Stocks to watch: UOB, CapitaLand Investment, City Developments, Yangzijiang, Keppel Corp

THE following companies saw new developments that may affect trading of their securities on Thursday (Feb 23):

UOB : The bank on Thursday reported a 24 per cent climb in profits as it made S$2.6 billion in the second half of the year ended Dec 31, 2022, up from S$2.1 billion in the year-ago period. Full-year profits stood at S$4.6 billion, 12 per cent higher than the S$4.1 billion recorded in FY21, slightly below consensus estimates of S$4.7 billion. UOB rose 1.1 per cent or S$0.34 to S$30.99 on Wednesday.

CapitaLand Investment (CLI): The real estate investment manager on Thursday reported a 33.8 per cent drop in net profit to S$428 million for the six months ended Dec 31, 2022, compared with S$647 million the year before. This came as the group had lower gains from the revaluation of investment properties and asset recycling. Separately, the group said it has committed S$1.1 billion in equity for a new programme to invest in “special situation opportunities” in China. CLI closed 0.8 per cent or S$0.03 higher at S$3.85 on Wednesday.

City Developments Limited (CDL): The property developer’s net profit rose 42 per cent year on year to S$165.8 million for the half-year ended December 2022, when the group completed the collective sales of Tanglin Shopping Centre and Golden Mile Complex. Its board on Thursday recommended a final dividend of S$0.08 and a special final ordinary dividend of the same amount, bringing the total cash dividend for FY2022 to S$0.28. Shares of CDL closed Wednesday, S$0.07 or 0.9 per cent higher at S$7.95.

Yangzijiang Shipbuilding : The mainboard-listed Chinese company on Thursday posted an H2 net profit of S$1.4 billion yuan (S$272.3 million). This was down 30 per cent from 2.1 billion yuan the previous year in the absence of profit from discontinued operations, following the spin-off and listing of Yangzijiang Financial Holding. Separately, the group said it was acquiring a company which has a 45 per cent equity interest in Jiangsu Yangzi Jiasheng Terminal for 430.1 million yuan. Shares of the group closed S$0.04 or 3.1 per cent higher at S$1.35 on Wednesday.

Keppel Corporation , Sembcorp Marine (Sembmarine): Shares of Keppel will trade ex-distribution when the market opens on Thursday. This means those who buy the stock from Thursday will no longer be entitled to the distribution in specie of 19.1 Sembmarine shares per Keppel share held. Shares of Keppel closed 2.8 per cent or S$0.20 higher at S$7.34, while shares of Sembmarine closed 4.7 per cent or S$0.006 higher at S$0.134, before the announcement.

SBS Transit : The transport operator’s net profit for its half-year ended Dec 31, 2022 has more than doubled, rising by 120.2 per cent to S$33.4 million, from S$15.2 million in H2 2021. This came on the back of increased demand for its services as Singapore emerged from the Covid-19 pandemic in 2022, SBS Transit said on Wednesday. Shares of SBS Transit closed 1.6 per cent or S$0.04 higher to S$2.60, prior to the announcement.

Boustead Singapore , Boustead Projects : Engineering services company Boustead Singapore on Wednesday said it will raise the offer price to take its real estate subsidiary Boustead Projects private to S$0.95 per share from S$0.90 previously, with the revised offer price final. This comes after investor protests on undervaluation. Shares of Boustead Singapore and Boustead Projects closed at S$0.86 and S$0.99 respectively on Tuesday, before a trading halt was called on Wednesday morning. Both groups resume trading on Thursday.

TalkMed Group : The healthcare services provider’s net profit for the second half ended Dec 31, 2022 rose 28.7 per cent to S$18.4 million, from S$14.3 million in the same year-ago period. This was mainly due to an improvement in oncology patient numbers – who came from around the region – following the easing of pandemic measures in Singapore last year, TalkMed said on Wednesday. The counter closed unchanged at S$0.40, prior to the announcement.

United Hampshire US Real Estate Investment Trust (United Hampshire US Reit): Its manager on Wednesday posted a distribution per unit (DPU) of US$0.0297 for the second half ended Dec 31, 2022, down 2.6 per cent from DPU of US$0.0305 in H2 2021. This comes despite the Reit reporting higher revenue. Units of the trust closed 1 per cent, or US$0.005 higher at US$0.505, before the announcement.

ARA US Hospitality Trust (ARA H-Trust): The stapled group on Thursday posted a distribution per stapled security of 1.627 US cents for the second half ended Dec 31, 2022, higher than the 0.355 US cents reported in the year-ago period. This came as revenue and net property income improved, leading to a higher distributable income. The counter closed 1.3 per cent or US$0.005 higher at US$0.385 on Wednesday.