Stocks to watch: SPH, Keppel, Frasers Hospitality Trust, Starhill Global Reit

THE following companies saw developments that may affect trading of their securities on Friday (Oct 29):

Singapore Press Holdings (SPH): T39 A consortium involving Hotel Properties (HPL), businessman Ong Beng Seng, Mapletree and CLA Real Estate Holdings have made an offer to acquire SPH for S$2.10 per share. The consortium on Friday morning said it had submitted an offer for all shares of SPH via a scheme of arrangement to the SPH board. The consortium vehicle, Cuscaden Peak, is 40 per cent held by HPL, 30 per cent held by CLA Real Estate and 30 per cent held by Mapletree. Mapletree and CLA Real Estate are Temasek-linked entities. Shares of SPH closed Thursday (Oct 28) unchanged at S$1.99 each. Trading in SPH shares were halted on Friday Morning.

Keppel Corporation: BN4 The conglomerate reported a net profit for the 9 months ended September in a voluntary business update on Thursday (Oct 28) after the market closed. Revenue for the period rose 14 per cent to S$5.5 billion from a year ago driven by better performances from all business segments. Shares of Keppel closed down 0.6 per cent or S$0.03 to S$5.37 on Thursday.

Frasers Hospitality Trust (FHT): ACV : ACV 0% Managers of the stapled group on Friday (Oct 29) announced a distribution per stapled security (DPS) of S$0.008041 for the half year ended Sep 30, 2021, down 24.8 per cent on-year from its H2 FY2020 DPS of S$0.010695. The decline was due to lower retained distributable income of S$4.3 million in H1 FY2021, compared to S$22.3 million of distributable income retained in H1 FY2020. Stapled securities of FHT closed Oct 28 down S$0.015 or 3 per cent at S$0.49.

Starhill Global Reit: P40U The real estate investment trust (Reit) reported a 15.1 per cent jump in net property income to S$34.3 million for Q1 FY22 in a regulatory filing after the market closed on Thursday. Retail assets have mostly contributed to the gross revenue, making up 85.6 per cent, with the remaining from office properties. Units of the Reit closed up 0.8 per cent or S$0.005 to S$0.64 on Thursday.

Far East Hospitality Trust (FEHT): Q5T  In a business update on Friday (Oct 29) morning, the group announced that its income available for distribution rose 12.5 per cent year-on-year to S$13.5 million for Q3 2021. Net property income for the quarter was also up by 2.6 per cent to S$18.3 million. Shares of FEHT closed flat at S$0.635 on Oct 28.

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CDL Hospitality Trusts: J85 : J85 0%The stapled hospitality group on Friday (Oct 29) posted a 34.8 per cent rise in net property income of S$20.5 million for the third quarter ended Sep 30, reflecting ongoing recovery from the Covid-19 pandemic. Its stapled securities closed 0.8 per cent or S$0.01 higher at S$1.20 on Thursday.

Mapletree North Asia Commercial Trust (MNACT): RW0U The Reit reported a growth in H1 FY 21/22 distribution per unit to S$0.03246 from S$0.02876 a year ago in a bourse filing after trading ended on Thursday (Oct 28). The results were lifted by lower rental reliefs given out amid higher footfall and retail sales at Hong Kong's Festival Walk mall, as well as by contributions from the acquisition of the Hewlett-Packard Japan Headquarters Building in Japan and The Pinnacle Gangnam in Korea. Units in the counter closed flat at S$1 on Thursday.

Japfa: UD2 The Industrial agrifood company posted a fall in 9M FY21 net profit of 12 per cent to US$113.9 million in a regulatory filing after the market closed on Thursday (Oct 28). Despite revenue growing 22 per cent to US$3.4 billion, net profit fell due to greater portion of profits being attributed to minority interests. Shares of Japfa ended trading down 2.1 per cent or S$0.015 at S$0.0695 on Thursday.

Sheng Siong: OV8 The supermarket operator reported a 8.3 per cent rise in Q3 FY21 net profit to S$34.4 million from a year ago in a bourse filling after end of trading on Thursday (Oct 28). This was driven by higher revenue and improved sales mix that included products with higher margins. The counter closed down 0.7 per cent or S$0.01 to S$1.42 on Thursday.