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Stocks to watch: Jardine Matheson, Hongkong Land, FLCT, SPH, Prime US Reit
THE following companies saw new developments that may affect trading of their securities on Friday:
Jardine Matheson Holdings: It reported declining net profits for the third quarter of 2020 from a year ago. Compared with Q2 however, the group saw improvement in many of its businesses, thanks in part to government support, according to an interim management statement on Thursday without specific numbers. The counter closed down 0.1 per cent or US$0.03 to US$45.80.
Hongkong Land: The mainboard-listed property developer's full-year underlying performance is expected to be moderately affected by a reduced contribution from its investment properties portfolio, according to an interim management statement on Thursday. Hongkong Land shares closed at US$3.90 on Thursday, up 1 per cent or US$0.04.
Frasers Logistics & Commercial Trust (FLCT): Its distribution per unit rose 5.5 per cent to 3.65 Singapore cents for its second half ended Sept 30, from 3.46 cents a year ago, its manager said on Friday morning. FLCT units rose S$0.04 or 3 per cent on Thursday to close at S$1.37.
Singapore Press Holdings (SPH): The media and property company said on Thursday the hearing date of applications to extend the interim judicial management order made against two of its subsidiaries have been fixed on Feb 1, 2021. SPH shares closed at S$1 on Thursday, up 0.5 per cent or 0.5 Singapore cent, before the announcement.
CapitaLand Retail China Trust (CRCT): The real estate investment trust's (Reit) manager proposed to buy five business park properties and the balance 49 per cent interest in its Rock Square mall asset for an agreed property value of about 4.95 billion yuan (S$1.01 billion). CRCT units were trading up 1.6 per cent or S$0.02 to S$1.28 as at 10.08am on Friday.
Prime US Reit: The Reit manager reported a net property income of US$24.2 million for the third quarter, exceeding initial public offer projections by 9.8 per cent. Prime units closed one US cent, or 1.4 per cent higher at 74.5 US cents on Thursday, before the announcement.
UG Healthcare Corporation: The Catalist-listed glove manufacturer posted a net profit of S$22.7 million for the first fiscal quarter ended September which was 74 times that of the S$305,000 in net profit posted a year ago. The counter closed up 2.6 per cent or 2.5 Singapore cents to 98 cents on Thursday, prior to the results announcement.
DBS, UOB, OCBC: Shares of the Singapore banks climbed to multi-month highs after their third-quarter financial results exceeded expectations and signalled that the trio was withstanding the Covid-19 pandemic's impact on loan quality and the economy. On Thursday, shares of DBS closed up 88 cents or 4.08 per cent to S$22.43; those of OCBC gained 30 cents or 3.48 per cent to S$8.93. Shares of UOB rose 64 cents or 3.23 per cent, to end at S$20.44.