Eagle Hospitality Trust reported Wednesday its 3Q19 net property income came in at US$20.07 million, 2.7 percent below the forecast from its IPO prospectus.
Hospitality & Tourism
City Developments reported Tuesday its third quarter net profit dropped 33.7% on-year to S$114.96M on costs related to delisting M&C and on lower revenue.
These are Singapore companies which may be in focus on Monday, 11 November 2019: Keppel, CapitaLand, Venture, Far East Orchard, Yoma and Nordic.
Far East Orchard said Friday acquired two student accommodation properties in the U.K. for 66.5 million British pounds, or around S$115.7 million.
Genting Singapore reported Thursday its third quarter net profit dropped 24 percent on-year to S$158.87 million on higher depreciation costs.
ARA US Hospitality Trust reported Wednesday its 3Q19 net property income came in at US$13.50M, missing the US$17.33M forecast from its IPO prospectus.
ARA US Hospitality Trust said Wednesday it entered a deal to acquire a portfolio of three U.S. Marriott-branded hotels from Concord Hospitality for US$84.5M.
Far East Orchard reported Tuesday its 3Q19 swung to a net loss of S$406,000 from a year-earlier net profit of S$564,000 as currency exchange losses widened.
These are Singapore companies which may be in focus Monday, 4 November 2019: Ascendas REIT, CityDev, IREIT, OCBC and Lendlease Global Commercial REIT.
Sengkang Grand Residences, a joint project between CapitaLand and CityDev, met with strong demand on its launch weekend, the developers said Sunday.
Daiwa downgraded Ascott Residence Trust to Hold from Outperform, saying the unit price looks fairly valued after climbing so far this year.
Two of Eagle Hospitality Trust’s large unitholders sold part of their stakes, while stil considered substantial stakeholders, filings to SGX said Friday.
Ascott Residence Trust said Thursday it has divested its stake in the Somerset West Lake Hanoi serviced residence property in Vietnam.
Frasers Hospitality Trust reported Wednesday its fiscal 4Q net property income rose 2.3% on-year to S$30M despite the impact of weaker overseas currencies.
CDL Hospitality Trusts reported Wednesday its 3Q19 net property income fell 1.5 percent on-year to S$35.67 million. The results missed a Daiwa forecast.
Ascott Residence Trust said Wednesday its 3Q19 gross profit rose 1% on-year to S$65M on changes to accounting for leases, partly offset by lower revenue.
These are Singapore companies which may be in focus on Wednesday, 30 October 2019: SATS, Sembcorp, Ascendas Hospitality, Starhill Global REIT and Ezion.
Chip Eng Seng reported Tuesday its 3Q19 net profit tumbled 74.3 percent on-year to S$4.68 million on a lower contribution from property development.
Ascendas Hospitality Trust reported Tuesday its fiscal 2Q net property income rose 3.5% on-year to S$21.2M on the acquisitions of hotels in Japan and Seoul.
Even if Eagle Hospitality Trust loses the income from its Queen Mary property, the unit price will likely still have upside, UOB KayHian said Friday.
Genting Singapore’s stock should trend up as Japan’s bidding process for gaming concessions heads toward a conclusion next year, UOB KayHian said Friday.
Eagle Hospitality Trust confirmed Monday that neither the REIT nor its sponsor, Urban Commons, were in default of the terms of the lease for the Queen Mary.
These are Singapore companies which may be in focus on Friday, 25 October 2019: SGX, Hyflux, GuocoLand, Eagle Hospitality Trust, Oxley, Sabana REIT and JUMBO.
Eagle Hospitality Trust rebutted Thursday claims in an Edge Singapore article that the Queen Mary has fallen into structural disrepair and could be found in default.
These are Singapore companies which may be in focus on Thursday, 24 October 2019: CapitaLand, City Developments, AIMS APAC REIT, ST Engineering and Hyflux.
Wing Tai Holdings reported Wednesday its fiscal 1Q net profit jumped 209 percent on-year to S$6.85M amid higher contributions from development properties.
CapitaLand and City Developments said Wednesday the preview of their Sengkang Grand Residences project’s sales gallery will begin Friday.
These are companies which may be in focus in Singapore on Tuesday, 22 October 2019: Temasek, Keppel, SembMarine, ST Engineering, OCBC, Singtel and CapitaLand Mall Trust.
These are Singapore companies which may be in focus on Monday, 21 October 2019: AIMS APAC REIT and Ho Bee Land.
Genting Singapore could be a beneficiary of the months-long protests in Hong Kong, with Singapore likely to see more mainland tourists, RHB said Friday.
Chip Eng Seng said Monday its rights issue of 156.50 million shares had a total takeup of 53.15 percent, signaling weak demand.
Chip Eng Seng has entered a joint venture to acquire a leasehold interest in a lagoon in the Maldives, the Singapore company said in a filing to SGX Monday.
These are companies which may be in focus in Singapore on Monday, 14 October 2019: UOB, Lendlease Global Commercial REIT, Temasek, Keppel and Synagie.
Oxley said Monday it acquired the 60 percent of Pindan Group it didn’t already own to settle its claim over a failure to meet agreed performance targets.
Chip Eng Seng said Monday it entered a deal to acquire an around 38 percent stake in educational technology company Amdon Consulting for S$5.4 million.
WeWork’s turmoil has highlighted how the coworking segment has driven office demand in Singapore, potentially signalling tougher times ahead, DBS said.
These are Singapore companies which may be in focus on Monday, 7 October 2019: Keppel, Lendlease Global Commercial REIT, OCBC and Kingmen Creatives.
KGI started ARA US Hospitality Trust at Outperform, pointing to select-service hotels’ relatively strong growth rate and higher margins.
Chip Eng Seng has entered a deal to acquire Sembcorp Design and Construction from Sembcorp Industries for S$49.9 million, the two companies said Wednesday.
Genting Singapore has filed to issue as much as 350 billion yen in yen-denominated bonds in Japan, the integrated casino-resort operator said Monday.