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Stocks to watch: KTL Global, Parkway Life Reit, Tuan Sing, Frasers Commercial Trust
THE following companies saw new developments which may affect trading of their shares on Thursday:
KTL Global: Offshore services firm KTL Global said on Wednesday night that it has received notice that the Commercial Affairs Department (CAD) is conducting an investigation into an offence under Chapter 224 of the Penal Code. In the notice, dated July 25, the CAD requested access to documents and information concerning KTL. It also interviewed the company's chief financial officer on Wednesday in relation to the investigation.
Parkway Life Real Estate Investment Trust: For its fiscal second quarter ended June 30, Parkway Life Real Estate Investment Trust saw distribution per unit (DPU) fall 3.7 per cent to 3.19 Singapore cents, due to the absence of a one-off distribution of a divestment gain in the year-ago period more than offsetting a 3.1 per cent rise in DPU from recurring operations. Net property income rose 1.2 per cent year-on-year to S$26.2 million, on the back of a 1.3 per cent rise in gross revenue to S$28.1 million.
Tuan Sing Holdings: Property developer Tuan Sing Holdings posted a 70 per cent rise year-on-year in net profit for the second quarter to S$2.99 million on the back of a S$3.9 million gain from the sale of a plot of land in Qingdao, China. Revenue dipped 3 per cent to S$81.66 million due to lower sales of residential development projects and a slight decrease in revenue from the hotels business.
Frasers Commercial Trust: For its fiscal third quarter ended June 30, Frasers Commercial Trust announced a DPU of 2.4 Singapore cents, flat from the year-ago period. Net property income fell 26.9 per cent to S$20.37 million on the back of a 15.2 per cent drop in revenue to S$32.49 million.
Ascendas India Trust: Ascendas India Trust's first quarter DPU was up 23 per cent at 1.6 Singapore cents, with net property income up 10 per cent at S$33.6 million despite revenue falling 3 per cent to S$44.9 million.
Citic Envirotech: Environmental engineering firm Citic Envirotech's Q2 net profit more than doubled to S$43.51 million from S$19.34 million a year ago. Revenue for the period rose over 150 per cent to S$279.92 million due to higher engineering revenue as well as membrane system sales. Earnings per share for the quarter spiked to 1.82 Singapore cents, up from 0.95 cent previously.
Sabana Shari'ah Compliant Industrial Real Estate Investment Trust: For its fiscal second quarter ended June 30, Sabana Reit is giving a DPU of 0.82 Singapore cent, up 1.2 per cent from the year-ago period. This is despite gross revenue falling 8.6 per cent to S$20.1 million and net property income decreasing 2.8 per cent to S$12.6 million.
ComfortDelGro: Through its subsidiary ComfortDelGro Bus, ComfortDelGro will acquire the private bus chartering assets of Ric-Tat Travel & Coach Services for S$6.45 million.