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Stocks to watch: Sembcorp, SIAEC, Yangzijiang, Thomson Medical, CDLHT, EC World Reit
THE following companies saw new developments that may affect trading of their securities on Monday:
Sembcorp Industries: A bleeding marine segment following an oil slump and substantial impairments of energy assets dragged the conglomerate's first-half showing into the red, with a net loss of S$131 million against a profit of S$191 million a year earlier. Sembcorp's shares ended flat at S$1.78 on Friday.
SIA Engineering Company (SIAEC): The maintenance arm of Singapore Airlines recorded a net profit slide of 74.3 per cent to S$10.7 million between April and June 2020, compared with the same quarter a year ago. SIAEC's shares inched up S$0.02 or 1 per cent to close at S$1.96 on Friday.
Yangzijiang Shipbuilding: In an interview with The Business Times, the group's executive chairman and chief executive Ren Letian said he is "not too worried" amid unprecedented times as Yangzijiang Shipbuilding had gone through many market cycles and emerged stronger each time. He also said production progress for the first half of 2020 is about 15 days ahead of schedule. The counter closed at 94 Singapore cents on Friday, up 0.5 cent or 0.5 per cent.
Thomson Medical Group: The mainboard-listed firm expects to post a net loss for the six months, as well as for the 18 months ended June 2020, due to a non-cash impairment loss in Malaysia and weaker contributions from certain segments, according to a profit guidance on Friday. Shares of Thomson Medical closed at 5.6 Singapore cents on Friday, down 0.1 cent or 1.8 per cent.
CDL Hospitality Trusts (CDLHT): Its managers on Friday night guided that the distribution per stapled security will decline by 60 to 70 per cent, from 4.16 Singapore cents a year earlier, as CDLHT's financial performance will be "severely affected" by the unprecedented downturn in global tourism and travel amid the Covid-19 pandemic. CDLHT stapled securities closed at S$1.02 on Friday, down S$0.01 or 1 per cent, before the profit guidance.
EC World Real Estate Investment Trust (EC World Reit): The chief investment officer of the Reit's manager, Li Jinbo, left his position on Friday to take up a new job, the manager said in a bourse filing. The counter ended Friday at 64.5 Singapore cents, up one cent or 1.6 per cent, before the announcement.
Lippo Malls Indonesia Retail Trust (LMIRT): The long-stop date for LMIRT's planned divestment of Pejaten Village and Binjai Supermall has been extended to July 23 after discussions with the parties involved, LMIRT's manager announced in a Saturday bourse filing. Units of LMIRT closed flat at 13.1 Singapore cents on Friday.
ARA US Hospitality Trust (ARA H-Trust): The stapled group is expected to report a net property loss and no distributable income for the first six months of 2020, it said on Friday. ARA H-Trust stapled securities fell 0.5 US cent or 1.3 per cent to 39.5 cents on Friday before the profit guidance was announced.
Yongnam Holdings, Singapore Technologies (ST) Engineering: The Land Transport Authority (LTA) on Thursday awarded a design and construction contract worth S$320.4 million to a joint venture involving a Yongnam subsidiary. LTA also awarded two contracts to ST Engineering Electronics at a combined value of around S$146.6 million. As at 9.53am on Monday, shares of mainboard-listed Yongnam were trading up 0.3 Singapore cent or 3.4 per cent at 9.2 cents, while ST Engineering shares were trading down S$0.04 or 1.2 per cent at S$3.24.
Qian Hu Corporation: The mainboard-listed integrated fish service provider has swung into the red for the first half, with the "drastic" reduction of cargo flights as a result of the coronavirus outbreak hurting its sales. Shares of Qian Hu last traded at 13 Singapore cents on July 13.