UPDATE: Singapore stocks to watch Monday: DBS, CapitaLand, SIA Engineering, FLT, Stamford Land

DBS Bank branchDBS Bank branch

This article was originally published on Friday, 26 July 2019 at 22:55 SGT; it has since been updated to include DBS, CapitaLand, CapitaLand Commercial Trust, Raffles Medical and iFAST.

These are Singapore companies which may be in focus on Monday, 29 July 2019:

DBS

DBS reported its second quarter net profit Monday jumped 20 percent on-year to S$1.60 billion on corporate loan growth, a higher net interest margin, record fee income and improved trading performance. The results beat analysts’ forecasts.

Read more: DBS 2Q19 net profit jumped 20 percent, beating forecasts

CapitaLand

CapitaLand’s megastructure Raffles City Chongqing has leased 95 percent of the retail component ahead of its opening in September, the property developer said Monday.

Read more: CapitaLand’s Raffles City Chongqing retail segment 95 percent pre-leased

SIA Engineering

SIA Engineering reported Friday its fiscal first quarter net profit rose 2.7 percent on-year to S$41.6 million as nearly flat revenue was offset by a decline in expenses.

Read more: SIA Engineering fiscal 1Q net profit rose 3 percent

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Frasers Logistics & Industrial Trust

Frasers Logistics & Industrial Trust reported Friday its fiscal third quarter net property income rose 20.7 percent on-year to A$49.64 million (S$46.97 million or US$34.30 million) on acquisitions in Europe and Australia.

Read more: Frasers Logistics Trust reports fiscal 3Q net property income rose 21 percent

Stamford Land

Stamford Land has acquired a 60 percent stake in the grade-A commercial office property at 8 Finsbury Circus, in London, U.K., from Mitsubishi Estate London for 260 million British pounds (S$441.98 million or US$323.05 million) in cash, the property investment company said Friday.

Read more: Stamford Land acquires 60 percent stake in London office property

CapitaLand Commercial Trust

CapitaLand Commercial Trust said the 105.01 million news units issued at S$2.095 each in a private placement would be issued and begin trading Monday.

Read more about CapitaLand Commercial Trust.

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Keppel Corp.

Keppel Corp. said Friday MPL, a wholly owned subsidiary of Keppel Land, has completed the acquisition of a 60 percent interest in NBRE. The deal was part of the formation of joint ventures to develop residential condominiums in the Nha Be District in Ho Chi Minh City, Vietnam, Keppel said in a filing to SGX.

Read more about Keppel Corp.

UOL

UOL Group said Friday its wholly owned subsidiary Pan Pacific Hotels Group has appointed Choe Peng Sum as CEO, effective 1 September.

Choe has been a non-executive director of Fraser Hospitality Trust since 2014 and was CEO of Fraser Hospitality International from 1996 through February 2019, UOL said in a filing to SGX.

Read more about UOL.

Raffles Medical

Raffles Medical Group reported Monday its second quarter net profit fell 15.6 percent on-year to S$14.25 million on “gestation” losses for Raffles Hospital Chongqing.

Read more: Raffles Medical reports 2Q19 net profit fell 16 percent on Raffles Hospital Chongqing

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Fortune REIT

Fortune REIT reported Friday its first half net property income was flat on-year at HK$748.7 million (S$131.12 million or US$95.78 million), on revenue of HK$947.3 million, down 0.4 percent on-year.

The distribution per unit (DPU) for the half-year was 26.13 Hong Kong cents, down 0.8 percent from 26.34 Hong Kong cents in the year-ago period, the REIT said in a filing to SGX.

Revenue declined due to the divestment of Provident Square in February 2018, transitional vacancies at Fortune Kingswood due to asset enhancement works that began in June 2018 and a lower average portfolio occupancy on-year, the filing said. Property operating expenses fell 1.9 percent on-year to HK$202.4 million, the filing said.

Read Fortune REIT’s financial statement and articles on Fortune REIT.

iFAST Corp.

Wealth-management platform iFAST Corp. reported Saturday its second quarter net profit dropped 16.5 percent on-year to S$2.45 million amid continued investments in developing the platform’s services.

Read more: iFAST reports 2Q19 net profit fell 17 percent on costs for adding services

Soilbuild Business Space REIT

Soilbuild Business Space REIT said Friday it was continuing to monitor the application by another creditor of NK Ingredients for the appointment of a judicial manager over the lanolin processing company.

Read more: Soilbuild REIT: Watching judicial management application for NK Ingredients

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Cordlife

Ng Wei Cheun became a substantial shareholder of Cordlife after acquiring 16.88 million shares for S$8.89 million on 10 July, for a total holding of 6.66 percent, Ng said in a filing to SGX Friday.

The shares were acquired in an off-market transaction, the filing said.

The filing indicated a second off-market transaction on 10 July of 16.88 million shares being disposed of at S$10.70 million.

Read more about Cordlife.

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