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Stocks to watch: Swiber, Rowsley, Singtel, LMIR Trust
CORPORATE action and quarterly earnings releases continue to dominate the headlines, providing ideas for investors to trade on.
Stocks that could see potential upside on Thursday include Rowsley and Swiber, both of which announced new corporate deals.
Rowsley Ltd, a real estate and investment firm part-owned by billionaire Peter Lim, has entered into an agreement with Vietnam's Hoang Anh Gia Lai Joint Stock Company (HAGL) to jointly develop a mixed-use development in Yangon, Myanmar.
Under a heads of terms agreement signed on Thursday, Rowsley will invest US$275 million for a 50 per cent stake in a company that wholly owns HAGL Myanmar Centre.
Swiber Holdings Ltd said that it has secured an engineering, procurement, construction, installation and commissioning (EPCIC) contract worth about US$310 million from a national oil company in South Asia - the second-largest contract in its corporate history.
With this new contract, Swiber's order book will rise to about US$1.6 billion, a new record high for the group.
Stocks that could benefit from stronger-than-expected results include Singapore Telecommunications (Singtel) and Lippo Malls Indonesia Retail Trust (LMIR Trust)
Singtel reported an 11 per cent rise in third-quarter net profit on strong performance at home and higher contributions from its regional associates. It posted a net profit of S$970 million for the three months ended December, compared with S$872 million a year ago. The average forecast for net profit was S$917 million by three analysts polled by Reuters.
LMIR Trust said on Thursday morning that its distribution per unit (DPU) for the fourth quarter ended Dec 31, 2014 rose 26.8 per cent from a year ago to 0.71 Singapore cent on the back of higher rental income from its malls in Indonesia. This represents an annualised yield of 8.1 per cent, based on the closing price of 34 cents per unit on Dec 31, 2014.