Stocks to watch: ST Engg, SPH, CapitaLand, Raffles Medical, Wing Tai, Hong Leong Asia

THE following companies saw new developments that may affect trading of their shares on Monday:

ST Engineering: ST Engineering on Monday posted a 36.2 per cent rise in its fourth quarter net profit to S$169.5 million. This came as revenue for the quarter climbed 29 per cent to S$2.29 billion, thanks to increased contributions from its marine sector and aerospace arm. ST Engineering shares closed at S$4.24 on Friday, down S$0.03 or 0.7 per cent.

Singapore Press Holdings (SPH): The media and property group, which publishes The Business Times, on Monday said it will acquire five aged care assets in Japan for a total of 5.26 billion yen (S$65.8 million). The deal is part of SPH's strategy of investing in aged care and healthcare assets, and expanding its business footprint in markets with fast-ageing populations. SPH shares closed flat at S$2.01 on Friday.

CapitaLand: To ease cash flows for all its mall tenants amid the virus outbreak, the real estate giant on Monday said it will release one month's worth of security deposits to offset their rental payments for the month of March 2020. This is on top of other potential rental relief measures it had announced last week. Shares of CapitaLand ended trading down S$0.03 or 0.8 per cent at S$3.70 on Friday. 

Raffles Medical Group: The mainboard-listed firm on Monday reported a 15.2 per cent drop in net profit to S$60.3 million for the full year ended Dec 31, 2019, down from S$71.1 million a year ago. Shares in Raffles Medical Group closed flat at S$1.01 on Friday. 

Wing Tai Asia: Wing Tai Asia sold 70 per cent or over 360 units of its latest condominium project The M over the weekend. Units were sold at an average price of S$2,450 per square foot. The counter closed at S$2.01 on Friday, down S$0.01 or 0.5 per cent. 

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Hong Leong Asia: Hong Leong Asia has been granted a time extension by the Singapore Exchange to release its FY2019 results by March 31, amid fallout from the Covid-19 outbreak. The group sought a waiver as it has major operations in China, with more than 80 per cent of its revenue contributions coming from its business units there. The counter closed at 59.5 Singapore cents on Friday, down 1.5 Singapore cents or 2.5 per cent.  

Broadway Industrial Group: Broadway Industrial announced on Sunday that it has been served two writs of summons and statements of claim in relation to the sale of its foam plastics solutions and flow control device businesses, with the aggregate minimum amount of claims amounting to about S$9.3 million. Broadway Industrial shares closed at 10 Singapore cents on Friday, down 0.5 cent or 4.8 per cent.

Singapore Medical Group: The Catalist-listed firm on Monday posted a 25.1 per cent rise in its fourth quarter net profit to S$3.7 million. In the near term, the group expects to be impacted by the Covid-19 outbreak, as consumer discretionary spending will be affected, which will in turn affect elective medical services within its diagnostics and aesthetics segment. Singapore Medical Group shares closed at S$0.34 on Friday, up S$0.02 or 6.3 per cent.