Stocks to watch: MIT, SIAEC, StarHub, SingPost, Oxley, Marco Polo Marine

THE following companies saw new developments that may affect trading of their securities on Friday (Feb 9):

Mapletree Industrial Trust (MIT): The real estate investment trust (Reit) has priced S$50 million notes with a fixed coupon rate of 3.751 per cent per annum. The notes, due February 2027, are to be issued on Feb 16, said its manager on Thursday. Proceeds from the notes issue will be used to refinance the Reit’s existing borrowings. Units of Mapletree Industrial Trust fell 1.2 per cent or S$0.03 to close at S$2.38, before the announcement.

SIA Engineering Company (SIAEC): The aircraft maintenance provider announced on Thursday that it will be selling its entire stake in Additive Flight Solutions, an aerospace additive company, to its joint-venture partner Stratasys for US$90,000. Stratasys, an additive manufacturing company, owns 40 per cent of Additive Flight Solutions, and will purchase the remaining 60 per cent owned by SIAEC. Shares of SIAEC closed flat at S$2.29 before the announcement.

StarHub : The mainboard-listed telco posted a net profit of S$72.9 million for its second half ended Dec 31, 2023, up from S$1.3 million the previous year. This came as revenue fell 0.1 per cent to S$1.3 billion. On Thursday, the company declared a final dividend of S$0.042 per share for H2 FY2023, bringing the full-year dividend to S$0.067 per share. This is higher than the S$0.05 per share of dividends distributed for FY2022. The counter closed flat at S$1.07, before the announcement.

Singapore Post (SingPost): The postal services provider’s group operating profit for the third quarter ended December fell 18.2 per cent on the year to S$27.7 million from S$33.9 million. This came as group revenue fell 8 per cent to S$455.4 million from S$495.1 million. Shares of SingPost closed S$0.005 or 1.2 per cent lower at S$0.405 on Thursday, before the update.

Oxley : The property developer posted a net loss of S$1.1 million for the first six months ended Dec 31, 2023, as opposed to a net profit of S$277,000 in the previous corresponding period. Its revenue fell 63 per cent to S$164.4 million from S$438.4 million, mainly due to lower revenue recognised from Singapore development projects. The counter ended Thursday flat at S$0.091, before the announcement.

Marco Polo Marine : The shipyard and marine logistics company posted a 75.8 per cent increase in its gross profit to S$11.6 million for the first quarter ended Dec 31, 2023, from S$6.6 million the year before. This was due to an uptick in its ship chartering business and a marginal decrease in its shipyard operations, said the company on Thursday. Shares of Marco Polo Marine closed S$0.002 or 3.6 per cent down at S$0.054, before the update.