UPDATE: SG stocks Thursday: Sembcorp, Ho Bee Land, Sheng Siong, OCBC, LS 2, Q&M Dental

OCBC building in Signapore’s central business districtOCBC building in Signapore’s central business district. Photo taken pre-Covid.

Singapore companies in focus on Thursday, 24 February 2022: 

  • Ho Bee Land to acquire London office property for GBP718M
  • Sembcorp Industries 2021 net profit jumps 78 percent
  • Sheng Siong reports 2021 net profit edged down
  • LS 2 Holdings to make trading debut

Others: OCBC, United Hampshire US REIT, Q & M Dental Group (Singapore) and Sembcorp Industries.

This item was originally published on Thursday, 24 February 2022 at 1:26 a.m. SGT; it has since been updated to include Ho Bee Land.

Ho Bee Land

Ho Bee Land has agreed to acquire a Grade-A office tower called “The Scalpel” at 52 Lime Street in London from Berkley Insurance Co. and Berkley Regional Insurance Co. for GBP718 million, the Singapore company said in a filing to SGX Thursday. 

Read more: Ho Bee Land to acquire London office property for GBP718M

OCBC

OCBC has pinpointed wealth management as a key growth driver.

The Singapore bank, which reported Wednesday fourth quarter earnings below analysts’ expectations, named wealth management as one of its four priorities to drive growth ahead, with the other three including trade and investment flows, new economy industries and sustainability.

Read more: OCBC Targeting Wealth Management Growth

Sheng Siong

Supermarket chain Sheng Siong reported Wednesday its 2021 net profit declined 4.3 percent on-year to S$133.1 million after Covid-19 lockdowns in 2020 led to elevated demand a year earlier.

Read more: Sheng Siong reports 2021 net profit edged down

LS 2 Holdings

LS 2 Holdings’ initial public offering (IPO) is set to make its trading debut on Thursday. 

Read more: LS 2 Holdings to make trading debut

Sembcorp Industries

Sembcorp Industries reported Wednesday its full year net profit rose 78 percent on-year to S$279 million amid higher contributions across all segments. 

Read more: Sembcorp Industries 2021 net profit jumps 78 percent

Sembcorp Industries

Sembcorp Energy UK (SEUK), a wholly owned subsidiary of Sembcorp Industries, has obtained a 15-year contract for 150 megawatts of two-hour duration battery storage, equivalent to 300 MWh, in the provisional results of the latest T-4 2025-26 Capacity Market auction, the company said in a filing to SGX Wednesday. 

Read more: Sembcorp lands UK battery storage contract

Q & M Dental Group (Singapore)

Q & M Dental Group (Singapore) reported Wednesday its fourth quarter net profit fell 47 percent on-year to S$3.17 million, partly on higher expenses for consumables and supplies. 

Read more: Q&M Dental reports 4Q21 net profit fell 47 percent despite revenue rise

United Hampshire US REIT

United Hampshire US REIT said Wednesday it has entered a deal to divest Elizabeth Self-Storage and Perth Amboy Self-Storage to unrelated third party Storage Post LLC for US$49.0 million. 

Read more: United Hampshire US REIT to divest two self-storage properties

Singtel, Lendlease Global Commercial REIT and others

Singapore company briefs: Singtel, ARA US Hospitality Trust, Lendlease Global Commercial REIT and V2Y Corp. 

Read more: SG briefs: Singtel, Lendlease Global Commercial REIT, ARA US Hospitality Trust, V2Y Corp