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Stocks to watch: Keppel Reit, Keppel Infra, M1, SingPost, Hyflux, TA Corp
WITH trading on Tuesday likely to be subdued after an overnight retreat on European markets (the US market was closed for a holiday), earnings releases may continue to offer some short-term catalysts.
Those that fleshed out their latest quarterly results after market close on Monday included Keppel Reit, Keppel Infrastructure and M1.
Keppel Reit reported a rise in a distribution per unit (DPU) for Q4 ended Dec 31, 2016, to 1.68 Singapore cents, up from 1.51 Singapore cents in the previous year. The office landlord did not reveal any immediate plans to raise cash though its gearing is just below 40 per cent.
Keppel Infrastructure Trust declared on Monday a DPU of 0.93 Singapore cent for its third quarter ended Dec 31, 2015. Group revenue rose 33.8 per cent to S$160.5 million, while net profit attributable to unitholders returned to the black, with a profit of S$8.67 million. A year ago, it made net losses of S$10.7 million.
M1's net profit for the fourth quarter ended Dec 31, 2015, slipped 2.1 per cent to S$43.6 million, or 4.7 Singapore cents per share, amid a slowdown in handset sales. For the whole of 2015, net profit increased by 1.5 per cent to S$178.5 million, or 19.1 Singapore cents per share. The telco guided a "stable performance" for this year, with mobile data and fixed services expected to remain the key growth drivers.
Other corporate updates by some companies will likely set the tone for the trading of their shares.
Singapore Post (SingPost) signalled that it is gearing up for a global reach for its e-commerce services after combining its existing e-commerce division with two recent acquisitions to form a new business unit called SP Commerce. This unit includes US e-commerce provider TradeGlobal, which focuses on high-end apparel and beauty products, and US e-commerce logistics firm Jagged Peak, which serves the fast-moving consumer goods industry.
Hyflux reported a S$50.4 million contract win by its wholly owned unit Hydrochem Saudi Ltd to design, manufacture and supply a seawater reverse osmosis and sulphate removal facilities package in Khurais, Saudi Arabia, for Snamprogetti Saudi Arabia Co Ltd, a subsidiary of Saipem SpA.
Building contractor TA Corporation Ltd said on Tuesday that its wholly-owned subsidiary Tiong Aik Construction Pte Ltd clinched a S$94 million contract for the proposed educational institution building at Dairy Farm Road, Dairy Farm Heights and Dairy Farm Lane by German European School Singapore.