Stocks to watch: UOB, SGX, SPH Reit, Lendlease Reit, Hiap Hoe, Jiutian Chemical, Sinjia Land

THE following companies saw new developments that may affect trading of their securities on Monday (Feb 7):

UOB: U11 The bank's mobile app was disrupted from around 3 pm on Friday to the early hours of Saturday, with users unable to log in or make fund transfers. UOB is reviewing the issue but has ruled out cyberattacks or security breaches, it told The Business Times on Sunday. UOB shares grew 1 per cent or S$0.30 to end at S$31.30 on Friday.

Singapore Exchange (SGX): S68 The bourse operator on Friday posted a 8.8 per cent decline in net profit to S$218.7 million for the first half of its financial year 2022 ended Dec 31, 2021, from S$239.8 million a year ago. This was due to weaker treasury income and higher operating expenses, SGX added. The counter closed at S$9.40 on Friday, down 0.2 per cent or S$0.02, before the announcement.

SPH Reit: SK6U The real estate investment trust's (Reit) manager has appointed PrimePartners Corporate Finance as its independent financial adviser for a possible chain offer by consortium Cuscaden Peak, it said in an exchange filing on Friday. This comes after Cuscaden Peak made a bid to privatise SPH late-2021, following an offer from Keppel Corp, with a scheme that may result in a chain offer for all remaining SPH Reit units. Prior to the announcement, units of SPH Reit ended S$0.96 on Friday, down 0.5 per cent or S$0.005.

Lendlease Global Commercial Reit (LReit): JYEU The Reit's distribution per unit rose by 2.6 per cent to S$0.024 for its first half ended Dec 31, 2021, from S$0.0234 a year ago. Its distributable income also grew 3.8 per cent year on year to S$28.6 million from S$27.5 million. Units of LReit jumped 3.7 per cent or S$0.03 to finish Friday at S$0.85, before the results were released.

Hiap Hoe: 5JK The mainboard-listed property developer on Friday told shareholders there was no certainty that Orchard Towers' intended collective sale will proceed or be completed. Hiap Hoe owns 21 shops and 38 offices in the mixed-used development, which has a reserve price of S$1.6 billion set by its collective sale committee. Unit owners in the building will vote on the proposed price at the extraordinary general meeting on Feb 18. The stock finished unchanged at S$0.64 on Friday, before the news.

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Jiutian Chemical: C8R The Catalist-listed chemical group said on Monday that it expects to report a "significant increase" in consolidated net profit after tax for FY2021 due to the higher average selling price and sales volume of their main products. Previously, the group reported record-high earnings of 173.7 million yuan (S$36.9 million) for FY2020 but did not recommend a dividend as it said it was not profitable at the firm level. Shares of Jiutian Chemical closed flat at S$0.087 on Friday.

Sinjia Land: 5HH The Catalist-listed backpacker hostel operator responded on Saturday to SGX Regulation queries that it may revise the S$2 billion price tag for its reverse takeover by sorghum producer Binex Singapore. It has appointed EY Corporate Advisors as an independent qualified valuer, whose upcoming valuation report will take precedence over a preliminary report that calculated the valuation of Binex to be between US$2.5 billion and US$3.1 billion. Shares of Sinjia Land closed on Friday at S$0.102, up 1 per cent or S$0.001.