You are here
Stocks to watch: OCBC, Addvalue Tech, Roxy-Pacific, Ascendas Hospitality Trust, Vibrant, Ascott Reit, SPH
THE following companies saw new developments which may affect trading of their shares on Thursday:
OCBC Bank: OCBC Bank turned a record net profit of S$1.25 billion for its third fiscal quarter in 2018, rising 12 per cent from the S$1.11 billion last year for the same period. The earnings beat the S$1.13 billion consensus forecast in a Bloomberg survey of seven analysts.
Addvalue Technologies: Communications technology company Addvalue Technologies has entered into several subscription agreements for the issuance of 100 million new shares at 2.5 Singapore cents apiece, all of which has been placed out to investors.
Roxy-Pacific Holdings: Roxy-Pacific Holdings saw its net profit soar to S$4.4 million for the third quarter ended Sept 30, up from S$1.6 million a year ago, due to much lower cost of sales and expenses. However, revenue fell 69 per cent to S$18.8 million, mainly due to lower contributions from the property development and property investment segments.
Ascendas Hospitality Trust: Ascendas Hospitality Trust on Wednesday posted a 2.8 per cent rise in distribution per stapled security (DPS) for the second quarter ended Sept 30. DPS expanded to 1.46 Singapore cents from 1.42 cents.
Vibrant Group: The full impairment on its Blackgold Group acquisition following several accounting irregularities and a fire that destroyed Blackgold's accounts sunk Vibrant Group's results into the red for the full financial year ended April 30. The freights and logistics, real estate and financial services group posted a net loss of S$88.7 million, from a net profit of S$3.4 million for the previous year, the group said in a Singapore Exchange filing on Thursday morning.
Ascott Residence Trust (Ascott Reit): The Reit (real estate investment trust) posted a strong quarter with Q3 2018 unitholders' distribution and distribution per unit (DPU) increasing by 8 per cent to S$39.4 million and 1.82 Singapore cents respectively over Q3 2017. Revenue grew 6 per cent year on year to S$134.5 million, and gross profit increased 9 per cent to S$64.2 million.
Singapore Press Holdings (SPH): SPH is divesting its entire stake in wholly-owned subsidiary ShareInvestor.com Holdings for S$17 million, in a management buyout by ShareInvestor's CEO Christopher Lee and chief operating officer Lim Dau Hee, together with several key managers and private investors. The process is expected to be completed in mid-November.