Stocks to watch: ThaiBev, ComfortDelGro, SBS, IReit Global, Sunpower, Hatten Land

THE following companies saw new developments that may affect trading of their securities on Tuesday (May 17):

Thai Beverage (ThaiBev): The mainboard-listed beverages company’s net profit for the second quarter ended Mar 31, 2022 was up 20 per cent to 7.1 billion baht (S$285.6 million), from 5.9 billion baht previously. The improving Covid-19 situation in Thailand drove sales growth in all business segments, said ThaiBev in a bourse filing on Friday. ThaiBev’s shares closed up 1.5 per cent or S$0.01 on Friday at S$0.68, before the announcement.

ComfortDelGro: Transport heavyweight ComfortDelGro reported a 3.9 per cent uptick in revenue to S$895.9 million year on year, for their quarter ended Mar 31, 2022. The mainboard-listed company on Friday noted that ridership for public transport in Singapore is “slowly improving”, with rail ridership reaching about 65 to 70 per cent of pre-pandemic levels as at the end of March this year. Shares of ComfortDelGro rose S$0.02 or 1.4 per cent to finish at S$1.41 on Friday, before the business update.

SBS Transit: SBS Transit posted a profit after tax of S$15.5 million for the first quarter ended Mar 31, 2022, down 33.5 per cent from S$23.3 million in the corresponding period the year before. This was mainly due to higher operating costs, said the mainboard-listed transport operator on Friday. Shares of SBS Transit closed flat at S$2.87 on Friday, before the announcement.

IReit Global: The Europe-focused real estate investment trust (Reit) has secured a 6-year lease extension from its sole tenant at Bonn Campus in Germany for 100 per cent of the property starting from May 2023, announced its manager on Tuesday. Separately, on the same morning, the manager said it established a US$1 billion multicurrency debt issuance programme on Friday. Units of IReit Global last ended S$0.005 or 0.8 per cent higher at S$0.61 on Friday.

Sunpower Group: The mainboard-listed environmental engineering company on Friday said its net profit fell to 41.1 million yuan (S$8.4 million) for the 3 months to Mar 31, 2022, down by 51.8 per cent year on year. This is in spite of revenue growing 74.3 per cent to 738.5 million yuan on the back of higher capacity, new projects and an increase in the sales price of steam. Shares of Sunpower closed down 4.9 per cent or S$0.02 on Friday at S$0.385, before the results.

Hatten Land : The Catalist-listed developer on Saturday said its Q3 net losses narrowed to RM32.5 million (S$10.3 million) for the 3 months to Mar 31, 2022, compared with RM36.8 million in the year-ago period. Revenue rose by 26.4 per cent year on year to RM18.6 million, on the back of higher revenue recognised at a point in time from sales of development properties in Malaysia. Hatten shares closed down 2.8 per cent or S$0.001 on Friday at S$0.035.