UPDATE: SG stocks Monday: DBS, Mapletree Commercial, MNACT, Olam, Straits Trading, Raffles Education, DHLT, StarHub

Mapletree Commercial Trust's Mapletree Business City property in Singapore. Mapletree North Asia Commercial Trust (MNACT) and Mapletree Commercial Trust agreed in December 2021 to merge to form Mapletree Pan-Asia Commercial Trust. Credit: Mapletree Commercial TrustMapletree Commercial Trust's Mapletree Business City property in Singapore. Mapletree North Asia Commercial Trust (MNACT) and Mapletree Commercial Trust agreed in December 2021 to merge to form Mapletree Pan-Asia Commercial Trust. Credit: Mapletree Commercial Trust

(This item was originally published on Sunday, 13 February 2022 at 14:05 SGT; it has since been updated to include DBS.)

Singapore companies in focus on Monday, 14 February 2022:

  • UPDATE: DBS reports 4Q21 net profit rose 37 percent, missing Daiwa forecast
  • Mapletree Commercial, MNACT respond to Quarz letter on merger deal terms
  • Olam to divest remainder of ARISE IIP and ARISE IS to ATIF for US$189M
  • Straits Trading to acquire two Australia office buildings for A$150M

Others: Aspen (Group) Holdings, Raffles Education, StarHub, Luminor Financial, Daiwa House Logistics Trust (DHLT) and First Sponsor. 

Read more company briefs here.

DBS

DBS Group reported Monday its net profit for the fourth quarter grew 37 percent on-year to S$1.39 billion, missing a forecast from Daiwa. 

Read more: UPDATE: DBS reports 4Q21 net profit rose 37 percent, missing Daiwa forecast

Mapletree Commercial Trust, Mapletree North Asia Commercial Trust and Quarz Capital Management

Both Mapletree Commercial Trust and Mapletree North Asia Commercial Trust (MNACT) responded Friday to criticism of the terms of their proposed merger by significant shareholder, Quarz Capital Management.

Read more: Mapletree Commercial, MNACT respond to Quarz letter on merger deal terms

Olam International

Olam International said Friday it entered deals to sell its remaining equity stakes in ARISE Integrated Industrial Platforms (ARISE IIP) and ARISE Infrastructure Services (ARISE IS), part of the ARISE
group, for US$189 million.

Read more: Olam to divest remainder of ARISE IIP and ARISE IS to ATIF for US$189M

The Straits Trading Co. 

The Straits Trading Co. has entered into deals to acquire two Australian office properties located in Docklands, Victoria, from Digital Harbour Holdings for A$150 million, or around S$143.9 million, the company said in a filing to SGX Friday. 

Read more: Straits Trading to acquire two Australia office buildings for A$150M

Luminor Financial 

Luminor Financial Holdings‘ wholly owned subsidiary Starland Axis has entered a binding memorandum of understanding (MOU) to acquire around 71.55 percent of crowdfunding platform Funded Here, the company said in a filing to SGX Saturday. 

Read more: Luminor Financial to acquire 72 percent of crowdfunding platform Funded Here

Daiwa House Logistics Trust

Daiwa House Logistics Trust (DHLT) reported Friday its net property income for the period from its listing date on 26 November to 31 December came in at S$5.26 million, 2.4 percent above the pro-rated forecast for the period from its initial public offering (IPO) prospectus

Read more: Daiwa House Logistics Trust post net property income slightly above view

First Sponsor

First Sponsor reported Friday its 2021 net profit rose 17.7 percent on-year to S$121.47 million, largely on contributions from the 60 percent owned The Pinnacle project in Dongguan and a record annual average China property financing loan book.

Read more: First Sponsor posts 2021 net profit rose 18 percent on property sales, loan book

StarHub

StarHub reported Friday its 2021 net profit slipped 5.5 percent on-year to S$149.3 million amid lower government support payments and higher finance costs.

Read more: StarHub reports 2021 net profit slipped 6 percent

Raffles Education

Raffles Education reported Friday its fiscal first half net profit dropped 76 percent on-year to S$8.72 million on higher finance costs and other expenses.

Read more: Raffles Education reports fiscal 1H net profit dropped 76 percent despite revenue rise

Aspen (Group) Holdings

Aspen (Group) Holdings reported Friday its second half swung to a net loss of 59.40 million ringgit from a year-ago net profit of 85.39 million ringgit on lower property revenue and as the healthcare segment, which manufactures latex gloves, isn’t yet operating at an optimum level.  

Read more: Aspen reports 2H21 swung to net loss as latex glove prices fall