Stocks to watch: DBS, Wilmar, Sheng Siong, Starhill Global Reit, CDLHT, CDL, Lum Chang Creations
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Apr 30):
DBS : The lender posted a net profit of S$2.93 billion for its first quarter ended Mar 31, up 1 per cent from S$2.9 billion in the year-ago period. The earnings beat the S$2.88 billion consensus forecast in a Bloomberg survey of six analysts and were due to strong wealth management performance. DBS also announced a total dividend of S$0.81 per share. The counter closed down 0.3 per cent or S$0.19 at S$56.56 on Wednesday.
Wilmar : The agribusiness group reported a 22.8 per cent decrease in net profit to US$265.6 million for the first quarter ended Mar 31, from US$343.9 million in the corresponding year-ago period. Revenue for the quarter grew 21.9 per cent to US$19.8 billion from US$16.2 billion in the year-ago period, it said on Wednesday. Shares of Wilmar closed up 1.3 per cent or S$0.05 at S$3.83 on Wednesday, before the results.
Sheng Siong : The supermarket operator recorded a 12.6 per cent increase in net profit to S$43.4 million for the first quarter ended Mar 31, from S$38.5 million the year before. Revenue grew 12.4 per cent to S$452.8 million, from S$403 million in the corresponding period last year. The counter closed at S$2.99 on Wednesday, down 0.7 per cent or S$0.02, before the results.
Starhill Global Real Estate Investment Trust (Reit) : The manager of the Reit posted a net property income of S$37.9 million for the third quarter ended Mar 31, unchanged from the previous corresponding period. The performance was supported by stronger contributions from Ngee Ann City in Singapore and Lot 10 in Kuala Lumpur, as well as the appreciation of the Australian dollar and Malaysian ringgit against the Singapore dollar, the manager said on Wednesday. Units of Starhill Global Reit fell 0.9 per cent to close S$0.005 lower at S$0.55 on Wednesday.
CDL Hospitality Trusts (CDLHT) : Its net property income was up 10.4 per cent at S$33.1 million for the first quarter ended Mar 31, from S$30 million in the same year-ago period. Based on a Thursday statement, revenue increased by 5.9 per cent on the year to S$67.1 million for Q1, driven by “broad-based growth” across a majority of its portfolio markets, apart from that of Japan and the Maldives. Stapled securities of CDLHT closed on Wednesday 1.2 per cent or S$0.01 lower at S$0.80.
City Developments Limited (CDL) : An ongoing strategic review conducted by CDL was “timely”, after the company went through “some difficulties” and internal disputes last year, said group CEO Sherman Kwek at a packed shareholders’ meeting on Wednesday. The review will be discussed at a May board strategy meeting, with the details expected to be revealed by end-June, he added. The counter ended Wednesday 1 per cent or S$0.08 higher at S$8.49, before the news.
Lum Chang Creations : Its board has proposed a bonus issue of up to 330 million ordinary shares, subject to regulatory and shareholder approval, which it will seek through an extraordinary general meeting on May 25. The proposed move aims to increase the group’s share capital base to reflect the growth and expansion of its business. The counter closed Wednesday flat at S$0.995 before the news.
