UPDATE: Singapore stocks to watch Friday: OCBC, Genting Singapore, SGX, SATS, OUE C-REIT

OCBC ATMs in SingaporeOCBC ATMs in Singapore

This article was originally published on Friday, 10 May 2019 at 1:27 A.M. SGT; it has since been updated to include OCBC. 

These are Singapore companies which may be in focus on Friday, 10 May 2019:

OCBC

OCBC reported Friday its first quarter net profit rose 11 percent on-year to S$1.23 billion amid strong income growth across the banking, wealth management and insurance franchise.

UOB KayHain had forecast net profit of S$1.12 billion, while Daiwa had forecast net profit of S$1.21 billion.

Read more: UPDATE: OCBC reports 1Q19 net profit rose 11 percent on growth in wealth management, banking

Genting Singapore

Genting Singapore reported Thursday its first-quarter net profit fell 5 percent on-year to S$205.47 million as gaming revenue declined.

Read more: Genting Singapore reports 1Q19 net profit fell 5 percent on lower gaming revenue

Singapore Exchange

Singapore Exchange reported Thursday its overall commodity derivatives volume jumped 64 percent on-year in April, amid upheaval in the iron-ore industry.

Read more: Singapore Exchange reports April derivatives volume surged on iron ore upheaval

SATS and PSA International

Port operator PSA International and SATS signed Thursday a memorandum of understanding to provide cargo owners and logistics service providers sea-air connectivity in a move to boost Singapore’s status as a multi-modal transport hub, the companies said in a filing to SGX.

Read more: SATS and PSA set deal to establish sea-air cargo connectivity

Jardine Matheson and Jardine Strategic

Jardine Matheson and Jardine Strategic both reported Thursday that they “performed steadily” in the first quarter, with overall earnings slightly ahead of the year-ago period.

Read more: Jardine Matheson and Jardine Strategic report 1Q19 earnings ‘slightly ahead’ on-year

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Ascendas Hospitality Trust

Ascendas Hospitality Trust reported Thursday its fiscal fourth quarter net property income rose 4.1 percent on-year to S$22.86 million on the full-quarter contribution of five hotels acquired the previous year and lower net finance costs.

Read more: Ascendas Hospitality Trust reports fiscal 4Q net property income rose 4 percent

OUE Commercial REIT

OUE Commercial REIT reported Thursday its first quarter net property income rose 23.5 percent on-year to S$43.6 million on the contribution from the office components of OUE Downtown, which were acquired in November.

Read more: OUE Commercial REIT reports 1Q19 net property income rose around 24 percent

ARA US Hospitality REIT

ARA US Hospitality Trust ended its first day of trade on the Singapore Exchange at US$0.88, flat with its offering price, after trading in a range of US$0.865 to US$0.88.

Read more: ARA US Hospitality Trust ends flat on debut

CapitaLand

CapitaLand said Thursday it has spend three months documenting the high-rise Pearl Bank Apartments ahead of its demolition for redevelopment, in a project including drone scans of the facade to 3-D laser scans of apartment types and common areas.

The company said in a filing to SGX it will also host a “guided photowalk” for Instagram users and architecture enthusiasts to see the interior of the building which was completed in 1976.

“Built during the early years of Singapore’s independence, Pearl Bank Apartments offered an innovative scheme to city living with its high-rise and high-density concept,” Ronald Tay, CEO of CapitaLand Singapore, Malaysia and Indonesia, said in the statement. “We have documented these approaches in digital format, which can be easily downloaded for academic study.”

Read more about CapitaLand.

Ascott Residence Trust

Ascott Residence Trust Management, the manager of Ascott Residence Trust, said Thursday said it has completed the sale of the Ascott Raffles Place Singapore property. The deal was announced in January.

Read more: Ascott Residence Trust divests Ascott Raffles Place Singapore for around S$353 million

Sunpower Group

Sunpower Group said Thursday it was selected as the exclusive supplier of a cryogenic pipeline support system for one of the event venues for the Beijing 2022 Winter Olympic Games.

Read more: Sunpower: To provide cryogenic pipeline services for a 2022 Winter Olympics venue

Soilbuild Construction

Soilbuild Construction proposed on Thursday a preferential offering of up to 168.25 million new shares, which is expected to raise around S$12.3 million, and up to 168.25 million free detachable warrants, which if fully exercised would raise another S$12.3 million.

Read more: Soilbuild Construction proposes share and warrant offering to fund factory expansion

TEE Land and TEE International

TEE Land and TEE International both requested trading halts Thursday, pending the release of an announcement.

Read more about TEE Land and TEE International.

Maxi-Cash

Pawnbroker Maxi-Cash Financial Services reported Thursday its first quarter net profit rose 55 percent on-year to S$2.80 million on lower other operating expenses, including a narrower foreign exchange loss.

Read more: Maxi-Cash reports 1Q19 net profit rose 55 percent on lower expenses

 

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