Stocks to watch: Wilmar, SIA, Keppel Corp, Genting, StarHub, LMIRT

THE following companies saw new developments that may affect trading of their securities on Wednesday (May 4):

Wilmar International : The agribusiness giant on Friday saw its net profit climb 17.8 per cent to US$530.3 million for the first quarter ended March, on the back of strong performance in the plantation and sugar milling segment. Shares of Wilmar closed S$0.08 or 1.8 per cent higher at S$4.44 on Friday, before the announcement.

Singapore Airlines (SIA) : The national carrier on Tuesday reported that it would gradually reinstate pilots' basic pay following pandemic-era cuts, with the wage cuts to shrink every quarter until salaries are fully restored by the start of 2023. SIA shares ended 0.4 per cent or S$0.02 higher at S$5.50 on Friday.

Keppel Corporation , Keppel Reit : The manager of Keppel Reit on Apr 29 sold S$11.1 million worth of Keppel Reit units, Keppel Corp said in a bourse filing on the same day. This decreased the conglomerate’s interest in the Reit to 46.68 per cent from its previous 46.92 per cent. On Friday, shares of Keppel Corp closed 0.2 per cent or S$0.01 higher at S$6.87, while Keppel Reit units closed 0.8 per cent or S$0.01 lower at S$1.22.

Venture Corporation : The group recorded a 28.6 per cent increase in net profit to S$84 million for the first quarter ended March, from S$65.3 million in the year-ago period. Shares of Venture closed S$0.09 or 0.5 per cent higher at S$17.15 on Friday, before the announcement.

Genting Singapore : The integrated resort operator on Sunday appointed its president and chief operating officer Tan Hee Teck as the company’s chief executive officer with immediate effect. Shares of mainboard-listed Genting Singapore closed unchanged at S$0.81 on Friday.

StarHub : The mainboard-listed telco’s net profit slipped 2.6 per cent to S$29.7 million in Q1 2022, from S$30.5 million a year ago on inflation and higher fuel costs, it said in a bourse filing. StarHub shares closed 1.6 per cent or S$0.02 lower at S$1.26 on Friday.

Lippo Malls Indonesia Retail Trust (LMIRT) : The real estate investment trust's manager on Friday reported distribution per unit (DPU) of S$0.0009 for the first quarter ended March, up 12.5 per cent from DPU of S$0.0008 a year ago. The improved Q1 results were largely attributed to the easing of Covid-19 restrictions in Indonesia, which led to reduced rental or service charge discounts to tenants. Units of LMIRT closed S$0.004 or 7.1 per cent higher at S$0.06 on Friday.

ARA US Hospitality Trust (ARA H-Trust) : The trust on Wednesday posted net property income of US$5.3 million for its first quarter ended Mar 31, jumping from US$400,000 a year ago, as it recorded recovery across its portfolio. Gross revenue was also 68 per cent higher at US$32.8 million for the quarter. Stapled securities of ARA H-Trust closed flat at US$0.51 on Friday.

Dyna-Mac Holdings : The company, which fabricates topside modules and structures for the offshore oil and gas industry, on Wednesday said it obtained a contract with a provisional sum of S$180 million from a longtime repeat customer. Shares of mainboard-listed Dyna-Mac closed 1.6 per cent or S$0.002 lower at S$0.123 on Friday.