This article was originally published on Tuesday, 30 July 2019 at 12:57 A.M. SGT; it has since been updated to include Sembcorp Marine, Ascott Residence Trust, CDL Hospitality Trusts, Far East Hospitality Trust and ARA US Hospitality Trust.
These are Singapore companies which may be in focus on Tuesday, 30 July 2019:
Sembcorp Marine reported Tuesday a second quarter net loss of S$8.5 million due to accelerated depreciation, but that was narrower than the S$55.6 million loss posted in the year-ago period.
Singapore Airlines budget carrier Scoot plans to add 16 new A321neo aircraft to its fleet as the airline aims to meet a double-digit growth target by the end of fiscal year 2020-21, the carrier said in a filing to SGX Monday.
DBS reaped the benefits of higher interest rates in its better-than-expected second quarter earnings, but the bank could face headwinds ahead, with the U.S. Federal Reserve likely to begin retracing some of its hikes.
Ascendas REIT reported Monday its fiscal first quarter net property income rose 11.5 percent on-year to S$177.5 million on new acquisitions in the U.K. and Australia during the previous financial year. The figure beat a forecast from Daiwa.
Ascott Residence Trust
Ascott Residence Trust reported Tuesday its second quarter gross profit rose 7 percent on-year to S$67.66 million on higher revenue and changes to accounting for leases.
CDL Hospitality Trusts
CDL Hospitality Trusts reported Tuesday second quarter net property income edged up 0.5 percent on-year to S$33.76 million, missing a forecast from Daiwa.
Supermarket operator Sheng Siong reported Monday its second quarter net profit rose 7.6 percent on-year to S$18.4 million as revenue grew with the addition of 13 new stores.
Delong Holdings said Monday Best Grace Holdings has renewed its conditional takeover bid to acquire all of the company’s shares at S$7.00 each.
ST Engineering’s electronics arm divested its 51 percent stake in GFM Electronics for “a nominal consideration” in cash to an existing GFME shareholder, the Singapore-listed defense company said in a filing to SGX Monday.
The consideration was decided after taking into account the current market conditions, GFME’s financial position and future business prospects, ST Engineering said.
“The divestment of GFME is part of ongoing efforts to streamline the group’s business portfolio. It has no material P&L impact on the group,” the filing said.
Far East Hospitality Trust
Far East Hospitality Trust reported Tuesday its second quarter net property income fell 2.4 percent on-year to S$25.12 million as hotel demand faced pressure from economic uncertainty and a lack of major events.
ARA US Hospitality Trust
ARA US Hospitality Trust reported Tuesday its net property income for the 9 May to 30 June period was US$9.86 million, 0.4 percent above the forecast of S$9.82 million from its IPO prospectus.
EC World REIT
EC World REIT said Monday that it drew from offshore and onshore loan facilities it announced in June.
The REIT’s wholly owed subsidiary ECW Treasure drew down the equivalent of S$354.62 million under its offshore loan facility. In addition, wholly owned subsidiaries Hangzhou Chongxian Port Investment, Hangzhou Bei Gang Logistics and Zhejiang Hengde Sangpu Logistics drew down 977.65 million yuan under their onshore loan facility, the REIT said in a filing to SGX.
ECW Treasure’s drawdown, the first under the facility, was used to refinance all of EC World REIT’s existing offshore term loans due this year, with the balance earmarked to partially fund the proposed acquisition of Fuzhou E-commerce and other working capital purposes, the filing said.
The onshore drawdown was used to refinance all of EC World REIT’s existing onshore term loans due this year, the REIT added.
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