Stocks to watch: SIA, Hongkong Land, Jardine Matheson, UOB, Keppel, ThaiBev, Japfa

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

Singapore Airlines (SIA): Singapore’s flag carrier airline on Thursday reversed into the black as it posted an operating profit of S$556 million for Q1 FY2022 ended Jun 30 — the second-highest quarterly operating profit since Q3 FY2007/08. Shares of SIA closed up 0.2 per cent or S$0.01 to S$5.36 on Thursday.

Hongkong Land : The property play reported on Thursday an 8 per cent rise in H1 2022 underlying net profit to US$425 million from US$394 million a year ago, also reversing into the black with H1 earnings of US$292 million, compared to a loss of US$865 million a year ago. Its shares ended Thursday 1.4 per cent or US$0.07 lower at US$4.86.

Jardine Matheson : The conglomerate announced a 22 per cent increase in H1 2022 underlying net profit to US$747 million from US$615 million a year ago in a regulatory filing on Thursday. Revenue for the period grew 4 per cent to US$18.2 billion from US$17.5 billion a year ago. Shares of Jardine Matheson closed 1.5 per cent or US$0.82 higher at US$53.51 on Thursday.

Jardine Cycle & Carriage (Jardine C&C): The investment holding unit of Jardine Matheson Group reported on Thursday an improved H1 2022 underlying profit attributable to shareholders of US$522 million, a 51 per cent increase from US$346 million in H1 2021. The counter closed up 0.5 per cent or S$0.13 at S$27.25.

UOB : The bank’s net profit for the second quarter rose 11 per cent year on year, as margins improved and trading and investment income saw some recovery. On Friday, UOB declared a net profit for the 3 months ended June of S$1.1 billion, up from S$1 billion in the year-ago period. The earnings were in line with the S$1.1 billion consensus forecast in a Bloomberg survey of 4 analysts. UOB closed 0.9 per cent or S$0.26 higher at S$28.26 on Thursday.

Keppel Corporation : The home-grown multinational company posted a headline net profit of S$497.5 million for the first half of the year ended June, up 65.9 per cent from its earnings of S$299.8 million in the corresponding year-ago period. It said on Thursday that this was underpinned by profitability across all its segments, including the discontinued offshore and marine operations. Shares of Keppel ended Thursday at S$6.77, up 1.5 per cent or S$0.10.

Thai Beverage : The company may decide not to proceed with its proposed spin-off listing of BeerCo on the SGX mainboard, if the board deems it to not be in the interest of shareholders, it said in a Friday bourse filing. ThaiBev was responding to a recent international media report that the BeerCo listing has been “pushed back… to September-October subject to an improvement in market conditions”. The counter closed flat at S$0.64 on Thursday.

Japfa : The agri-food company on Thursday reported a 10.4 per cent increase in H1 2022 revenue to US$2.5 billion from US$2.3 billion a year ago. Net profit attributable to shareholders for the period fell 62.9 per cent to US$44 million from US$118.5 million in H1 2021. Japfa shares closed 4.3 per cent or S$0.025 higher at S$0.60 on Thursday.

Far East Hospitality Trust : The mainboard-listed stapled group saw its H1 distribution per stapled security (DPS) rise 40 per cent year on year to S$0.0154, though gross revenue for the first half of FY2022 slid 1.4 per cent from S$41.6 million to S$41 million, said its manager in earnings announcement on Friday. Its stapled securities ended Thursday’s trading session 2.4 per cent or S$0.015 higher at S$0.65. 

CDL Hospitality Trusts (CDLHT): The stapled group’s distribution per stapled security (DPS) rose by 67.2 per cent to 2.04 Singapore cents for its first half ended Jun 30, from 1.22 cents a year ago, as leisure demand accelerated incrementally in the second quarter. Net property income (NPI) collectively grew by S$16.9 million in the half year, said its manager in a bourse filing on Friday. Stapled securities of CDLHT closed at S$1.35 on Thursday, up S$0.03 or 2.3 per cent, before the announcement.

Frasers Hospitality Trust (FHT): The stapled group on Friday said it observed a sustained improvement in the markets it operates in the 9 months ended Jun 30. Notably, the UK market saw its revenue per available room (RevPAR) more than quadruple due to improvements in daily average rates and occupancy. FHT closed 0.7 per cent or S$0.005 higher at S$0.70 on Thursday.

Ascott Residence Trust : The return of global travel has lifted the fortunes of Ascott Residence Trust, as it recorded a 14 per cent rise in distribution per stapled security to S$0.0233 for H1 ended June on Friday. Revenue for the period rose 45 per cent year on year to S$267.4 million. The stapled securities closed at S$1.17 on Thursday, up 1.7 per cent or S$0.02.

Digital Core Reit (DC Reit): The pure-play data centre real estate investment trust (Reit) missed the mark in its H1 results as it posted a distribution per unit (DPU) of US$0.0206 for the first half of 2022. It had forecast a DPU of US$0.0209 for the half year ended Jun 30 when it made its trading debut on the Singapore Exchange on Dec 6, 2021. DC Reit units closed flat at US$0.825 on Thursday.

Starhill Global Reit : In a regulatory filing on Thursday, the Reit reported a 1.8 per cent increase in distributable income for FY2021/22 to S$89.8 million from S$88.2 million. Revenue for the period rose 2.8 per cent to S$186.4 million from S$181.3 million. Units of Starhill Global Reit closed up 1.7 per cent or S$0.01 to S$0.595 on Thursday.

Sheng Siong Group : The supermarket posted on Thursday a 2.2 per cent year-on-year increase in net profit to S$67.4 million in the first half of 2022, while revenue fell 0.7 per cent year on year to S$676.8 million for the 6 months ended Jun 30. Sheng Siong shares closed flat at S$1.60 on Thursday.