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Stocks to watch: CDL, SATS, ART, Singtel, Cromwell E-Reit, OCBC, Sembmarine
THE following companies saw new developments that may affect trading of their securities on Monday:
City Developments Limited: The group on Monday said it expects its pre-tax profit for the first half this year to "reduce substantially" from a year ago, dragged by its hotel operations segment amid the Covid-19 pandemic. The counter closed at S$8.71 on Thursday, down S$0.02 or 0.2 per cent.
SATS: The ground handler and food solutions provider recorded a net loss of S$6.3 million for the fourth quarter of FY 2020, against earnings of S$49.9 million a year ago, according to the financial results it released on Thursday. SATS shares ended S$0.01 lower at S$2.88 on Thursday before the financial results were announced.
Ascott Residence Trust (ART): The stapled group's distribution per stapled security (DPS) for the six months ended June 30 is expected to fall by 65 per cent to 75 per cent from the 3.43 Singapore cents recorded in the first half of 2019, the managers said on Monday. Stapled securities of ART closed at S$1.03 on Thursday, down S$0.01 or 1 per cent.
Singtel: South Korean e-commerce giant Coupang Corp is buying the software of Hooq Digital, the South-east Asian video streaming service owned by Singtel, Sony and Warner Bros that has filed for liquidation, according to people familiar with the deal, Bloomberg reported on Friday. Singtel shares ended S$0.01 or 0.4 per cent lower at S$2.51 on Thursday.
Cromwell European Real Estate Investment Trust (Cromwell E-Reit): The Reit has signed a heads of terms agreement with its sponsor and Stratus Data Centres, to co-invest directly into 50 per cent stakes in two European data centre projects, subject to various milestones. Units of Cromwell E-Reit closed flat at 42 euro cents on Thursday.
OCBC Bank: Mike Ng, head of structured finance and sustainable finance at OCBC, told The Business Times that the bank is expecting its value of sustainable financing loans in 2020 to be comparable to last year's commitment of over S$5 billion. OCBC shares closed at S$9.25 on Thursday, down S$0.08 or 0.9 per cent.
Sembcorp Marine: The group and its consortium partner have been picked by German utilities company RWE as the preferred suppliers of the electrical transmission system for one of the world's biggest offshore wind farms located at sea north-east of the United Kingdom. Shares of Sembmarine closed up 0.5 Singapore cent or 1.1 per cent to 45.5 cents on Thursday before the announcement.
OUE Lippo Healthcare: Two co-founders and shareholders of Catalist-listed International Healthway Corp, now known as OUE Lippo Healthcare, had engaged in "conspiracy by unlawful means" to cause the company injury, a Singapore High Court found on Thursday. The counter closed at 4.4 Singapore cents on Thursday, up 0.3 cent or 7.3 per cent, before the announcement.
Zheneng Jinjiang Environment: The mainboard-listed waste-to-energy company's chief executive Zhang Chao will step down on Nov 10, after three years with the company. Shares of Zheneng Jinjiang closed down S$0.01 or 1.7 per cent to S$0.59 on Thursday before the announcement.
Lippo Malls Indonesia Retail Trust (LMIRT): The manager on Saturday announced a further extension to the long-stop date for the proposed divestment of two Indonesia properties to July 17, 2020. The counter closed at 13.8 Singapore cents on Thursday, down 0.2 cent or 1.4 per cent.
Cortina Holdings, The Hour Glass Group: The luxury watch retailers are likely to show a drop in revenues when they next report their financials. But their latest numbers suggest both are resilient, with strong balance sheets and light demands on their cash holdings. Cortina shares closed S$0.03 lower at S$1.35 on Thursday, while The Hour Glass was up one Singapore cent at 68.5 cents.