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Stocks to watch: China Everbright, IHH Healthcare, Keppel Reit, Uni-Asia, Casa
THE following companies saw new developments that may affect trading of their shares on Monday:
China Everbright Water: The company has secured two waste water treatment projects in China with a total investment of about 279 million yuan (S$54.2 million). For Dalian Zhuanghe Waste Water Treatment Project Phase II, the company has entered into a 20-year concession agreement with the Housing and Urban-Rural Development Bureau of Zhuanghe City, Liaoning. About 140 million yuan will be invested into the project. For the other project, Ju County Urban Waste Water Treatment Project, the company has inked a 25-year concession agreement with Ju County's Housing and Urban-Rural Development Bureau in Rizhao City, Shandong, and about 139 million yuan will be invested in it. The mainboard-listed firm's shares closed unchanged at S$0.315 on Friday.
IHH Healthcare: The global healthcare provider posted a net profit of RM236.3 million (S$77.37 million) for the third quarter to September, reversing from a loss of RM104.1 million a year ago, as a result of contribution from recently acquired hospitals, ramped-up operations and increased capacity. Correspondingly, earnings per share stood at 2.44 sen for the quarter, versus a loss per share of 1.53 sen a year ago. Its shares closed two Singapore cents or 1.1 per cent down at S$1.73 on Friday.
Keppel Reit: Keppel Reit Management's chief executive, Paul Tham, is open to stepping up development activity for the trust as part of its ongoing strategy to boost yields. One potential development opportunity in Singapore that could surface for Keppel Reit is if and when its sponsor, Keppel Land, decides to redevelop two freehold office towers in Hoe Chiang Road into a mixed development. Mr Tham said any development projects will be more of a medium to long-term benefit to Keppel Reit. In the more immediate term, growth is expected to come from positive rental reversion on its Singapore office portfolio, and through overseas acquisitions. Keppel Reit units closed down S$0.01 or 0.8 per cent to S$1.23 on Friday.
Uni-Asia Group: A fire broke out at the construction site of Uni-Asia Group’s office project in Hong Kong on Nov 28.The project, in which Uni-Asia has a 2.5 per cent effective interest, was expected to be completed by 2020. The superstructure construction stage had commenced in October 2019 and it was anticipated that the presale activity could be launched by the first half of 2020 and the units delivered to the buyers by the first quarter of 2021. Uni-Asia's shares closed unchanged at S$0.730 on Friday.
Casa Holdings: The company reported a 29.9 per cent decline to S$2.5 million in earnings for the year ended September. Revenue dropped by 6.4 per cent to S$18.6 million. Earnings per share came in at 1.29 Singapore cents from 1.84 cents for the year-ago period. No dividend was declared. Its shares closed up S$0.011 or 23.4 per cent to S$0.058 on Friday.