Stocks to watch: Keppel Infrastructure Trust, SIA Engineering, Parkway Life Reit, Seatrium, Raffles Medical
THE following companies saw new developments that may affect trading of their securities on Monday (Jul 29):
Keppel Infrastructure Trust (KIT): The trust reversed into the red with a loss of S$23.9 million in the first half of 2024, from a profit of S$39.4 million in H1 2023. The business trust’s manager reported on Friday that revenue for the same time period fell 5.8 per cent to S$1 billion from S$1.1 billion a year prior. The fall was mainly driven by lower revenue from Ixom, the Australian business supplying chemicals, as well as distribution income from Aramco Gas Pipelines Company. Units of KIT closed up 1.1 per cent or S$0.005 to S$0.475 on Friday before the release of its results.
SIA Engineering Company (SIAEC): The aircraft maintenance provider reported a net profit of S$33.2 million for the first quarter ended Jun 30 of its 2024/25 financial year. This was up 23 per cent from S$27 million in the corresponding year-ago period. Demand for maintenance, repair and overhaul services remained healthy in the three months, SIAEC said on Friday. The counter closed at S$2.29, down S$0.02 or 0.9 per cent, before the announcement.
Parkway Life Real Estate Investment Trust (Reit): The healthcare-focused Reit posted a 3.5 per cent rise in distribution per unit to S$0.0754 for its first half ended Jun 30, from S$0.0729 in H1 2023. The manager of the Reit announced that revenue for the period fell 2.7 per cent to S$72.4 million, from S$74.4 million a year prior. Units of Parkway Life Reit closed Friday down 0.3 per cent or S$0.01 at S$3.58.
Seatrium : The offshore and marine specialist is expected to report a net profit for the first half of 2024 based on a preliminary review of its unaudited financial results, its board said on Monday. It plans to announce its H1 financials on Aug 2 before trading hours. The counter closed Friday up 2 per cent or S$0.03 at S$1.50.
Raffles Medical : The medical services provider on Monday posted a 48.8 per cent drop in net profit to S$30.6 million for the first half ended Jun 30, from S$59.9 million in the previous corresponding period. The weaker performance was due to the cessation of Covid-19-related activities, which were gradually discontinued in H1 2023, said the group. Shares of Raffles Medical closed 1 per cent or S$0.01 higher at S$1.02 on Friday.
