Stocks to watch: Lendlease Reit, StarHub, HPH Trust, F&N, UOI

Janice Tan

Published Wed, Feb 8, 2023 · 08:16 AM

Lendlease Reit's DPU rises 2.1 per cent to S$0.0245 from S$0.024 in H1 FY2023. PHOTO: BT FILE

THE following companies saw new developments that may affect trading of their securities on Wednesday (Feb 8):

Lendlease Global Commercial Real Estate Trust (Lendlease Reit): It posted a distribution per unit (DPU) of S$0.0245 for the first half FY2023 ended December 2022, up 2.1 per cent from S$0.024 in the corresponding period a year ago. The manager said on Tuesday that distributable income also rose while gross revenue more than doubled. Units of Lendlease Reit closed flat at S$0.735 on Tuesday.

StarHub : The mainboard-listed telecommunications company posted a 98.4 per cent decline in net profit to S$1.3 million for the second half of the year ended Dec 31, 2022, from S$81.4 million a year earlier. This came on lower profit from operations, including provisions for the company’s Dare+ transformation initiatives. StarHub’s shares closed flat on Tuesday at S$1.11.

Hutchison Port Holdings Trust (HPH Trust): It reported on Tuesday a DPU of HK$0.08 (US$0.01) for its second half ended Dec 31, 2022, unchanged from the same period a year ago. Revenue and other income for the full financial year fell, while total operating expenses rose. This resulted in operating profit falling 20.4 per cent to HK$4.3 billion. HPH Trust units closed flat at US$0.21 on Tuesday.

Fraser and Neave (F&N): The mainboard-listed drinks maker posted a 28.8 per cent year-on-year drop in net profit to S$28.6 million from S$40.2 million for its first quarter, despite higher revenue. Earnings also fell to S$0.02 in Q1 FY23 from S$0.028 in Q1 FY22 on a per-share basis. Overall, the beverages and dairies segments contributed most to the decline in the group’s profit before interest and taxes. F&N shares dropped 1.7 per cent or S$0.02 to close at S$1.19 on Tuesday.

United Overseas Insurance (UOI): The general insurance arm of UOB reported a 36.9 per cent decline in net profit on Tuesday to S$16.7 million for the financial year ended Dec 31, 2022. Net profit for H2 FY2022 also decreased while gross premium for the full year rose on the back of employers’ liability, marine classes of insurance and inward reinsurance. UOI shares closed 1.1 per cent higher or S$0.07 at S$6.50 on Tuesday.

Trading halt: Global Dragon (formerly known as TMC Education Corporation) requested a trading halt on Wednesday morning before early trade, pending the release of an announcement. Shares of Global Dragon last traded at S$0.105 on Feb 6.

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