Stocks to watch: Singtel, ST Engineering, Clar, F&N, BRC Asia, Fu Yu, MM2 Asia, Japan Foods

THE following companies saw new developments that may affect trading of their securities on Friday (Feb 7).

Singtel : Its regional data centre arm, Nxera DCT, has secured a S$643 million, five-year green loan to finance the development of a 58 megawatt data centre in Singapore. The participating banks are DBS, OCBC, Standard Chartered, HSBC and UOB, said the telecommunications giant on Friday. Shares of Singtel ended Thursday 0.6 per cent or S$0.02 higher at S$3.23.

ST Engineering : The technology and engineering group announced on Thursday that it secured S$4.3 billion in new contracts in the fourth quarter of 2024, reflecting the group’s strong market position and continued demand for aerospace solutions, underpinned by strong aviation demand. Shares of ST Engineering closed 0.2 per cent or S$0.01 higher at S$4.83, before the announcement.

CapitaLand Ascendas Real Estate Investment Trust (Clar) : The distribution per unit of the trust for the second half ended Dec 31, 2024, was 3.2 per cent higher at S$0.07681, from the corresponding year-ago period, the manager said on Thursday. Distributable income rose 3.4 per cent year on year to S$338 million and will be paid on Mar 11, after the record date of Feb 14. Units of Clar closed at S$2.59, up 0.8 per cent or S$0.02, on Thursday before the results were released.

Fraser & Neave (F&N) : The beverage maker on Friday reported in a business update a net profit of S$52 million for the first quarter ended Dec 31, an 18.8 per cent increase from S$43.8 million in the same period the year before. Revenue went up 16.3 per cent to S$618 million from S$531.6 million in the year earlier. Shares of F&N closed 0.8 per cent or S$0.01 higher at S$1.27 on Thursday.

BRC Asia : The steel fabricator announced on Thursday that its profit after tax rose 13.9 per cent to S$19.5 million for the quarter ended Dec 31, despite revenue falling 12.4 per cent year on year to S$349.8 million. As at Dec 31, the company’s cash and cash equivalents stood at S$171.7 million. Its shares rose 1.1 per cent or S$0.03 to S$2.87, before the update.

Fu Yu Corporation : The components manufacturer said on Thursday that it received a second letter from Victor Lim, its largest shareholder, seeking to requisition an extraordinary general meeting (EGM) to vote on the removal and appointment of directors. This comes after the company announced that it would not convene the EGM he requisitioned in his first letter to the company, because its lawyers had advised that the requisition fell short of legal requirements. Fu Yu’s shares closed 1.6 per cent or S$0.002 lower at S$0.123 on Thursday, before the announcement.

MM2 Asia : The group’s cinema chain, Cathay Cineplex, has paid back S$12 million in rent owed, it said on Thursday. The S$2.7 million in rental arrears by Cathay Cineplex to the landlords of its two cinemas represents a quarter of the total payment it owed between Apr 1, 2020, and Jan 31, 2025. Shares of mm2 Asia closed 8.3 per cent or S$0.001 lower at S$0.011 on Thursday, before the announcement.

Japan Foods : The group sank into the red with a net loss of S$2.9 million for the nine months ended Dec 31, from a net profit of S$668,000 in the corresponding year-ago period. This was mainly due to higher operating expenses, attributed to an increased number of operating outlets in the 9M period, the group said on Thursday. Shares of Japan Foods closed 1.5 per cent or S$0.005 higher at S$0.335 on Thursday, before the announcement.