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Stocks to watch: CapitaLand, CDL, SPH, Fragrance, First Resources

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

CapitaLand: Net profit nearly doubled to S$926.6 million for the property giant for the fourth quarter last year, amid better operating performance, higher gains from asset recycling and revaluation of investment properties. Separately, CapitaLand on Wednesday also announced it has acquired a freehold business park in the UK for £126.7 million (S$222.4 million). Shares of CapitaLand closed at S$3.72 on Tuesday, up S$0.05 or 1.4 per cent.

City Developments Limited (CDL): The property and hotels group on Wednesday posted a 12.5 per cent rise in net profit to S$87.7 million for the fourth quarter ended Dec 31, up from S$77.9 million a year ago. This was thanks to increased revenue contribution across its core business segments. CDL shares closed at S$10.66 on Tuesday, up S$0.17 or 1.6 per cent. 

Singapore Press Holdings (SPH): SPH will acquire six aged care assets in Canada for C$232.9 million (S$244.5 million) as part of its strategy to acquire cash-yielding assets in defensive sectors, the media and property group announced on Wednesday morning before the market opened. The counter was flat at S$1.97 at Tuesday’s close.

Fragrance Group: Net profit sank 70.1 per cent for the real estate developer during the full year ended Dec 31, 2019, to S$79.9 million, from S$267.2 million a year ago. Fragrance shares ended trading unchanged at S$0.137 on Tuesday.

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First Resources: The Indonesian palm oil producer’s net profit surged 84.6 per cent to US$32 million for its fourth quarter, boosted by higher production and sales volumes, the mainboard-listed firm said in results released on Wednesday. Shares of First Resources fell S$0.06 or 3.5 per cent to close at S$1.65 on Tuesday.

Straits Trading: Its Q4 net profit more than doubled to S$29.7 million, largely contributed by its real estate segment. The group continues to "exercise prudence when considering new investments" amid the growing scale of the novel coronavirus, Straits Trading said on Tuesday. The counter closed flat at S$2.06 on Tuesday, before the results were released.

Darco Water Technologies: The mainboard-listed firm on Tuesday evening flagged that its revenue for the current fiscal year ending Dec 31, 2020 will be significantly impacted by the Covid-19 outbreak, due to control measures in Wuhan preventing operations from resuming at its subsidiary there. Darco shares last traded flat at S$0.131 on Feb 17.

Dyna-Mac Holdings: Mainboard-listed offshore oil and gas contractor Dyna-Mac has secured an in-principle award of fabrication contracts totalling about S$18 million, it said on Tuesday after trading hours. Dyna-Mac shares closed up 0.8 Singapore cent or 6.5 per cent to 13.1 cent on Tuesday.

Sakae Holdings: Partial returns of equity investments in two companies resulted in a significant decrease in fair value of those investments in Sakae’s latest financial results, the company said on Tuesday in response to queries from the Singapore Exchange. Sakae shares last traded flat at S$0.08 on Feb 11.

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