SG stocks Thursday: SembMarine, Keppel, ESR-REIT, Frasers Centrepoint, ST Engineering

The TotalEnergies Tyra West modules and bridges sailaway from Sembcorp Marine Admiralty Yard. Credit: Sembcorp MarineThe TotalEnergies Tyra West modules and bridges sailaway from Sembcorp Marine Admiralty Yard. Credit: Sembcorp Marine

Singapore companies in focus on Thursday, 28 April 2022:

  • SembMarine reaches deal to combine with Keppel O&M
  • ESR-REIT reports 1Q22 net property income dropped 10 percent
  • Frasers Centrepoint Trust posts fiscal 1H net property income rose 4 percent

Others: ST Engineering, AIMS APAC REIT and CapitaLand Integrated Commercial Trust (CICT).

SembMarine reaches deal to combine with Keppel O&M

Keppel Corp. has reached a deal to combine Keppel Offshore & Marine with Sembcorp Marine to form a global player focused on offshore renewables, new energy and cleaner services in the offshore and marine sector, the two companies said in a filing to SGX Wednesday. Both Keppel and SembMarine requested the trading halts on their shares be lifted.

ESR-REIT reports 1Q22 net property income dropped 10 percent

ESR-REIT reported Wednesday its first quarter net property income dropped 10.4 percent on-year to S$39.5 million, mainly on higher utilities expenses as global energy prices surged and on higher electricity demand.

Frasers Centrepoint Trust posts fiscal 1H net property income rose 4 percent

Frasers Centrepoint Trust reported Wednesday its fiscal first half net property income rose 3.8 percent on-year to S$130.48 million on lower property expenses as allowances for doubtful debts declined. The results beat a forecast from Daiwa.

ST Engineering prices US$700M notes due 2027

ST Engineering, via wholly owned subsidiary ST Engineering Urban Solutions USA, has priced US$700 million noted due 2027 at 3.375 percent, the company said in a filing to SGX Wednesday.

AIMS APAC REIT reports fiscal 2H net property income rose 17 percent

AIMS APAC REIT reported Wednesday its fiscal second half net property income rose 16.6 percent on-year to S$55.48 million on the acquisition of the Woolworths headquarters in Australia in November, as well as higher rental and recoveries for some Singapore properties.

CICT completes acquisition of 79 Robinson Road stake; enters deal to acquire car park system at property

CapitaLand Integrated Commercial Trust (CICT) has completed the acquisition of 70 percent of Southernwood Property (SWP), which holds the property at 79 Robinson Road in Singapore, the REIT said in a filing to SGX Wednesday.

Briefs

Singapore company briefs: HRnetGroup, AIMS APAC REIT, Oxley Holdings and Ntegrator International. Read more.