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Stocks to watch: ThaiBev, New Silkroutes, Wilmar, SIA, Keppel DC Reit, Straits Trading
THE following companies saw new developments that may affect trading of their securities on Friday:
Thai Beverage Public Co (ThaiBev), Fraser and Neave (F&N), UOB Kay Hian (UOBKH): The three are among Singapore-listed companies that have revenue contributions from Thailand. It's still mostly business as usual for such firms despite the tightening of emergency regulations amid mass demonstrations. But companies are keeping a close eye on a situation that analysts warn poses downside risks to the economy and stocks. At Thursday's close, ThaiBev lost S$0.01 or 1.7 per cent to S$0.57, F&N dropped S$0.01 or 0.8 per cent to S$1.20, while UOBKH was flat at S$1.30.
New Silkroutes Group, Cordlife Group: New Silkroutes said late Thursday night that its non-independent, non-executive chairman Goh Jin Hian and finance director William Teo Thiam Chuan have resigned. On Thursday morning, New Silkroutes also announced that its auditor had given a disclaimer of opinion on its financial statements for the fiscal year ended June 30. Meanwhile, Dr Goh has also quit as an independent director of Cordlife. New Silkroutes shares last traded at 11.4 Singapore cents on Tuesday.
Wilmar International: The agri-food group's stock price lost ground as high volumes changed hands on Thursday, even as its Chinese subsidiary shone on its first day of trading in Shenzhen. Wilmar shares closed at S$4.36, down S$0.30 or 6.4 per cent. The stock was the most actively traded by value on the Singapore Exchange.
Singapore Airlines (SIA): The flag carrier again reported strong cargo load factor as capacity contraction outpaced decline in cargo traffic. In its monthly operating results, SIA said September's cargo load factor improved 29.5 percentage points year on year to 89 per cent. Group passenger capacity, by contrast, remained weak. SIA shares closed flat at S$3.49, before the announcement.
Keppel DC Reit: The real estate investment trust (Reit) will join the benchmark Straits Times Index (STI) on Oct 19, as another Reit - CapitaLand Commercial Trust - leaves the index in preparation for its merger with CapitaLand Mall Trust. The Singapore bourse operator said on Thursday that Keppel DC Reit was the largest stock on the STI reserve list as at Oct 14. Keppel DC Reit units rose S$0.04 or 1.4 per cent to end at S$2.99.
The Straits Trading Company: The mainboard-listed property firm's unit has inked a binding commitment letter to sell the trust beneficiary interests in certain residential properties in Tokyo for about 18.95 billion yen (S$244.2 million). The proposed disposal is in line with Straits Trading's strategy of redeploying capital from its existing property portfolio of high-quality but low-yielding investment properties into potentially higher-return real estate opportunities. The stock gained S$0.01 or 0.7 per cent to close at S$1.53, before the announcement.
Soilbuild Business Space Reit (Soilbuild Reit): Its manager on Thursday evening reported a 16.5 per cent increase in net property income to S$19.7 million for the third quarter this year. This came as the allowance for doubtful receivables balance was reduced from S$2.1 million in Q2 to S$0.6 million in Q3. Soilbuild Reit units fell one Singapore cent or 2 per cent to close at 48.5 cents.
Trading halt: Jiutian Chemical Group called for a trading halt on Friday morning. Its shares gained 0.1 Singapore cent or 1.6 per cent to finish Thursday at 6.4 cents on heavy volume of 75.3 million shares.