UPDATE: Singapore stocks to watch Wednesday: CityDev, Singtel, SGX, ComfortDelGro, Hyflux

SingTel retail store at Raffles City Mall in Singapore; taken September 2018.SingTel retail store at Raffles City Mall in Singapore.

This article was originally published on Tuesday, 14 May 2019 at 21:58 SGT; it has since been updated to include City Developments, Singtel, AIMS APAC REIT, First Resources and ST Engineering.

These are Singapore companies which may be in focus on Wednesday, 15 May 2019:

City Developments

City Developments entered a deal to invest in China property developer Sincere Property Group for a total 5.5 billion yuan, or around S$1.1 billion, the Singapore real estate company said in a filing to SGX before the market open Wednesday.

Read more: City Developments enters S$1.1 billion deal to invest in China developer Sincere Property

Singtel

Singtel reported Wednesday its fiscal fourth quarter net profit rose 0.4 percent on-year to S$773 million as results were adversely impacted by the Australian dollar depreciating by 7 percent on-year.

Read more: Singtel reports nearly flat fiscal 4Q net profit amid Australian dollar’s decline

Singapore Exchange

Singapore Exchange said Tuesday it would introduce from 3 June a 10-minute “trade at close,” or TAC, session, to immediately follow the closing auction routine.

Read more: Singapore Exchange to launch ‘trade at close’ session

City Developments

City Developments reported Wednesday its first quarter net profit jumped 133.8 percent on-year to S$199.56 million on strong profit margins for development projects and a gain from the divestment of Manulife Centre.

Read more: City Developments reports 1Q19 net profit more than doubled on strong margins, divestment

ST Engineering

ST Engineering reported Wednesday its first quarter net profit increased 11 percent on-year to S$131.1 million on a favorable sales mix.

Read more: ST Engineering reports 1Q19 net profit rose 11 percent on aerospace, electronics

ComfortDelGro

ComfortDelGro reported Tuesday its first quarter net profit increased 6.2 percent on-year to S$70.4 million on contributions from new acquisitions.

Read more: New acquisitions boost ComfortDelGro 1Q19 net profit

Hyflux

Hyflux has received a binding offer from United Arab Emirates-based Utico, but has not accepted or entered into a binding deal, the troubled Singapore water player said in a filing to SGX Tuesday.

Read more: Hyflux didn’t enter into binding term sheet with Utico

AIMS APAC REIT

AIMS APAC REIT entered a deal to acquire a Queensland, Australia, property for A$38.46 million, or around S$36.92 million, from GSM Rocket Australia, the Singapore-listed industrial REIT said in a filing to SGX Wednesday.

Read more: AIMS APAC REIT to acquire Australia property for A$38 million

Yanlord Land

Yanlord Land reported Tuesday first quarter net profit dropped 59 percent on-year to 323.06 million yuan (S$64.29 million or US$46.94 million) on lower gross floor area (GFA) delivered and lower average selling prices as the product mix shifted.

Read more: Yanlord Land reports 1Q19 net profit dropped 59 percent

First Resources

First Resources reported Wednesday its first quarter net profit dropped 55.7 percent on-year to US$12.29 million on weaker crude palm oil (CPO) prices, partly offset by higher sales volumes.

Read more: First Resources reports 1Q19 net profit dropped 56 percent as palm oil prices fell

JUMBO Group

Singapore chili crab restaurateur JUMBO Group reported Tuesday its fiscal second quarter net profit rose 17.6 percent on-year to S$5.02 million amid higher franchise income and the closure of underperforming outlets.

Read more: JUMBO posts fiscal 2Q net profit despite revenue slipping

Sasseur REIT

Sasseur REIT has completed the acquisition of shop units at the Hefei outlets, the Chinese outlet mall owner said in a filing to SGX Tuesday.

Read more: Sasseur REIT to acquire shop units at Hefei Outlets for around 98 million yuan

Kencana Agri

Kencana Agri reported Tuesday a first quarter net profit of US$602,000,  swinging from a year-earlier loss of US$9.85 million, on fair value gains on biological assets and the Indonesian rupiah strengthening against the U.S. dollar.

Read more: Kencana Agri swings to 1Q19 net profit on fair-value gain

Spackman Entertainment

Spackman Entertainment reported Tuesday its first quarter net profit surged by more than four times to US$1.35 million, up from US$322,000 in the year-ago period.

Read more: Spackman Entertainment 1Q19 net profit jumps on ‘Default’ contribution

PropNex

PropNex reported Tuesday its first quarter net profit dropped 67.6 percent on-year to S$2.0 million amid lower commission income during the traditionally tepid quarter.

Read more: PropNex reports 1Q19 net profit dropped 68 percent amid lower commission income

 

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Moneymax

Moneymax reported Tuesday its first quarter net profit dropped 50.6 percent on-year to S$1.04 million amid changed accounting for leases and higher finance costs.

Read more: Accountung charges weigh on Moneymax’s 1Q19 net profit

Isetan (Singapore)

Isetan (Singapore) reported Tuesday its first quarter net profit rose 29.65 percent on-year to S$1.54 million despite a revenue decline amid lower total expenses.

Read more: Isetan (Singapore) reports 1Q19 net profit rose 30 percent

Pine Capital

Pine Capital appointed Wang Meng as executive director and CEO of its 51 percent-owned subsidiary Advance Capital Partners Asset Management, or ACPAM, it said in a filing to SGX Tuesday.

Wang Meng is currently the head of Greater China for Pine Capital, the filing said.

Read more about Pine Capital.

AusGroup

AusGroup said Tuesday it tapped Shane Francis Kimpton, who has been the company’s CEO and executive director since July 2017, as managing director.

Read more about AusGroup.

 

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