Stocks to watch: SIA, First Sponsor, Sasseur Reit, First Reit, TalkMed, UOI

THE following companies saw new developments that may affect trading of their securities on Wednesday (Feb 21):

Singapore Airlines (SIA): The national carrier recorded a net profit of S$659 million for the third quarter ended Dec 31, 2023, rising 4.9 per cent from S$628 million in the corresponding year-earlier period. The rise was driven by robust passenger demand after a rebound in North Asian markets, said the group on Tuesday. Shares of SIA closed up 1 per cent or S$0.07 at S$7.37, before the announcement.

First Sponsor Group : The property developer’s profits fell by 96.8 per cent to S$1.9 million for the second half ended Dec 31, 2023, from S$59.9 million a year earlier. This came as the group’s top line for the period also decreased 52.9 per cent year on year to S$147 million, from S$312.2 million. The company said on Tuesday that this was after revenue from the sale of properties and property financing fell. The counter ended unchanged at S$1.19, before the release of the results.

Sasseur Real Estate Investment Trust (Sasseur Reit): The Reit manager reported an 8.7 per cent year on year rise in distribution per unit (DPU) at S$0.01415 for the fourth quarter ended December. This was driven by an 81.7 per cent increase in the variable component of the rental income under the Reit’s entrusted management agreement model on the back of an 84.6 per cent increase in the portfolio’s outlet sales, said the manager on Wednesday. Its units closed on Tuesday up 0.7 per cent, or S$0.005, to S$0.68.

First Reit : The healthcare Reit manager on Tuesday posted a 6.1 per cent decrease in DPU to S$0.0124 from S$0.0132 for the second half ended Dec 31, 2023. The Reit’s full-year DPU is S$0.0248, which is lower than its DPU of S$0.0264 in FY2022. The decrease was due to a lower distributable income of S$51.4 million. Units of First Reit finished unchanged at S$0.265, before the results release.

TalkMed Group : The tertiary healthcare services provider on Tuesday posted a 2.8 per cent drop in earnings to S$17.9 million for the second half ended Dec 31, 2023, from S$18.4 million in the same period a year earlier. This was after higher impairment loss, other operating expenses and employee benefit costs. The group still recorded a revenue uptick of 4.2 per cent on-year to S$46 million, from S$44.1 million in H2 FY2022, due to an increase in oncology revenue from higher management fees. Shares of TalkMed closed flat at S$0.365, before the results were announced.

United Overseas Insurance (UOI): The general insurance arm of UOB reported a net profit of S$17.3 million for the second half of FY2023. This was down 6 per cent from a net profit of S$18.5 million for the same period a year earlier. Insurance revenue fell 14 per cent to S$48 million from S$56.1 million for the second half of FY2023 ended Dec 31, after the lower release of contractual service margin for services provided. UOI shares closed flat at S$6.13 on Tuesday, before the results release.

Dyna-Mac Holdings : The offshore oil-and-gas contractor posted a net profit of S$18.4 million for the second half of FY2023, up 84.7 per cent year on year. This was after revenue increased 21.2 per cent to S$202.9 million, said the group on Tuesday. The rise in revenue was due to improved efficiency which came after intensifying its land use, raising its productivity, and imposing tighter cost controls. Dyna-Mac’s shares closed flat at S$0.265 before the results were announced.