Stocks to watch: DBS, OCBC, UOB, SPH Reit, HPL, MLT, Ascott Residence Trust

THE following companies saw new developments that may affect trading of their securities on Friday (Apr 29):

DBS : Singapore’s largest bank on Friday posted a net profit of S$1.8 billion for the first quarter ended Mar 31, 2022, down 10 per cent from the record S$2.1 billion posted a year ago. This was in line with a S$1.88 billion consensus estimate from analysts polled by Bloomberg. The bank’s shares ended Thursday 0.3 per cent or S$0.11 higher at S$33.01.

OCBC : The lender reported S$1.36 billion in net profit for the quarter to March, 10 per cent lower than the record earnings of S$1.5 billion a year ago, as the local bank's wealth management fees, trading income and life insurance profit slipped. OCBC shares rose by S$0.09 or 0.8 per cent to S$11.96 on Thursday at market close.

UOB : The bank has posted a Q1 net profit drop of 10 per cent on the year to S$906 million, as total income was impacted by market volatility. Its net profit for the 3 months ended Mar 31, 2022 was also 11 per cent lower quarter on quarter. UOB shares fell 1.4 per cent or S$0.42 on Thursday to close at S$30.14.

SPH Reit , Hotel Properties Limited (HPL): Cuscaden Peak will offer to acquire SPH Reit at S$0.9372 per unit, which is the minimum offer price required after adjusting for recent SPH Reit distribution. Shares of mainboard-listed HPL closed 0.9 per cent or S$0.03 higher at S$3.54 on Thursday, while SPH Reit units closed flat at S$0.975. SPH Reit’s manager called for a trading halt on Friday before the market opened.

Mapletree Logistics Trust (MLT): The manager on Thursday reported a distribution per unit (DPU) of S$0.02268 for the fourth quarter ended March, up 5 per cent from DPU of S$0.02161 in the year-ago period, despite an enlarged unit base. Units of MLT closed flat at S$1.78 on Thursday (Apr 28), before the announcement.

Ascott Residence Trust (ART): The real estate investment trust posted a 22 per cent on-year rise in its portfolio revenue per available unit to S$67 for its first quarter ended Mar 31, 2022. In a business update on Friday, its manager said this was driven by an increase in average daily rates and occupancy amid a pent-up demand for travel in March. Units of ART closed up S$0.01 or 0.9 per cent at S$1.15.

CDL Hospitality Trusts (CDLHT): The stapled group's net property income for the first quarter of this year grew 22.5 per cent to S$24.2 million, compared to the same period a year ago, driven by stronger contributions from its properties in the Maldives, the United Kingdom, Singapore and Germany, said CDLHT in a bourse filing on Friday. The price of its stapled securities fell 0.7 per cent, or S$0.01 to S$1.38 on Thursday.

Frasers Hospitality Trust (FHT): The hospitality trust’s distribution per stapled security for H1 2022 ended Mar 31 soared to S$0.007039 from S$0.00179 a year ago. This came on the back of improvements in its operating environment, following the relaxation of travel restrictions and widespread vaccination, coupled with lower operating costs due to optimised cost management. FHT’s stapled securities closed flat at S$0.655 on Thursday.

Japfa : The mainboard-listed agri-food company on Thursday posted earnings of US$17.3 million for the first quarter ended March, down 64.3 per cent from earnings of US$48.5 million in the year-ago period. The decline comes despite a 13 per cent increase in revenue to US$1.25 billion in Q1 on the back of higher sales volumes across all segments. Shares of Japfa closed S$0.005 or 0.8 per cent lower at S$0.615 on Thursday, before the announcement.