Stocks to watch: SIA, Yanlord, GuocoLand, Keppel, Sunningdale, UG Healthcare

THE following companies saw new developments that may affect trading of their securities on Friday:

Singapore Airlines (SIA): Net loss for the flag carrier extended into the third quarter ending Dec 31 at S$142 million, a reversal of the net profit of S$315 million recorded in the prior-year period. In terms of outlook, SIA said the resurgence of Covid-19 infections as well as the spread of more transmissible strains of the virus continue to weigh on international air travel. Shares of SIA closed unchanged on Thursday at S$4.17, before the business update.

Yanlord Land Group (Yanlord): The property developer recorded 5.2 billion yuan (S$1.1 billion) in total contracted pre-sales from residential units, commercial units and car parks in January, more than twice the 2.1 billion yuan it recorded in the previous year. Yanlord shares closed flat at S$1.10 on Thursday, before the announcement.

GuocoLand: Net profit for H1 2021 more than halved year on year, falling 69 per cent to S$22.9 million due to higher tax expenses on its project in Shanghai. Earnings per share was at 1.20 Singapore cents, versus 5.86 cents a year ago. Shares of GuocoLand closed S$0.02 or 1.3 per cent lower at S$1.56 on Thursday.

Keppel: Its new desalination plant, Keppel Marina East Desalination Plant, officially opened on Thursday. Singapore's fourth desalination plant has been in commercial operations since June 2020 and is able to meet about 7 per cent of Singapore's daily water demand. A 25-year water purchase agreement between Keppel and PUB will see the supply of desalinated water to the national water agency from 2020 to 2045. Shares of Keppel closed S$0.07 or 1.4 per cent lower at S$5 on Thursday.

Fraser and Neave, Limited (F&N): The beverage maker posted a net profit increase of 13.7 per cent to S$45.1 million (before exceptional items) for the first quarter ended Dec 31, on the back of improved savings generated from cost-cutting measures. The group said it is building a new growth pillar through strengthening its halal position, which it hopes will complement F&N's current product offering to consumers. The counter closed flat at S$1.40 on Thursday.

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Sunningdale Tech: Its independent financial adviser Provenance Capital has deemed the financial terms of its takeover bid as "fair and reasonable". Chairman Koh Boon Hwee and Novo Tellus PE Fund raised their offer price last month to S$1.65 per share from S$1.55 previously after activist investor Quarz Capital Management said the initial takeover price was "too low" and "significantly undervalues" the company. Mr Koh said the privatisation would help Sunningdale adapt to changing requirements for the industry. Shares of Sunningdale closed S$0.01 or 0.6 per cent higher at S$1.64 on Thursday.

UG Healthcare Corporation: The glovemaker posted a more than 60-fold increase in net profit for its fiscal first half ended Dec 31, arising from the significant rise in demand for gloves amid the ongoing coronavirus pandemic. A special cash dividend of 0.105 Singapore cent per share was declared, compared to no dividend a year earlier. UG expects to increase its capacity for glove production to 4.6 billion pieces per annum. The counter closed one Singapore cent or 1.3 per cent lower at 76.5 cents on Thursday, after the announcement.

mm2 Asia: The mainboard-listed entertainment group has requested for an extension of its trading halt pending the release of a material announcement.