Stocks to watch: DBS, ThaiBev, Sats, Thomson Medical, EC World Reit

THE following companies saw new developments that may affect trading of their securities on Monday (Feb 13):

DBS Group : Singapore’s largest lender saw a 69 per cent year-on-year rise in net profit to a record S$2.3 billion for its fourth quarter ended Dec 31, 2022. This comes as the bank’s total income rose 41 per cent to a record S$4.6 billion on higher net interest income. Trading income and investment gains had also improved from a low base, DBS said in its earnings release on Monday. The counter closed 0.3 per cent or S$0.11 higher at S$36.03 on Friday.

Thai Beverage (ThaiBev): The mainboard-listed company recorded a 4.9 per cent year-on-year increase in sales revenue to 80.9 billion Thai baht (S$3.2 billion) in the first quarter ended Dec 31, 2022. ThaiBev said on Friday that this is in line with the reopening of Thailand and Vietnam. Shares of ThaiBev closed flat at S$0.70 on Friday.

Sats : Its joint venture company with Air India has been selected to design, build, finance, and operate an integrated multimodal cargo hub at India’s upcoming Noida International Airport. The terms of a concession agreement are expected to be finalised in the coming weeks, although Sats on Monday said there is no certainty such an agreement will be signed. The counter closed at S$3.03, down 0.3 per cent or S$0.01 on Friday.

Thomson Medical Group (TMG): The private healthcare provider reported an 82.6 per cent year-on-year jump in net profit to S$22.8 million in the half year ended Dec 31. Revenue for the period rose, particularly for its hospital and specialised services segment, due to the increase in overall patient loads and higher average bill sizes. Shares of TMG closed flat at S$0.072 on Friday.

EC World Real Estate Investment Trust (Reit): The manager said on Sunday that it has released a portion of its margin deposit – an aggregate of about 198.9 million yuan (S$38.9 million) – from escrow. The amount has been used to partially repay the outstanding mandatory repayment of its offshore and onshore bank loans. Units of EC World Reit fell 3.2 per cent or S$0.015 to close at S$0.455 on Friday.

Lippo Malls Indonesia Retail Trust (LMIRT): Moody’s recent downgrade of the trust’s corporate family rating, and the backed senior unsecured rating on its subsidiary’s bonds, could negatively affect distributions to holders of its units and perpetual securities. This is according to the manager, who on Monday said it continues to explore options and measures to maintain a sustainable capital structure and reduce the aggregate leverage of LMIRT. Units of the trust traded flat at S$0.034 at Friday’s close.

LHN : The catalist-listed company’s co-living brand will acquire the strata-titled GSM Building on Middle Road for S$80 million excluding the goods and services tax, the company said on Friday. The amount, less S$100,000 as a tender fee, is expected to be paid through internal sources of funding and bank borrowings. LHN has businesses in property, facilities management and logistics. LHN shares closed 1.7 per cent higher or S$0.005 on Friday at S$0.30. Meanwhile, shares of LHN Logistics dropped 9 per cent or S$0.014 on Friday to close at S$0.142 on a cum-dividend basis.

Lorenzo International : The furniture manufacturer has been directed by the Singapore Exchange Regulation on Friday to delist, given that it has not submitted any resumption proposal following its trading suspension in 2018. Trading in Lorenzo International shares has been suspended since Dec 14, 2018.