Stocks to watch: SIA Engineering, Lendlease Global Reit, Paragon Reit, Riverstone, Plato Capital

THE following companies saw new developments that may affect trading of their securities on Tuesday (May 9): SIA Engineering Company : S59 0%: The aircraft engineering and maintenance provider reported a 20.4 per cent drop in net profit to S$33.9 million for the second half-year ended Mar 31, 2023, from S$42.6 million the year before. While revenue rose 43.4 per cent for the same period, expenditure also rose by 39.9 per cent due to the progressive step-down of government wage support, as well as higher manpower and material costs. Its shares closed on Monday unchanged at S$2.22, before the news.   

Lendlease Global Commercial Reit : JYEU 0% (Lendlease Global Reit): On Tuesday, the real estate investment trust (Reit) reported 99.8 per cent committed portfolio occupancy for the third quarter ended March 31, 2023, unchanged from the previous quarter. Its manager also noted in a business update that tenant sales in Q3 2023 were up 4.6 times, driven by the acquisition of Jem in April 2022. Units of Lendlease Global Reit closed flat at S$0.685 on Monday.

Paragon Reit : SK6U 0%: The Reit reported a 0.6 per cent year-on-year increase in its first-quarter gross revenue to S$72 million, from S$71.6 million in the year-ago period. The trust’s manager cited increased footfall as a result of easing pandemic restrictions as the contributing factor. Units of the Reit closed on Monday S$0.005 or 0.5 per cent higher at S$0.95, before the news broke.  Riverstone : AP4 0%: The Malaysian glove manufacturer posted a 57 per cent drop in net profit to RM46.7 million (S$13.9 million) for the first quarter ended Mar 31, 2023. This was largely due to an oversupply of healthcare gloves, volatile raw material prices, and an increase in overall production costs. Prior to the news, its shares closed on Monday down S$0.01, at S$0.585, a 1.7 per cent drop.  Plato Capital : YYN 0%: The enterprise software provider said on Monday that its 70 per cent-owned subsidiary has agreed to sell its 27 per cent stake in TYK Capital to a Singapore-based private equity firm for a consideration of RM120 million (S$35.8 million). The transaction is expected to result in a gain of around S$18.6 million for Plato Capital. The counter last traded at S$1.91 before it called for a trading halt on May 4. It resumes trading on Tuesday.