Stocks to watch: Singtel, Venture Corp, ARA H-Trust, YHI International, LHN 

THE following companies saw new developments that may affect trading of their securities on Monday (May 6): 

Singtel : The telecommunications giant’s Australian subsidiary, Optus, has named Stephen Rue as its new chief executive effective November 2024. Rue is currently CEO of Australia’s National Broadband Network. Optus’ interim chief Michael Venter – who stood in as interim after Kelly Bayer Rosmarin’s resignation – will continue in his role until Rue comes on board, said the company on Monday. Shares of Singtel ended on Friday flat at S$2.38.

Venture Corp : The technology solutions provider on Friday posted an 18.3 per cent decrease in net profit to S$60.1 million for the first quarter ended Mar 31, from S$73.6 million in the corresponding year-ago period. Meanwhile, its Q1 revenue fell 18.9 per cent year on year to S$666.7 million, from S$821.7 million previously. The counter closed S$0.25 or 1.8 per cent higher at S$14.46, before the financial results. 

ARA US Hospitality Trust (ARA H-Trust): The trust posted a net property income of US$6.4 million for Q1 ended Mar 31, a 1.1 per cent rise from the same period a year earlier. Gross revenue was a marginal 0.2 per cent higher at US$36.2 million for the fiscal quarter, while gross operating profit grew 2.1 per cent to US$10.7 million, from US$10.5 million. The trust’s manager on Friday said its portfolio was affected by disruptions to demand from weather and the earlier Easter holiday, with occupancy falling 2.2 percentage points to 59.5 per cent. Stapled securities of ARA H-Trust closed flat at US$0.28, before the update.

YHI International : The automotive group said on Friday that its subsidiary, YHI Corporation (Singapore), has been charged for allegedly failing to take reasonably practicable measures necessary to ensure the safety and health of an employee, who died as a result. The group added that YHI Singapore has appointed legal counsel to advise on the charge and will update shareholders when there are material developments. Shares of YHI International closed 3.1 per cent or S$0.015 higher at S$0.50, before the announcement. LHN : The real estate management services group said that it expects net profit to drop 28.6 per cent to no less than S$14.5 million for the first half ended Mar 31, from S$20.3 million in the previous corresponding period. In a profit guidance update released on Sunday, LHN attributed the lower net profit estimate to the absence of a one-off gain from the disposal of associate Getgo Technologies and a lower gain from net investment in subleases. Shares of LHN closed flat at S$0.33 on Friday.