Stocks to watch: Singtel, CapitaLand, Sembcorp, Bukit Sembawang

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

Z74: After commencing a strategic review of its two key business units, the mainboard-listed telco revealed a strategic reset that includes unlocking the value of its infrastructure asset portfolio. This comes on the same day the group reported a 12 per cent drop in H2 FY2021 earnings before interest, tax, depreciation and amortisation to S$1.93 billion from S$2.20 billion the previous year. Singtel closed Tuesday up S$0.02 or 0.8 per cent at S$2.46, before both announcements.

C31: The property giant said on Thursday it acquired the remaining 50 per cent stake in DLSP-Ascendas Co, which owns Dalian Ascendas IT Park in China. CapitaLand acquired the stake from its joint venture partner for 501 million yuan (S$103.9 million). CapitaLand's shares closed at S$3.66, up S$0.05 or 1.4 per cent on Tuesday.

U96: The group on Thursday announced plans to grow profit contribution from its sustainable solutions portfolio from 40 per cent to 70 per cent by 2025. It also plans to halve its greenhouse gas emissions by 2030 and deliver net zero emissions by 2050. Sembcorp shares closed 4.9 per cent or S$0.10 higher at S$2.13 on Tuesday.

B61: The property developer saw its earnings more than double for the financial year 2021 to March, on higher profit booked from development projects, absence of impairment loss as well as lower borrowing costs. Shares of mainboard-listed Bukit Sembawang shares closed at S$4.61, up 0.9 per cent or S$0.04 on Tuesday, before the announcement.

8AZ : 8AZ 0%: The mainboard-listed technology company said on Thursday it estimates the impact of the latest movement control order to be manageable on its Malaysia operations. It expects production output in Malaysia to reduce by about 30 per cent during the period of tighter restrictions. Its Malaysia production accounts for only 20 per cent of total output, while its China plant handles the remaining 80 per cent. Shares of Aztech Global closed at S$1.32 on Tuesday, down S$0.01 or 0.8 per cent.

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TS0U: It has priced an offering of S$150 million of 3.95 per cent notes due 2026, to be guaranteed by Reit trustee DBS Trustee. Net proceeds from the issuance will be used to refinance existing borrowings and working capital requirements, the manager said on Tuesday. OUE C-Reit units closed flat S$0.39 on Tuesday, before the announcement.

AVM: The property firm on Tuesday said it generated S$133.9 million in net profit for the second half of the financial year ended March, more than 10 times the S$12.6 million it recorded for the corresponding period a year ago. This came after the divestment of its interests in 14 properties to an industrial fund. The counter ended 1.8 per cent or S$0.02 higher at S$1.11 on Tuesday, before the announcement.