Stocks to watch: DBS, Genting, SIA, MLT, No Signboard, SBS Transit

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

DBS: Singapore's largest bank on Wednesday reported a net profit of S$1.01 billion for the fourth quarter ended Dec 31, 2020. This was a drop of 33 per cent year on year due to lower net interest margin and higher total allowances, which came in almost five times more than the year before. The board has declared a final dividend of 18 cents per share for the full year, in line with guidance from the Monetary Authority of Singapore for local banks to moderate dividends for FY2020. Shares of DBS closed S$0.22 or 0.9 per cent lower at S$25.93 on Tuesday.

Genting Singapore: Genting on Tuesday posted a 90 per cent plunge in full-year net profit to S$69.2 million, despite the group's efforts to contain costs and aid from the Singapore government amid the Covid-19 pandemic. Revenue for the year ended Dec 31, 2020 slumped 57 per cent to S$1.1 billion, while gross profit fell 77 per cent to S$231.9 million. The fall was largely attributed to regulatory restrictions, border closures and operating capacity curbs during the pandemic. Genting shares closed at 89 Singapore cents on Tuesday, up 0.5 cent or 0.6 per cent.

First Sponsor: The mainboard-listed property developer on Wednesday posted a 92.7 per cent fall in net profit to S$6.9 million for its fourth quarter ended Dec 31, 2020, from S$94.9 million a year ago. It also separately proposed to acquire a 95 per cent interest in a property development project in Panyu, Guangzhou for 1.56 billion yuan (S$323.3 million). Shares of First Sponsor closed at S$1.35 on Tuesday, down S$0.01 or 0.7 per cent.

Singapore Airlines (SIA): The airline said on Tuesday that it has reached agreements with Airbus and Boeing to revise its aircraft delivery schedule. Some of the planes in the group's book order will now be delivered over a longer period of time, which will allow SIA to defer more than S$4 billion in capital expenditure between FY20/21 and FY22/23 to later years. SIA shares closed S$0.06 or 1.4 per cent higher at S$4.39 on Tuesday.

Mapletree Logistics Trust (MLT): The trust secured its first green loan after two of its subsidiaries on Tuesday entered into an agreement for a S$200 million green revolving credit facility with OCBC. The loan will be used to finance working capital requirements that are in line with the eligibility criteria of MLT's green loan framework. Units of MLT ended trading on Tuesday at S$1.98, up S$0.03 or 1.5 per cent.

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Lendlease Global Commercial Reit: Its manager on Wednesday declared a H1 distribution per unit (DPU) of 2.34 Singapore cents, up 0.8 per cent from the previous year's DPU of 2.32 cents derived from annualised results. This was largely due to higher gross revenue driven by strengthening of the euro against the Singapore dollar for Sky Complex, as well as improved operational efficiency to reduce cost and conserve cash at 313@somerset. The counter closed S$0.01 or 1.3 per cent higher at S$0.78 on Tuesday.

No Signboard: The group sank further into the red after it posted a Q1 net loss of S$1.68 million on Tuesday, a 38.6 per cent drop from the year-ago period. Revenue saw a steeper decline of 58.8 per cent year on year to S$2.47 million. Shares of No Signboard closed unchanged at 3.5 Singapore cents on Tuesday, prior to the results announcement.

SBS Transit: Full-year net profit was down 2.9 per cent year on year at S$78.96 million, while revenue for the full year fell 14.8 per cent to S$1.23 billion. Revenue from its public transport services fell largely due to lower service fees from lower fuel indexation and operated mileage, coupled with lower rail ridership due to the pandemic. Shares of SBS Transit closed flat at S$2.96 on Tuesday, prior to the results announcement.