Stocks to watch: Singtel, Far East Hospitality Trust, Lendlease Reit, ThaiBev

THE following companies saw new developments that may affect trading of their securities on Tuesday (Feb 15):

Singtel: Z74 The telco on Tuesday posted a 23.8 per cent rise in net profit to S$734 million for its third quarter ended Dec 31, 2021, from S$593 million a year ago, mainly due to a net exceptional gain from the disposal of its 70 per cent stake in Australia Tower Network. Shares of Singtel closed flat at S$2.55 on Monday.

Far East Hospitality Trust (FEHT): Q5T The hospitality stapled group's manager on Tuesday declared a distribution per stapled security of S$0.0153 for H2 FY2021, up 10.9 per cent from the year before. The group's gross revenue also increased, up 6.9 per cent to S$41.7 million. Stapled securities of FEHT closed flat at S$0.57 on Monday.

Lendlease Global Commercial Reit (LReit): JYEU The real estate investment trust (Reit), which currently indirectly holds a 31.8 per cent stake in Jem mall, has proposed to acquire the remaining interest in the Jurong prime property at an agreed property value of S$2.079 billion, the manager announced late on Monday night. If the deal goes through, the Reit will come to own a direct 100 per cent stake in Jem, as well as attain 10.5 per cent distribution per unit accretion. Units of LReit closed down 0.7 per cent or S$0.006 at S$0.82 before the announcement.

Thai Beverage (ThaiBev): Y92 The beverage company reported on Monday an increase in its sales revenue for the first quarter ended Dec 31, 2021. Revenue was up 7.4 per cent to 77.1 billion baht (S$3.2 billion) on the back of the improving Covid-19 situation in Thailand that drove sales growth in all business segments. Shares of ThaiBev closed unchanged on Monday at S$0.66, before the business update.

NetLink NBN Trust: CJLU The fibre network infrastructure owner on Monday reported a 5.2 per cent year-on-year (yoy) drop in profit after tax to S$65.8 million for the 9-month period ended Dec 31, 2021. This comes even as revenue rose by 1.9 per cent or S$5.3 million yoy to S$281.6 million. Units of NetLink NBN Trust closed at S$0.97 on Monday, down 1 per cent or S$0.01, before the business update.

iFast Corporation: AIY The wealth management platform posted on Monday a net profit of S$7.2 million for the fourth quarter ended Dec 31, 2021, up 5.5 per cent from S$6.8 million in the year-ago period. A final dividend of S$0.014 per share has been proposed, up 40 per cent from the previous final dividend. Shares of iFast closed at S$6.18 on Monday, down 2.7 per cent or S$0.17, before the announcement was made.

Silverlake Axis: 5CP The technology, software and services company reported on Monday its profit after tax of RM59.6 million (S$19.2 million) for the second quarter ended December 2021, up 72 per cent from the year-ago period. Revenue grew 29 per cent to RM206.5 million on strong growth in project-related revenue segments. Shares of Silverlake Axis closed down 1.8 per cent or S$0.005 to S$0.27 on Monday before the announcement.

Civmec: P9D The construction and engineering group reported on Monday a 50.1 per cent increase in net profit for the first half of the fiscal year ended Dec 31, 2021. Net profit for the period rose to A$22.6 million (S$21.7 million), up from A$15 million in H1 FY2021. An interim dividend of A$0.01 was declared, unchanged from the previous year. Shares of Civmec closed down 5.2 per cent or S$0.035 at S$0.64 on Monday, before the financial statement was released.

Keppel Corporation: BN4 The conglomerate said on Monday that a wholly-owned subsidiary of Keppel Land, PT Kepland Investama, is in a civil action over ownership rights for land plots in Jakarta. Shares of Keppel closed at S$6.04 on Monday, down 0.3 per cent or S$0.02 before the announcement was made.

Singapore Press Holdings (SPH): T39 The company said on Monday that the court has made an order granting it leave to convene the Cuscaden scheme meeting. It added that the court also made an order on Monday granting leave for it to withdraw the application to convene the scheme meeting in relation to the Keppel scheme. Shares of SPH down 0.4 per cent or S$0.01 to S$2.32 on Monday before the announcement was made.

Trading halt: Catalist-listed communications company Addvalue Technologies A31 has called for a trading halt on Tuesday morning, pending the release of an announcement. Shares of the counter closed flat at S$0.013 on Monday.