Stocks to watch: Genting, ST Engineering, Golden-Agri, Keppel Corp

THE following companies saw new developments that may affect trading of their securities on Monday (May 15):

Genting Singapore : The company, which owns Resorts World Sentosa, announced on Friday that its net profit more than tripled to S$129.2 million for the first quarter ended Mar 31, 2023, from S$40.4 million in the same period a year ago. Revenue for the period also grew, benefitting from the ongoing recovery of both regional travel and gaming demand. Shares of Genting Singapore closed S$0.01 or 0.9 per cent lower at S$1.11 on Friday, before the results were announced.

ST Engineering : The technology and engineering group on Monday reported revenue of S$2.3 billion for the first quarter, up 13 per cent from S$2 billion the previous year. This was amid growth in most business segments and contributions from its transportation solutions provider TransCore. The group will pay an interim dividend of S$0.04 on Jun 6, 2023. Shares of ST Engineering closed flat on Friday at S$3.65.

Emperador : The company recorded net income attributable to owners of 2.3 billion pesos (S$55 million) for the first quarter of 2023, a 10 per cent year-on-year increase. Revenues also rose 26 per cent year on year to 15.6 billion pesos, the company said in a bourse filing on Monday. Shares in Emperador closed at S$0.50 on Friday, down 1 per cent from S$0.505. 

Golden-Agri Resources : The palm oil company’s net profit for its first financial quarter ended Mar 31 fell 51 per cent to US$92 million, from US$188 million in the same period a year ago. This was due to lower, and more normalised, crude palm oil prices, the company said. Shares of Golden Agri rose 1.9 per cent or S$0.005 to end at S$0.27 on Friday, before the announcement.

Keppel Corporation : The company’s subsidiary Keppel Land has terminated an agreement to divest its 100 per cent equity interest in Flemmington Investments, which has a 42 per cent stake in a project company that holds the rights to develop a site of about 30 hectares in Ho Chi Minh City, Vietnam. The company said that the termination is not expected to have any material impact on the net tangible assets per share or earnings per share of the company for the current financial year. Shares of Keppel closed 0.5 per cent or S$0.03 lower at S$6.40 on Friday, before the announcement.

Cromwell European Real Estate Investment Trust (Cromwell E-Reit) : Its manager on Monday posted an indicative distribution per unit (DPU) for the first quarter ended March of 3.90 euro cents, down 5.8 per cent from 4.14 euro cents the previous year due to higher finance costs. Including divestment gains, indicative DPU would have been 4.12 euro cents or 2.4 per cent down year on year. Cromwell E-Reit closed S$0.01 or 0.5 per cent lower at S$2.25 on Friday.

SBS Transit : The public transport provider reported a 1.9 per cent improvement in net profit for the first quarter, with net profit for Q1 ended Mar 31 rising to S$15.8 million, from S$15.5 million in same period last year. This was on the back of improved ridership and higher revenue, despite an increase in operating costs, the company said. SBS Transit shares fell 0.4 per cent or S$0.01 to close at S$2.64 on Friday, before the announcement.

Geo Energy Resources : The Indonesia coal producer posted a 60.4 per cent fall in its net profit to US$16 million for the first quarter ended Mar 31, 2023, from US$40.5 million the year before; the result of lower sales volume and higher production cash costs, the company said. An interim dividend of S$0.005 per share was declared for the quarter, down from S$0.02 the year before. Shares of Geo Energy closed flat at S$0.29 on Friday, before the results were announced.