UPDATE: Singapore stock briefs Friday: CapitaLand, GENS, UOL, SBS Transit, Yanlord, United Hampshire, BHG Retail, SingPost, MoneyMax, MindChamps

CapitaLand Integrated Commercial Trust's Raffles City mall in SingaporeCapitaLand Integrated Commercial Trust's Raffles City mall in Singapore

These are Singapore companies which may be in focus on Friday, 13 August 2021: Genting Singapore, UOL, Boustead Projects, SBS Transit, Yanlord Land, United Hampshire US REIT, BHG Retail REIT, Singapore Post (SingPost), MoneyMax, ValueMax, MindChamps PreSchool, Y Ventures and SunMoon Food.

This article was originally published on Friday, 13 August 2021 at 1:25 a.m. SGT; it has since been updated to include CapitaLand, Olam, Keppel DC REIT, Cromwell European REIT, Sasseur REIT, Golden Agri-Resources, China Sunsine Chemical, Banyan Tree and Isetan Singapore.

CapitaLand

CapitaLand reported Friday its first half net profit surged 9.5 times on-year to S$922.15 million, driven by the nascent economic recovery in its two core markets, Singapore and China, which accounted for 77 percent of revenue.

Read more: CapitaLand reports 1H21 net profit surged by nearly 10 times on recovery in Singapore, China

Genting Singapore

Genting Singapore reported Thursday it swung to a first half net profit of S$88.22 million from a year-ago net loss of S$116.68 million after operations at Resorts World Sentosa were largely shuttered for the Circuit Breaker period in 2020 to stem the spread of the Covid-19 virus.

Read more: Genting Singapore swings to 1H21 net profit on government support measures

Olam

Olam International said Friday it will seek a primary listing on the London Stock Exchange for its operating group Olam Food Ingredients, while concurrently seeking a listing in Singapore, in the first half of 2022.

Read more: Olam plans London IPO for Olam Food Ingredients

UOL

UOL reported Thursday its first half swung to a net profit of S$91.34 million from a year-earlier loss of S$82.14 million on higher revenue from property development and lower fair value losses.

Read more: UOL swings to 1H21 net profit on higher revenue from property development

Keppel DC REIT

Keppel DC REIT priced its private placement at S$2.522 a unit, the top of its S$2.47 to S$2.522 indicative range as the offering was around 3.7 times subscribed, the data center-focused REIT said late Thursday.

Read more: Keppel DC REIT private placement prices at top of range on strong demand

Boustead Projects

Boustead Projects’ wholly owned subsidiary BP-Real Estate Investments, along with Roark Capital and Lim Teck Lee Investments, have entered a deal to acquire S$110 million in defaulted notes backed by Singapore’s Orchard Hills property for S$117 million, the Singapore-listed company said Thursday.

Read more: UPDATE: Boustead Projects, investors to acquire S$110M defaulted notes backed by Orchard Hills property

SBS Transit

SBS Transit reported Thursday its first half net profit rose 11.9 percent on-year to S$36.48 million on higher rail ridership and higher service fees and on S$34.6 million in government support from the Job Support Scheme.

Revenue for the January-to-June period increased 6.2 percent on-year to S640.82 million, the rail and bus operator said in a filing to SGX.

Read more about SBS Transit’s earnings report.

 

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Yanlord Land

Yanlord Land reported Thursday its first half net profit grew 67 percent on-year to 823.39 million yuan on higher gross floor area (GFA) delivered to customers, partly offset by lower average selling prices (ASP) due to a change in the product mix delivered.

Read more: Yanlord Land reports 1H21 net profit climbed 67 percent as more properties were delivered

Cromwell European REIT

Cromwell European REIT reported Friday its first half net property income increased 11.4 percent on-year to 64.29 million euros, mainly on higher revenue from newly acquired assets in Italy, the Czech Republic and Slovakia, and the absence of doubtful debt provisions.

Read more: Cromwell European REIT posts 1H21 net property income rose 11 percent on newly acquired assets

Golden Agri-Resources

Golden Agri-Resources reported Friday it swung to a first half net profit of US$153 million from a year-ago net loss of US$157 million on a recovery in palm product output and sustained strong crude palm oil (CPO) market prices.

Revenue for the January-to-June period increased 31 percent on-year to US$4.45 billion, the palm oil player said in a filing to SGX.

“Global vegetable oil supply has been very tight because of weather uncertainties in some producing countries. Particularly for palm oil, production recovery is also weaker than expected primarily due to the foreign labour shortage in Malaysia. These conditions are expected to remain until late 2021,” Franky O. Widjaja, Golden Agri’s chairman and CEO, said in the statement.

Read more about Golden Agri’s earnings results.

China Sunsine Chemical

China Sunsine Chemical reported late Thursday Yan Tangfeng, its independent director, mistakenly sold 200,000 of his shares in the company.

Read more: China Sunsine Chemical independent director mistakenly sells part of stake

Banyan Tree

Banyan Tree reported Friday its first half net loss narrowed slightly to S$42.60 million, compared with a S$49.15 million net loss in the year-ago period as the hotel investments segment continued to see depressed occupancy due to international travel restrictions, predominantly in Asia.

Revenue for the January-to-June period fell 25 percent on-year to S$53.47 million on the closure of Thailand’s border to international travel since the second quarter of 2020, the resort operator said in a filing to SGX.

Read more about Banyan Tree’s earnings report.

Sasseur REIT

Sasseur REIT reported Friday its second quarter Entrusted Management Agreement (EMA) rental income rose 3.5 percent on-year to 145.8 million yuan as the business recovery at the four China outlets continued to gain momentum.

Read more: Sasseur REIT reports 2Q21 EMA rental income rose 3.5 percent

United Hampshire US REIT

United Hampshire US REIT reported Thursday its first half net property income came in at US$20.47 million, 0.5 percent below the forecast from its initial public offering (IPO) prospectus.

Read more: United Hampshire US REIT reports 1H21 net property income came in slightly under IPO forecast

BHG Retail REIT

BHG Retail REIT reported Thursday its first half net property income rose 24.8 percent on-year to S$20.6 million as China’s economy is recovering and retail sales of consumer goods are rising.

Read more: BHG Retail REIT reports 1H21 net property income rose 25 percent

SingPost

Lendlease, via its Paya Lebar Quarter property, Paya Lebar Square and SingPost Investments, via its SingPost Centre Mall property, have formed the Paya Lebar Central Partnership under Singapore’s Urban Redevelopment Authority’s (URA) pilot Business Improvement District (BID) program to “invigorate” the Paya Lebar area, according to a filing to SGX Thursday.

The BID program is aimed at supporting efforts to create vibrant districts and attractive public spaces in Singapore, the filing said, noting the Paya Lebar Central Partnership is the first one formed outside the city center. The effort will focus on three themes: sustainability, including landscaped green spaces; health and wellness events; and cultural exchanges in an era which includes Katong, Joo Chiat and Geylang Serai, the filing said.

The stakeholders did not immediately return Shenton Wire’s emailed request for comment on whether the potential Simsville en bloc sale would be incorporated into the group’s plans.

Read the Paya Lebar Central Partnership press release.

MoneyMax

Pawnbroker MoneyMax Financial Services reported Thursday its first half net profit climbed 53 percent on-year to S$8.64 million on increased revenue from the retail of pre-owned and new luxury items, pawnbroking and the motor-vehicle financing segment.

Read more: MoneyMax posts 1H21 net profit grew 53 percent on higher retail and pawnbroking revenue

 

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ValueMax

ValueMax reported first half net profit increased 44.4 percent on-year to S$18.41 million as revenue from the retail and trading of pre-owned jewellery and gold buisness and moneylending business increased, partly offset by a decline in pawnbroking revenue.

Revenue for the January-to-June period grew 38.5 percent on-year to S$131.65 million, the pawnbroker said in a filing to SGX.

Read more about ValueMax’s earnings report.

Isetan Singapore

Isetan Singapore reported Friday its first half swung to a net profit of S$1.25 million from a year-ago loss of S$317,000, mainly on stores being able to operate for the full six months after the year-earlier closure for the 7 April to 18 June Circuit Breaker period to stem the spread of the Covid-19 virus.

Read more: Isetan Singapore reports 1H21 swung to a net profit after year-earlier Circuit Breaker closure

MindChamps Preschool

MindChamps Preschool reported Thursday its first half net profit fell 57 percent on-year to S$326,000 on higher expenses due to a stronger Australian dollar, administrative costs for the newly acquired performing art school business, professional costs for overseas expansion, and reduced Covid-19 support packages.

Revenue for the January-to-June period increased 44 percent on-year to S$31.14 million, partly on a year-earlier mandated school fee reduction, the preschool operator said in a filing to SGX.

MindChamps said it was expanding and upgrading existing centers in Toa Payoh and Woodlands to accommodate 75 percent more students.

Read more about MindChamps Preschool’s earnings report.

Y Ventures

Y Ventures said Thursday it entered a deal to acquire 50.01 percent of the enlarged share capital of collectible toy developer and marketplace platform Toyrrential from the company and its shareholders Tey Beng Huan and Evolve Capital Management for S$250,000.

Toyrrential uses blockchain technology to trace collectible toys’ provenance, while its wholly owned subsidiary Century Fugu manufactures and distributes collectible designer soft toys online, including Ultraman figurines, Y Ventures said in a filing to SGX.

Read more about the deal.

SunMoon Food

SunMoon Food said Thursday its independent auditor has expressed material uncertainty related to whether the company can remain a going concern. However, the company will have sufficient net positive cash flow to satisfy working capital requirements and meet obligations, SunMoon said, adding it is also seeking ways to raise funds, including a potential placement shares issuance.

The financial statements for the fiscal year will be released soon, the company said in a filing to SGX.

 

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