Stocks to watch: CICT, KIT, KORE, Hwa Hong, Samudera Shipping, UOI, Lian Beng
Vivienne Tay
THE following companies saw new developments that may affect trading of their securities on Thursday (Jul 28):
CapitaLand Integrated Commercial Trust (CICT) : The trust on Thursday posted a 0.8 per cent increase in distribution per unit (DPU) to S$0.0522 for H1 ended June. This was amid an income boost from Singapore’s reopening and portfolio reconstitution efforts. CICT closed flat at S$2.14 on Wednesday.
Keppel Infrastructure Trust (KIT) : The trustee-manager on Wednesday reported a 2.7 per cent year-on-year increase in its DPU for the half year ended Jun 30, despite a lower distributable income for the same period. DPU in H1 was S$0.0191, up from S$0.0186 in the year-ago period, KIT’s unaudited results indicated. KIT closed flat at S$0.58 on Wednesday, before the announcement.
Keppel Pacific Oak US Reit (KORE) : The real estate investment trust (Reit) posted a 5.4 per cent rise in distribution income for H1 2022 to US$31.5 million from US$29.9 million a year prior. DPU, however, fell 4.4 per cent from US$0.0316 to US$0.0302 as the manager took all of its base fee in cash rather than in units. KORE closed 0.7 per cent or US$0.005 lower at US$0.69 on Wednesday, before the announcement.
Hwa Hong : Sanjuro United, the bid consortium behind Hwa Hong’s privatisation offer, announced on Wednesday that it is now in possession of approximately 51.29 per cent of the total number of shares, which means the offer has now turned unconditional in all respects. Hwa Hong ended Wednesday’s trading session up 1.3 per cent or S$0.005 at S$0.395, before the announcement.
Samudera Shipping Line : The mainboard-listed group on Wednesday reported a 367.6 per cent surge in H1 2022 earnings to US$171.7 million from US$36.7 million a year prior. The directors also declared an interim dividend of S$0.07. Samudera Shipping closed 1.9 per cent or S$0.02 lower at S$1.02, before the announcement.
United Overseas Insurance (UOI) : The general insurance arm of UOB reported a loss of S$18.7 million for H1 2022 from its profit of S$27.2 million in H1 2021. The group’s board also declared an interim dividend of S$0.085 per share. UOI closed unchanged at S$6.69 on Wednesday, before the announcement.
Lian Beng Group : The mainboard-listed construction company reported a 66.7 per cent year-on-year surge in net profit of S$43.5 million for the financial year ended May 31, with activity across all business segments recording an improvement following the easing of Covid-19 restrictions. Lian Beng closed flat at S$0.50 on Wednesday, before the announcement.
