These are Singapore companies which may be in focus on Friday, 8 November 2019: Genting Singapore (GENS), SPH REIT, Singapore Airlines (SIA), Dairy Farm International, Thai Beverage, Lippo Malls Indonesia Retail Trust (LMIRT), EC World REIT, Frasers Centrepoint Trust, Stamford Land, Maxi-Cash Financial Services, Kingsmen Creatives, MindChamps PreSchool, iFAST Corp. and Allied Technologies.
This article was originally published on Friday, 8 November 2019 at 12:52 A.M. SGT; it has since been updated to include Moneymax Financial Services.
Genting Singapore reported Thursday its third quarter net profit dropped 24 percent on-year to S$158.87 million on higher depreciation costs and an unfavorable “hold,” or how much the house won.
SPH REIT has entered a deal to acquire a 50 percent stake in the Westfield Marion Shopping Centre, located in Adelaide, Australia, from Lendlease Real Estate Investments for A$670 million, or around S$636.5 million, the REIT said in a filing to SGX.
Singapore Airlines’ management elaborated on the improvements in its share of results from joint ventures and associates which bolstered its fiscal second quarter results, based on the transcript released Thursday of its earnings briefing.
Dairy Farm International
Dairy Farm International reported Thursday its third-quarter combined sales, including associates and joint ventures, were higher on-year, mainly on the investment in Robinsons Retail in late 2018.
Thai Beverage said Thursday ratings agency TRIS Rating has affirmed its company rating on the beverage maker at AA with a stable outlook.
AA is considered an investment-grade rating, Thai Beverage said in a filing to SGX.
Thailand’s country rating by TRIS is AAA, the filing said.
Lippo Malls Indonesia Retail Trust
Lippo Malls Indonesia Retail Trust reported Thursday its third quarter net property income increased 11.8 percent on-year to S$44.12 million on a stable portfolio performance and a stronger Indonesian rupiah.
EC World REIT
EC World REIT reported Thursday its third-quarter net property income increased 3.2 percent on-year to S$22.92 million on strong occupancy and the acquisition of the Fuzhou E-Commerce property.
Frasers Centrepoint Trust
Schroders PLC has become a substantial unitholder of Frasers Centrepoint Trust, with its deemed interest rising to 5.006 percent from 4.997 percent previously, Schroders Investment Management said in a filing to SGX Thursday.
The stake followed the acquisition of 100,000 units in a market transaction on behalf of clients for S$268,000, the filing said.
Stamford Land reported Thursday its fiscal second quarter net profit fell 15.9 percent on-year to S$9.72 million, hurt by the impact of a decline in the Australian dollar and lower property development sales.
Maxi-Cash Financial Services
Maxi-Cash Financial Services reported Thursday its third quarter net profit jumped 105 percent on-year to S$5.64 million, partly due to a lower foreign exchange loss.
Kingsmen Creatives reported Thursday its third quarter net profit tumbled 93 percent on-year to S$115,000, mainly on costs from new business areas.
Moneymax Financial Services
Moneymax Financial Services reported Thursday its third quarter net profit more than tripled to S$3.07 million from S$947,000 in the year-ago period, mainly on increased revenue from retail and trading of luxury items, and pawnbroking.
MindChamps PreSchool reported Thursday its third quarter net profit dropped 71 percent on-year to S$339,000 on higher expenses.
Albizia ASEAN Tenggara Fund became a substantial shareholder of iFAST Corp., with its deemed interest rising to 5.08 percent from 4.97 percent, Albizia Capital said in a filing to SGX Thursday.
The increased interest came after the acquisition of 300,000 shares in a market transaction for S$308,910, the filing said.
Allied Technologies warned Thursday it expected to report a net loss for the nine month period ended 30 September.
“This is mainly due to declining gross profit margin arising from the challenging business environment in light of the uncertain global economic outlook,” the company said in a filing to SGX.
The results are expected to be released on or before 14 November.