You are here
Stocks to watch: CapitaLand, Raffles Medical, OUE Lippo Healthcare, Healthway Medical, CSC, Pan Hong
Stocks to look out for on Monday morning trading include CapitaLand and Raffles Medical Group.
CapitaLand: CapitaLand's serviced residence arm The Ascott Limited is stepping up its presence in Singapore with new contracts to manage two properties in the CBD and the new Ophir-Rochor Corridor. Both properties will operate under the Citadines brand, The Ascott said on Monday. The addition of Citadines serviced residence in Raffles Place and Citadines Rochor Singapore, which will offer a total of over 600 units, more than doubles Citadines' portfolio in Singapore to over 900 units. They are slated to open in 2021 and 2020 respectively.
Raffles Medical Group: Raffles Medical Group reported a one per cent growth in net profit to S$16.4 million for the third quarter as lower renewal rates for expatriate plans offset higher local patient loads at the hospitals. On a per-share basis, net profit was unchanged at 0.93 Singapore cent for the three months ended September, the hospital and clinic operator announced before the market opened on Monday. Revenue increased marginally by 0.3 per cent to S$119.6 million. Hospital services' contribution rose 3.1 per cent on the back of higher local patient load, but healthcare services revenue slipped 4.2 per cent due to lower renewal of international healthcare plans for expatriates.
Meanwhile, trading of shares in some companies may be affected by profit warnings. Three companies have warned of losses in the upcoming results.
They are engineering services firm CSC Holdings, and healthcare firms OUE Lippo Healthcare (formerly International Healthway Corporation) and Healthway Medical Corporation. Healthway Medical blamed a "challenging operating environment and increase in finance costs; OUE Lippo Healthcare blamed operating costs while CSC offered no reasons. OUE Lippo Healthcare also said on Monday that it has been notified of a new legal action from David Lin Kao Kun in Shanghai against the company's downstream subsidiaries in China.
Separately, Pan Hong Holdings Group said on Monday that its 73 per cent subsidiary Sino Harbour Holdings expects to record a significant decline in its profit or even a loss for the six months ended Sept 30 as compared to the same period last year, based on the preliminary assessment by the Board of the unaudited consolidated management accounts.