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Stocks to watch: FCOT, SGX, SembMarine, SingPost
STOCKS to watch on Thursday include those that have released their quarterly earnings.
FCOT: Higher rentals from Alexandra Technopark and the first full quarterly contribution from an Australian property lifted Frasers Commercial Trust's (FCOT) showing for the first quarter ended December 2015. The trust posted a higher distribution per unit (DPU) of 2.51 Singapore cents for the first quarter from 2.46 Singapore cents a year ago.
SGX: Singapore Exchange's (SGX) net profit slipped 3.3 per cent to S$83.7 million in its second fiscal quarter as stockmarket activity slowed. The market operator posted profit of S$83.7 million, or 7.8 Singapore cents per share, for the three months ended December 2015. But for the first half of the fiscal year, net profit was up 11.5 per cent at S$183 million, or 17.1 Singapore cents per share. SGX will pay a dividend of five Singapore cents per share for the quarter.
SembMarine: Some active trading might continue for the offshore marine players amid a rumour that Sembcorp Marine (SembMarine) may be taken private by Sembcorp Industries and that this may eventually lead to a merger with Keppel Corp. On Tuesday, a Reuters article cited sources as saying that Sembcorp Industries may inject funds into SembMarine or buy full control of the drilling rig builder to replenish finances strained by a collapse in oil prices.
SingPost: Singapore Post (SingPost) shares could see some pressures as the spotlight continues to be cast on its special audit and its appointment of PricewaterhouseCoopers (PwC) as the special auditor, rather than its burgeoning e-commerce business.