Stocks to watch: DBS, CLI, SingPost, NetLink, The Hour Glass, Nanofilm Tech, SMG
Patricia Karunungan
THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 3):
DBS : The bank reported on Thursday a 32 per cent year-on-year rise in net profit for the third quarter, buoyed by higher net interest margins, healthy loan momentum and a stable fee income. It declared a dividend of S$0.36 per share for the period, bringing the dividend for the nine months ended Sep 30 to S$1.08 a share. The counter closed 0.5 per cent or S$0.16 higher at S$34.74 on Wednesday.
CapitaLand Investment (CLI): The property player announced on Thursday that it has established two onshore renminbi funds totalling around 4 billion yuan (S$796 million) to invest in business park opportunities in China. The funds will add over 8.2 billion yuan (S$1.6 billion) to CLI’s funds under management when fully deployed. Shares of CLI closed 0.7 per cent or S$0.02 down at S$3.08 on Wednesday.
Singapore Post (SingPost): Despite attaining a “record half-year revenue” of S$958.9 million, the postal service company reported on Thursday a loss of S$9.9 million for the first half of the fiscal year ended September 2022. This comes amid higher operating expenses and a higher put option redemption liability of S$21 million on Freight Management Holdings. Shares of SingPost closed 1.9 per cent or S$0.01 higher at S$0.55 on Wednesday.
NetLink NBN Trust : The fibre network infrastructure provider posted a 36.1 per cent jump in net profit to S$54.6 million for the half year ended Sep 30, compared to the same period last year. This came despite a slower rise in revenue, due to significantly lower operating expenses. NetLink reported a distribution per unit of 2.62 Singapore cents, up 2.3 per cent from a year ago. Its shares closed at S$0.865, down S$0.005 or 0.6 per cent.
The Hour Glass : It reported a 35 per cent jump in net profit for the six months ended Sep 30 to S$84.6 million, compared with the same period last year. Its revenue also rose 18 per cent to S$555.5 million, the luxury watch retailer shared on Wednesday. Earnings per share jumped 41 per cent to 12.58 cents, and the company has approved an interim dividend of 2 cents per ordinary share. The Hour Glass shares closed at S$1.97, up 0.5 per cent or S$0.01, ahead of the news.
Nanofilm Technologies : The advanced materials and coatings specialist’s revenue grew 10 per cent year on year for the nine months ended Sep 30. Its net profit for the half year ended Jun 30 also rose 5.1 per cent to S$18.8 million. The growth came despite a challenging operating environment, said the mainboard-listed company on Wednesday. Nanofilm shares closed at S$1.79, down S$0.08 or 4.3 per cent, before the news.
Singapore Medical Group (SMG): Top executives of the company have raised the offer price to take SMG private from S$0.37 to S$0.40 per share. SMG shared on Wednesday that the new offer represents a premium of approximately 16.8 per cent over the net asset value, and 357.1 per cent over the net tangible asset value per share as of Dec 31, 2021. Shares of SMG closed at S$0.38, up 4.1 per cent or S$0.02, before the announcement.
