has since been updated to include No Signboard Holdings, Procurri and Delong Holdings.

Singapore’s markets was closed on 1 May for the Labour Day holiday. These are Singapore companies which may be in focus on Thursday, 2 May 2019:

CapitaLand

CapitaLand reported Tuesday its first quarter net profit fell 7.4 percent on-year to S$295.57 million on lower trading income from residential projects in Singapore and China.

Read more: CapitaLand reports 1Q19 net profit fell 7 percent as Singapore, China residential income declined

Singapore Airlines and SATS

Singapore Airlines and SATS renewed their aviation services contracts for another five years in a move to strengthen the competitiveness of the Singapore hub, the two companies said in a filing to SGX Wednesday.

Read more: Singapore Airlines, SATS extend aviation services contracts for five years

Singapore Airlines

Singapore Airlines has used around S$148.4 million of the proceeds from its S$750 million 3.03 percent bonds due 2024 for the purchase of aircraft, the carrier said in an SGX filing Tuesday.

The balance of the gross proceeds remaining from the bond issue is S$476.6 million, which is also earmarked toward aircraft purchases and aircraft related payments, SIA said.

Read more about Singapore Airlines.

Lippo Malls Indonesia Retail Trust

LMIRT Management, the manager of Lippo Malls Indonesia Retail Trust (LMIRT) said Tuesday it tapped Liew Chee Seng James as its new CEO, with current CEO Gouw Vi Ven to step down, effective 1 May.

Read more: LMIR Trust’s manager taps new CEO as Gouw Vi Ven steps down

Frasers Hospitality Trust

Frasers Hospitality Trust reported Tuesday its fiscal second quarter net income fell 9.1 percent on-year to S$25.2 million on weaker performances from the Australia, Malaysia and Japan portfolios.

Read more: Frasers Hospitality Trust reports fiscal 2Q net property income fell 9 percent

Fraser and Neave

Fraser and Neave reported Tuesday its fiscal second quarter net profit excluding exceptional items jumped 138.5 percent on-year to S$35.87 million on higher soft drink and dairy sales.

Read more: Fraser and Neave reports fiscal 2Q net profit more than doubled

Ho Bee Land

Ho Bee Land reported Tuesday its first quarter net profit dropped 43.9 percent on-year to S$27.7 million amid lower revenue from property development.

Read more: Ho Bee Land reports 1Q19 net profit dropped 44 percent on lower property development revenue

Creative Technology

Creative Technology reported Tuesday a fiscal third quarter net profit of US$10.03 million, swinging from a year-earlier net loss of US$3.76 million, amid gains from a patent lawsuit settlement.

Read more: Creative Technology reports fiscal 3Q swung to a net profit

China Everbright Water

China Everbright Water obtained the Shandong Ji’nan East Station Area Underground Waste Water Treatment Project, which will require an investment of around 560 million yuan (around S$113.10 million), the company said Tuesday.

Read more: China Everbright Water obtains Shandong Province waste-water treatment project

No Signboard Holdings

Iconic chili crab restaurateur No Signboard Holdings said Thursday the Commercial Affairs Department (CAD) of the Singapore Police Force informed CEO Lim Yong Sim that he was placed on arrest and bail amid “reasonable suspicion” of securities violations.

Read more: No Signboard: CEO placed on arrest amid investigation of share buyback

Yoma Strategic

Yoma Strategic said Tuesday that Tokyo Century has completed the acquisition of a 20 percent stake in its subsidiary Yoma Fleet via subscription to newly issued shares.

Read more: Tokyo Century to take 20 percent stake in Yoma Fleet

JUMBO Group

JUMBO Group opened its second NG AH SIO Bak Kut Teh franchise outlet in Taipei City, Taiwan, in an agreement with franchisee Ho Sing Food, the iconic Singapore restaurateur said in a filing to SGX Tuesday.

Read more: JUMBO opens second NG AH SIO outlet in Taiwan

Delong Holdings

Delong Holdings warned Thursday it expected to report a lower net profit for the first quarter, compared with the year-ago period. That was mainly on lower average selling prices of products as well as a higher cost of sales per tonne, it said in a filing to SGX before the market open.

It added its results were due on 8 May.

Read more about Delong Holdings.

Tiong Seng Holdings

Tiong Seng Holdings said Tuesday its wholly owned subsidiary Chang De Investment and its effectively 66 percent-owned subsidiary Tianjin Zizhulin Investment acquired additional stakes of 1.87 percent and 1.33 percent respectively in Tianjin Zizhulin Guangang Property.

The stakes were acquired from a minority shareholder for a total 19.2 million yuan, or around S$3.9 million, Tiong Seng said in a filing to SGX.

After the acquisition, Tiong Seng’s effective stake in Guangang will rise to 72.3 percent from 69.5 percent, the filing said.

Read more about Tiong Seng.

Procurri Corp.

Procurri Corp. reported Thursday its first-quarter net profit rose 75 percent on-year to S$1.75 million  on higher-margin IT distribution deals in the quarter.

Read more: Procurri reports 1Q19 net profit rose 75 percent on higher-margin IT distribution deals

 

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