Singapore Stocks to Watch: ThaiBev, ST Engineering, First Reit, Vertex Technology

Tiger Newspress2022-11-28

THE following companies saw new developments that may affect trading of their securities on Monday (Nov 28):

THAI Beverage on Friday (Nov 25) posted earnings of 30.1 billion baht (S$1.2 billion) for the full FY2022, up 22.2 per cent from net profit of 24.6 billion baht in FY2021. On a per-share basis, earnings came in at 1.2 baht, up from 0.98 baht.

The group has proposed a final dividend of 0.45 baht per share, higher than the final dividend of 0.35 baht last year. The dividend will be paid out to shareholders on Feb 24, 2023, after the book closure date of Feb 7.

Singapore Technologies Engineering (ST Engineering) has reported revenue of $2.2 billion for the 3QFY2022 ended Sept 30, 22.2% higher than the revenue of $1.8 billion in the corresponding quarter before.

For the 9MFY2022, ST Engineering’s revenue increased by 19% y-o-y to $6.51 billion as all segments registered revenue growths.

FIRST Real Estate Investment Trust (Reit) trustee Perpetual (Asia) has entered into a facility agreement with OCBC and CIMB Singapore as original lenders in terms of a term loan facility of S$225 million and a revolving credit facility of S$75 million, the Reit manager announced in a press statement on Friday (Nov 25).

Proceeds from the facilities will go towards refinancing an existing S$260 million term and revolving credit facilities due in March 2023, with an outstanding debt of S$225.7 million. The existing loan represents 50.6 per cent of First Reit’s total debt as at Sep 30.

Morgan Stanley picked up an additional 603,363 shares of Vertex Technology Acquisition Corporation on Nov 23 and became the latest substantial shareholder of Singapore’s first special purpose acquisition company (SPAC) with a deemed interest of just over 6 per cent.

A filing on Friday (Nov 25) showed that Morgan Stanley now has a deemed interest of about 2.5 million VTAC shares, up from 1.9 million shares or a stake of about 4.6 per cent prior to the transaction.

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