Stocks to watch: Singtel, CapitaLand Investment, StarHub, Food Empire, Far East Orchard

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

Singtel : The telco on Thursday posted a net profit of S$2.1 billion for the first half ended Sep 30, 82.6 per cent higher than the S$1.2 billion posted in the same period last year. This was supported by an exceptional gain from regional associate Telkomsel’s integration of IndiHome, a fixed broadband provider in Indonesia. Singtel’s shares closed 4.8 per cent lower, or S$0.12, to S$2.36 on Wednesday.

CapitaLand Investment (CLI): The property giant posted a 3 per cent drop in revenue to S$2.1 billion for the nine months ended Sep 30, as its real estate investment business recorded an 8 per cent decline in revenue. This was partially offset by a 9 per cent growth in its fee income-related business at S$799 million, said the manager on Thursday. CLI’s counter closed 1.3 per cent, or S$0.04 lower at S$3.04 on Wednesday.

StarHub : The mainboard-listed telco posted a 36.5 per cent rise in net profit to S$37.3 million for the third quarter ended Sep 30, up from S$27.4 million in the corresponding period a year earlier. This came as total revenue grew 5.3 per cent year on year to S$622.1 million from S$590.8 million a year ago. Shares of StarHub closed at S$1.05 on Wednesday, down 0.9 per cent or S$0.01, before the business update release.

Food Empire Holdings : The instant coffee manufacturer posted a 30.6 per cent decline in net profit to US$15.7 million for its third quarter ended Sep 30. The decrease was attributed to the absence of a one-off gain of US$15 million from the disposal of a non-core asset in Q3 2022, partly offset by better operating profits and lower foreign-exchange losses. Its counter closed at S$1.08 on Wednesday, down S$0.01 or 0.9 per cent, before the announcement.

Far East Orchard : The real estate group posted earnings of S$7.6 million for the first nine months ended Sep 30, up 18.8 per from S$6.4 million the year before, on the back of continued recovery in the hospitality sector. Revenue jumped 36.7 per cent to S$134.1 million for 9M FY2023, from S$98.1 million in the year-ago period. Its shares closed flat at S$1.03 on Wednesday, before the business update release.

Vicom : The vehicle inspection company posted a net profit of S$6.6 million for the third quarter ended September, up 1 per cent from S$6.5 million in the year-ago period. The marginal rise in net profit was a result of higher interest income, which was offset by lower operating profits, the group said on Wednesday. Shares of mainboard-listed Vicom closed 2.2 per cent or S$0.03 lower at S$1.38 before the business update release.

IReit Global : It reported a rebound in occupancy rates at 90.4 per cent for the third quarter, up from 88.7 per cent in the previous quarter. The manager attributed this to the addition of European discount retailer B&M’s portfolio of 17 properties, all of which are fully occupied, as well as higher occupancy among its Spanish properties. Its counter closed 1.4 per cent or S$0.005 lower at S$0.345 on Wednesday.

Valuetronics Holdings : The mainboard-listed electronics manufacturer on Thursday posted a 42 per cent increase in net profit for H1 ended Sep 30 to HK$82.1 million (S$14.3 million). It also declared an interim dividend of HK$0.04 cents per share and a special dividend of HK$0.04 cents per share. Shares of Valuetronics closed Wednesday up 2.9 per cent, or S$0.015 to S$0.54.

United Hampshire US Real Estate Investment Trust : Its manager announced on Thursday that net property income for the nine months ended Sep 30 rose 12.2 per cent on year to US$38.7 million, while gross revenue was up 11.7 per cent to US$54.4 million. Its counter closed flat at US$0.395 on Wednesday.

Yoma Strategic : Its H1 financials improved slightly, with net loss narrowing to US$2.5 million from US$8.5 million a year ago. Loss per share attributable to equity holders of the company stood at US$0.0012, compared with US$0.0039 loss in H1 last year. The counter closed Wednesday down 2.5 per cent, or S$0.002, at S$0.077.

Trading halt: Special purpose acquisition company Vertex Technology Acquisition Corporation called for a trading halt on Thursday morning, pending the release of an announcement. Its counter closed 0.6 per cent or S$0.03 lower at S$4.90 on Wednesday.