SG stocks Tuesday: Mapletree Logistics, ComfortDelGro, Olam, Elite Commercial, Isetan

ComfortDelGro taxis queue in Singapore. Photo by Benjamin Chan on UnsplashComfortDelGro taxis queue in Singapore. Photo by Benjamin Chan on Unsplash

Singapore companies in focus on Tuesday, 1 March 2022: 

  • Mapletree Logistics Trust to acquire South Korea logistics property for around S$100M
  • ComfortDelGro reports 2021 net profit more than doubled as Covid restrictions ease
  • Olam reports 2021 net profit more than doubled

Others: Elite Commercial REIT, Sim Leisure, Ho Bee Land, Isetan Singapore and ARA LOGOS Logistics Trust (ALOG).

Mapletree Logistics Trust

Mapletree Logistics Trust has entered a deal to acquire the Baeksa Logistics Centre in South Korea for KRW88.5 billion, or around S$100.3 million, the REIT said in a filing to SGX Monday. 

Read more: Mapletree Logistics Trust to acquire South Korea logistics property for around S$100M

ComfortDelGro

ComfortDelGro reported Monday its 2021 net profit climbed 114 percent on-year to S$130.1 million, with transportation demand improving as Covid-related restrictions eased. 

Read more: ComfortDelGro reports 2021 net profit more than doubled as Covid restrictions ease

Ho Bee Land

Ho Bee Land reported Monday its 2021 net profit jumped 141 percent on-year to S$330.51 million on higher development earnings. 

Read more: Ho Bee Land reports 2021 net profit more than doubled

Olam International

Olam International reported Monday its 2021 net profit climbed 179 percent on-year to S$686.43 million on higher prices across most products and commodities, and significantly lower exceptional losses.

Read more: Olam reports 2021 net profit more than doubled

Elite Commercial REIT

Elite Commercial REIT said Monday it entered agreements with its tenant, The Secretary of State for
Levelling Up, Housing and Communities of the United Kingdom, for asset enhancement works to meet sustainability and climate adaptation requirements. 

Read more: Elite Commercial REIT to enhance properties to meet sustainability requirements

ARA LOGOS Logistics Trust

ARA LOGOS Logistics Trust (ALOG) said Monday it views the contributions of Chairman and Non-Executive Director Lim How Teck to the manager’s board are positive and that he continues to dedicate sufficient time to meet his status.

Read more: Executive moves: ARA LOGOS Logistics Trust

Isetan Singapore

Isetan Singapore reported Monday it swung to a net profit of S$2.16 million for 2021 from a net loss of S$20.23 million as measures to prevent the spread of Covid-19 were eased, leading to higher sales. 

Read more: Isetan Singapore reports 2021 swung to net profit

Sim Leisure

Sim Leisure reported Monday it swung to a 2021 net loss of MYR11.80 million from a year-earlier net profit of MYR8.46 million on income tax expense, finance costs and impairments on trade receivables. 

Read more: Sim Leisure swings to 2021 net loss despite revenue recovery