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Stocks to watch: SIA, Keppel, Ascendas Reit, MCT, UOL, FCT, OUE-C-Reit
THE following companies saw new developments that may affect trading of their securities on Friday:
Singapore Airlines (SIA): The national carrier has obtained S$750 million of funding against some of its Airbus and Boeing aircraft to shore up liquidity amid plummeting demand due to the novel coronavirus. Shares of SIA closed at S$3.69 on Thursday, up S$0.04 or 1.1 per cent, before the announcement.
Keppel Corporation: The conglomerate warned on Friday that it will recognise material impairments in its financial results for the second quarter ended June 30, 2020, pertaining mainly to its offshore and marine business. Separately on Thursday, it said its unit is set to invest 1.5 billion yuan (S$300 million) to acquire and develop a data centre in China's Tonghu Smart City. Keppel Corp shares closed at S$5.95 on Thursday, up S$0.02 or 0.3 per cent.
Ascendas Real Estate Investment Trust (Ascendas Reit): The Reit's manager on Thursday posted a resilient set of financial results for the first half of the year even after including rental assistance to tenants, and it remains optimistic on its rental outlook. Units of Ascendas Reit ended S$0.09 or 2.7 per cent higher at S$3.43 before the announcement.
Mapletree Commercial Trust (MCT): The manager on Thursday reported a 10.7 per cent year-on-year decline in net property income to S$78.9 million for the first quarter, attributing it largely to rental rebates given to retail tenants at its core VivoCity property during the Covid-19 pandemic. Units of MCT closed unchanged at S$1.92 on Thursday before the announcement.
UOL Group: The mainboard-listed property company has guided for an accounting loss for H1 2020, due to fair-value losses from investment properties. Without these losses, it expects an attributable profit from operations. Shares of UOL closed at S$6.81 on Thursday, down S$0.01 or 0.2 per cent.
Frasers Centrepoint Trust (FCT): Portfolio occupancy fell 2.2 percentage points year on year to 94.6 per cent for the third quarter ended June 30, the manager said, attributing the drop to "weakened leasing market conditions". FCT's units closed up S$0.05 or 2.1 per cent at S$2.42 on Thursday.
OUE Commercial Real Estate Investment Trust (OUE C-Reit): The Reit on Thursday posted a distribution per unit (DPU) of one Singapore cent for the half year ended June 30, 40.5 per cent lower than a year ago, according to its manager. Units of OUE C-Reit closed up 2.6 per cent or S$0.01 at S$0.40 on Thursday, before the announcement.
Del Monte Pacific: The mainboard-listed food and beverage company has sunk into the red with a net loss of US$12.4 million for its fourth quarter ended April 30, compared with a net profit of US$6.3 million a year ago. Del Monte shares were trading up 35.5 per cent or 3.8 Singapore cents to 14.5 cents as at 10.02am on Friday, after the announcement.
Elec & Eltek International Holdings: The printed circuit board manufacturer is on its way to being delisted from the Singapore Exchange and the Hong Kong Stock Exchange, as the privatisation bid for it has turned unconditional. As at 9.49am on Friday, Elec & Eltek shares were trading down US$0.01 or 0.4 per cent at US$2.30, after the company lifted its trading halt on Thursday.
United Overseas Insurance (UOI): The mainboard-listed general insurance arm of United Overseas Bank saw its net profit shrink by 42 per cent to S$4.9 million for the second quarter ended June 30, 2020, from S$8.4 million for the corresponding period last year. UOI shares closed at S$6.77 on Thursday, up S$0.05 or 0.7 per cent.