You are here

Stocks to watch: Great Eastern, Civmec, Keppel Reit, M1, SPH Reit, Keppel Infrastructure Trust

THE following stocks could see increased trading on Tuesday following material announcements before the beginning of trading.

Great Eastern Holdings said on Tuesday it has sold HK$4.31 billion (S$763 million) worth of shares in Hong Kong-listed China Life Insurance Company through its subsidiaries. This brings its stake in the insurance firm down from 8.22 per cent to 1.79 per cent.

Australian heavy engineering firm Civmec Limited on Tuesday said it plans to acquire PT Global Industries Asia Pacific and has begun its due diligence for the purchase. No acquisition sum was disclosed.

The sale of Prudential Tower late last year and lower rental support in the first quarter led Keppel Reit to post on Monday a distribution per unit (DPU) of 1.70 Singapore cents for the three months ended March 31, 2015. This was a 13.7 per cent drop from the 1.97 cents it paid a year ago.

Telco M1 on Monday reported a 6.6 per cent hike in net profit to S$45.7 million in its first fiscal quarter for 2015, which ended on March 31. This came on top of operating revenue of S$294.8 million, which was up 22.8 per cent over the S$240.2 million clocked in the year-ago quarter.

SPH Reit raised its distribution per unit by 0.7 per cent to 1.4 Singapore cents for its second fiscal quarter as rental income increased at its two retail properties, it said on Monday.

Keppel Infrastructure Trust on Monday reported a 23.1 per cent rise in earnings for the first quarter ended March 31 to S$4.3 million, as lower electricity and trust expenses outweighed the dip in revenue.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to