This article was originally published on Friday, 3 May 2019 at 12:09 A.M. SGT; it has since been updated to include UOB, Sembcorp Marine, Great Eastern, Frasers Property and Manulife US REIT.
These are Singapore companies which may be in focus on Friday, 3 May 2019:
UOB reported Friday its first quarter net profit increased 8 percent on-year to S$1.05 billion as strong loan growth of 12 percent offset a drop in its net interest margin.
Sembcorp Marine reported Friday its first quarter net profit dropped 68 percent on-year to S$2 million amid higher year-ago rig deliveries and a lack of large-scale offshore platform contracts recognized in the period.
Great Eastern reported Friday its first quarter net profit jumped 124 percent on-year to S$342.7 million on higher valuations of investments amid “strong financial market conditions.”
Frasers Property reported Friday its fiscal second quarter net profit rose 8.3 percent on-year to S$120.5 million amid higher revenue from sales at residential projects in Australia and amid an increase from recurring income assets.
ARA US Hospitality Trust
ARA Asset Management registered a prospectus with the Monetary Authority of Singapore to list ARA US Hospitality Trust on the Singapore Exchange in an offering expected to raise gross proceeds of US$498 million, the fund manager said in a filing to SGX Thursday.
OUE Hospitality Trust
OUE Hospitality Trust reported Thursday its first quarter net property income fell 2.2 percent on-year to S$27.7 million amid lower hospitality income and higher interest expenses.
Manulife US REIT
Manulife US REIT said Friday it entered a loan agreement with five lenders for a total of up to US$193 million, including a US$110 term loan facility to refinance an existing loan on a California property.
The agreement also included a US$33 million term loan facility to partly finance or refinance loans for a Virginia office building acquisition, Manulife US REIT said in a filing to SGX before the market open. The deal also included a US$50 million revolving loan facility for general corporate and working capital purposes, it said.
The filing said the lenders were Bank of China’s Singapore branch, BNS Asia, DBS Bank, OCBC and Standard Chartered Bank’s Singapore branch.
Singapore Press Holdings
Singapore Press Holdings said Thursday it was updating its S$1 billion multicurrency medium term note program to be a debt issuance program to allow the company to issue notes in registered form and perpetual securities.
OCBC and DBS will act as arrangers and dealers of the updated program, SPH said in a filing to SGX.
Contract manufacturer Hi-P International reported Thursday its first quarter net profit rose 5.8 percent on-year to S$10.7 million despite pricing pressures and a shift toward a lower-margin product mix, amid a smaller foreign exchange loss.
Great Eastern Holdings
Great Eastern Holdings completed Thursday its acquisition of 95 percent of PT QBE General Insurance Indonesia for US$29.9 million, or around S$40.8 million, the insurer said in a filing to SGX.
The remaining 5 percent of QBE Indonesia will be held by PT Suryasono Sentosa, the filing said.
Frasers Hospitality, part of the Frasers Property Group, said Thursday it launched Fraser Suites Hamburg in the historic Oberfinanzdirektion building in the Roedingsmarkt area in Hamburg, Germany.
The Frasers Suites Hamburg, has 154 rooms, including suites, studios and one-bedroom apartments, Frasers Hospitality said in a filing to SGX.
Golden Agri-Resources sold all of its interest its Japan-based subsidiary Maizuru Green Initiatives GK for 1 million Japanese yen, or around US$8,980, it said in a filing to SGX after the market close Thursday.
Sino Grandness Food Industry
Sino Grandness Food Industry said Thursday it rolled out distribution of its products in around 1,400 convenience stores at petrol stations by operated by PetroChina and Sinopec in Guangdong and Guangxi provinces.
Huang Yupeng, chairman and CEO of Sino Grandness, said there was still “huge room to grow” as that marked less than 3 percent of PetroChina and Sinopec’s entire network.
The company, which produces own-branded juices, canned foods and snack foods, added its products are also now available in around 10,000 Meiyijia convenience stores and 150 Meiyiduo supermarkets.
F J Benjamin
Retail management player F J Benjamin reported Thursday its fiscal third quarter net profit fell 19 percent on-year to S$302,000 on lower foreign-exchange gains.