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Stocks to watch: Great Eastern, Parkway Life Reit, IHC, Indiabulls, SIA
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Great Eastern Holdings: Great Eastern Holdings on Tuesday posted S$279.5 million in net profit for the second quarter ended June 30, more than double last year's S$102.2 million. Earnings per share came up to S$0.59, from S$0.22 the previous year. An interim one-tier tax-exempt dividend of 10 Singapore cents per ordinary share was declared for the financial year ending Dec 31, 2017, and will be paid on Aug 31.
Parkway Life Real Estate Investment Trust: Parkway Life Real Estate Investment Trust on Tuesday reported a 10 per cent year-on-year increase in distribution per unit to 3.32 Singapore cents for the second quarter ended June 30. The Reit attributed this to the asset recycling exercise completed in February 2017, through which divestment gains of S$5.39 million are being distributed equally over the four quarters of the financial year ending Dec 31.
International Healthway Corporation (IHC): The healthcare group is expected to report a net loss for its first quarter ended March 31, 2017, and second quarter ended June 30, 2017, based on a profit guidance released by the board on Monday. More details will be disclosed when the company announces its unaudited financial results on or before July 31, 2017.
Indiabulls Property Management Trustee Pte Ltd: The group's net property income was S$18.8 million for the quarter ended June 30, 2017, up 8 per cent from S$17.4 million a year ago. Distribution per unit for the first quarter was 0.192 Singapore cents, up from a loss of 0.182 Singapore cents in the same period last year.
Singapore Airlines Limited (SIA): SIA announced on Tuesday that two of its indirect wholly-owned subsidiaries, Scoot and Tiger Airways, have merged. Tiger Airways will continue as the amalgamated company and be renamed Scoot Tigerair Pte Ltd. The move is not expected to have any material impact on the financial performance of the company for the current financial year.