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Stocks to watch: Singtel, Sembmarine, SGX, SIA, Frasers Hospitality Trust


THE following stocks have made announcements that might affect trading when the market opens on Thursday:

Singtel said on Thursday morning that it has sold its 30 per cent stake in travel service marketing and distribution firm, Abacus Travel Systems (ATS), for US$3 million.

The consideration was paid in cash by the buyer Abacus International upon completion of the transaction, Singtel said. With this divestment, ATS will no longer be a joint venture of the group.

Rigbuilder Sembcorp Marine (Sembmarine) said on Wednesday evening that its second quarter earnings tumbled 17 per cent from a year ago to S$109.23 million. Revenue for the three months ended June 30, also slid 9.9 per cent to S$1.21 billion, due to lower revenue recognition from rig projects. The group declared an interim dividend of four Singapore cents per share, down one cent from the previous year.

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Singapore Exchange (SGX) posted a 24.5 per cent year-on-year rise in fourth-quarter net profit to S$96.22 million. Revenue for the three months ended June 30 was up nearly 25 per cent at S$215.61 million, while earnings per share came to nine cents, up from 7.2 cents in the year-ago period. Its board has proposed a final dividend of 16 cents per share, payable on Oct 9.

Singapore Airlines' (SIA) net profit for the first quarter jumped to S$91.2 million, from S$34.8 million in the corresponding quarter last year, due to a lower share of losses from associated companies. Revenue, which included contributions from now-subsidiary Tiger Airways, inched up 1.4 per cent to S$3.73 billion, from S$3.68 billion in Q1 2014.

Frasers Hospitality Trust announced a distribution per unit (DPU) of 1.56 Singapore cents for its third quarter, which was 0.65 per cent higher than its forecast. Compared to its earlier expectations, gross revenue was 3 per cent lower at S$23.72 million, while net property income was 1.2 per cent lower at S$19.23 million.