Stocks to watch: Keppel, First Resources, CICT, Hatten Land

THE following companies saw new developments that may affect trading of their securities on Monday (Nov 15):

Keppel Corporation: BN4 Its subsidiary Keppel Telecommunications & Transportation is fully divesting its 50 per cent stake in Wuhu Sanshan Port for 170 million yuan (S$36 million), the group disclosed in a bourse filing on Friday (Nov 12). Separately, on Monday, it was announced that KS Investments, a wholly-owned subsidiary of Keppel Offshore & Marine, is divesting its entire 51 per cent stake in each of Keppel Smit Towage and Maju Maritime, for an aggregate cash consideration of S$133 million. Keppel expects to recognise a divestment gain of around S$72 million from the deal. Shares of Keppel closed up S$0.01 or 0.2 per cent at S$5.29 on Friday (Nov 12), before both announcements.

First Resources: EB5 The palm oil producer on Monday reported an underlying net profit of US$52.8 million for the third quarter ended Sep 30, up 44.9 per cent from US$36.5 million the year before. The marked improvement in topline performance was driven by the higher average selling prices and stronger sales volume. Shares of the counter closed up 1.9 per cent or S$0.03 at S$1.60 on Friday.

CapitaLand Integrated Commercial Trust (CICT): C38U Its manager said on Friday that OGS LLP will divest its entire stake in One George Street to SG OGS, a private limited company, for S$1.28 billion, or approximately S$2,875 per square foot. CICT will receive approximately S$640.7 million, or 50 per cent of the consideration for the sale. Units of CICT rose S$0.02 or 0.9 per cent to close at S$2.17 on Friday, before the announcement.

Hatten Land: PH0 The Catalist-listed property developer on Sunday (Nov 14) posted a net loss of RM16 million (S$5.2 million) for the first quarter ended Sep 30, narrowing from RM16.6 million in the year-ago period. This translates to a loss per share of one sen. No dividend has been declared for this financial period. Shares of Hatten Land closed flat at 6.2 Singapore cents on Friday.

Addvalue Technologies: A31 The communications equipment company's net loss for the first half ending Sep 30 stood at US$1.1 million, narrowing from US$1.5 million in the same period last year, the mainboard-listed company said in a bourse filing on Sunday. Addvalue shares closed flat at 1.4 Singapore cents on Friday.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Bukit Sembawang: B61 The property developer reported on Friday that its net profit for the first half ending Sep 30 fell 28 per cent to S$53.4 million, from S$73.7 million the year before. Net cash used in financing activities amounted to S$175.8 million, mainly for dividend payments and full repayment of borrowings relating to The Atelier. The counter ended S$0.04 or 0.8 per cent lower at S$5.18 on Friday.

Bumitama Agri: P8Z The palm oil producer on Friday recorded 588.7 billion rupiah in net profit for the third quarter ended September, marking an all-time high as prices of the commodity boom globally. Shares of Bumitama Agri closed flat at S$0.555 on Friday, before the announcement.

UMS Holdings: 558 The investment holding company on Friday said that its net profit rose to S$15.1 million for the third quarter ended Sep 30, up 17 per cent from the S$12.9 million profit posted last year. It has proposed an interim dividend of S$0.01 per share for Q3 FY2021, up from S$0.005 per share in the same period last year. UMS shares rose 5.3 per cent or S$0.07 to close at S$1.38 on Friday, before the business update.

Boustead Singapore: F9D The engineering services group on Friday posted a 2 per cent drop in net profit to S$21.3 million for the half year ended September, due to the resumption of "more normalised" revenue recognition at its real estate unit Boustead Projects. The group has declared an interim dividend of S$0.015 per share, up from S$0.01 per share in the year-ago period. The counter closed at S$1.04 on Friday, up 4 per cent, before the business update.

Trading halts:

SPH and SPH Reit have both called for trading halts on Monday (Nov 15), shortly after Cuscaden submitted a revised offer which includes the option of an all-cash offer of S$2.36, or S$2.40 per share comprising S$1.602 cash and 0.782 of an SPH Reit unit through a distribution-in-specie by SPH. Both SPH and Cuscaden have also entered into an implementation agreement to privatise the former company via a scheme of arrangement. Shares of SPH T39 closed at S$2.33 on Friday (Nov 12)'s close, up S$0.02 or 0.9 per cent. Meanwhile, shares of SPH Reit SK6U  : SK6U 0%closed at S$1.02 on Friday (Nov 12)'s close, up S$0.01 or 1 per cent.

New Silkroutes also called for a trading halt on Monday (Nov 15), pending the release of an announcement. Shares of thinly-traded stock last closed unchanged on Nov 12 at S$0.075.