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Stocks to watch: M1, Keppel Infrastructure Trust, Keppel DC Reit, Pacific Radiance
The following stocks may be in focus on Tuesday:
M1: Higher depreciation and interest expenses led to a 4.8 per cent fall in M1's net profit to S$32.7 million for its third quarter ended Sept 30, 2017, the telco announced on Monday. Revenue held steady at S$251.6 million, one per cent higher than last year's S$249.1 million.
Keppel Infrastructure Trust: The manager of Keppel Infrastructure Trust (KIT) on Monday responded to a report in The Australian claiming that the trust's underwater cable linking Tasmania's hydro power-dependent grid to the mainland is up for sale. KIT said that as part of its ordinary course of business, Keppel Infrastructure Fund Management reviews its business strategies and portfolio regularly to achieve the best risk-adjusted returns for its unitholders.
Keppel DC Reit: Keppel DC Reit on Monday posted a 16.8 per cent rise in its Q3 distribution per unit (DPU) to 1.74 Singapore cents from 1.49 Singapore cents a year ago, as acquisitions and more rental income helped to lift earnings.
Pacific Radiance: Pacific Radiance is set to commence restructuring of S$100 million medium-term notes after receiving expressions of interests from potential investors and securing a temporary suspension on certain bank debt obligations. It said that it will convene an informal meeting in the next several weeks with holders of Series 001 4.3 per cent notes due 2018.
Hiap Seng Engineering Ltd: Hiap Seng Engineering Ltd said it has secured three contracts worth S$52 million in Singapore and Thailand.