Stocks to watch: DBS, SGX, ARA entities, ESR-Reit, Sarine, Boustead Projects, Keppel

THE following companies saw new developments that may affect trading of their securities on Thursday:

DBS D05: The bank on Thursday morning said its Q2 net profit rose 37 per cent to S$1.70 billion as it joined its peers in posting a smaller allowance from the year-ago period. It declared a quarterly dividend of S$0.33 per share, restoring dividend payout to its pre-pandemic level. This brings its first-half dividend payout to S$0.51 per share. DBS closed on Wednesday up S$0.37 or 1.2 per cent at S$30.58.

SGX S68: The Singapore bourse on Thursday reported a H2 net profit of S$205.6 million, down 20.5 per cent from S$258.6 million the previous year. Its board has proposed a final quarterly dividend of 8 Singapore cents. If approved, this will bring total dividends for FY2021 to 32 cents a share, up from 30.5 cents per share last year. SGX ended Wednesday up S$0.12 or 1 per cent at S$12.05.

ARA Logos Logistics Trust K2LU, ARA US Hospitality Trust, Suntec Reit T82U, ESR-Reit J91U, Sabana Reit M1GU : Hong Kong-listed ESR Cayman said that it would be acquiring ARA Asset Management for US$5.2 billion. The combined entity will have assets under management of US$129 billion, making it the third-largest listed real estate investment manager globally. Before the announcement was made on Wednesday, units of ARA Logos closed down 0.6 per cent or 0.5 Singapore cent at 89 cents, while ARA US Hospitality Trust units closed down 0.9 per cent or 0.5 US cent at 53.5 cents. Suntec Reit, whose sponsor is ARA Asset Management, ended the day down S$0.01 or 0.7 per cent at S$1.44; ESR-Reit units closed up 2.3 per cent or S$0.01 at S$0.45; while Sabana Reit gained 1.2 per cent or 0.5 Singapore cent to close at 44 cents.

ARA US Hospitality Trust XZL (ARA H-Trust): The stapled group on Thursday posted a net property income of US$9.1 million for the six months ended June 30 amid recovery from the pandemic, as well as no distributable income after deducting reserves set aside for capital expenditure. Stapled securities of ARA H-Trust closed 0.9 per cent or 0.5 US cent lower to 53.5 cents on Wednesday.

Sarine Technologies U77: The diamond systems manufacturer posted a net profit of US$12.6 million for the fiscal first half, more than 10 times the US$1.2 million from a year ago thanks to a resurgence of manufacturing and retail activity, the company said on Thursday. Net profit for the six months ended June 30, 2021 translates to earnings per share of 3.6 US cents. Revenue was also up 60.5 per cent. Shares of Sarine Technologies closed on Wednesday at S$0.75, up S$0.01 or 1.4 per cent.

Boustead Projects AVM: The real estate solution provider's wholly owned subsidiary Boustead Projects E&C has been hauled to court for allegedly using unmanned drones at its construction sites without the relevant permits. Shares of Boustead Projects closed 0.8 per cent or S$0.01 lower at S$1.29 on Wednesday, before the announcement.

Keppel Corporation BN4: The conglomerate's subsidiary has entered into a joint venture (JV) with a Chinese developer to jointly manage investment properties with potential for asset enhancement initiatives in China. The JV is expected to generate stable and recurring income from the management of the developer's office and business park assets, said the group on Wednesday. Prior to the announcement, shares of Keppel closed S$0.13 or 2.4 per cent higher at S$5.58.

Frasers Logistics and Commercial Trust BUOU (FLCT): An estimated S$1.1 million of FCLT's distributable income for the nine months ended June 30 will be impacted by the Covid-19 pandemic, said the manager on Wednesday. This is mainly due to rental waivers and allowance for doubtful receivables. Units of FLCT ended Wednesday S$1.52, down S$0.01 or 0.7 per cent, before the business update was filed.

ST Engineering S63: The defence and technology group has set up a 50:50 JV with Temasek for freighter leasing. This will address the growing demand for freighter aircraft as e-commerce and air cargo volumes expand globally, said ST Engineering on Wednesday. Shares of group closed at S$4.01, up S$0.02 or 0.5 per cent, before the announcement was made.

Far East Orchard O10: The property player's net loss for the half year ended June 30 widened to S$1.9 million from S$853,000 the previous year as the pandemic continues to weigh on its hospitality business amid persistent lockdowns and border closures. Shares of Far East Orchard ended Wednesday flat at S$1.13, before the release of its latest set of financial results.

BRC Asia BEC: The steel solutions provider on Wednesday recorded a S$10.2 million net profit for Q3 ended June, reversing its loss of S$2.5 million a year ago. Revenue for the quarter surged due to the low base effect last year, when the "circuit breaker" to curb the spread of the coronavirus led to the suspension of construction activities. Prior to the announcement shares of BRC had ended the day at S$1.45, down S$0.01 or 0.7 per cent.

OKP Holdings (5CF): The construction player's net profit tumbled 39.4 per cent to S$976,000 for the half year ended June 30 from S$1.6 million in the previous year, due in part to lower payouts and rebates from the government. Shares of OKP closed on Wednesday at 19.1 Singapore cents, up 0.1 cent or 0.5 per cent, before the results were released.