Singapore Stocks to Watch: iFast Corp, Parkway Life Reit, Centurion, and Ascent Bridge

Tiger Newspress2022-04-25

THE following companies saw new developments that may affect the trading of their securities on Monday (Apr 25):

iFast Corporation: Fintech platform iFAST Corp posted a near 35 percent year-on-year drop in net profit to S$5.74 million for the first 3 months ended Mar 31, 2022, as global stock market conditions turned sour.

The bottom line was lower in line with decreased revenue and higher operating expenses.

Net revenue for the quarter was 1.2 percent lower at S$28.15 million as an 18.7 percent decline in non-recurring net revenue offset an 8.8 percent increase in recurring net revenue. Earnings per share for the quarter fell to 1.97 Singapore cents, down from 3.22 cents a year ago.

Parkway Life Reit: The potential acquisition of Mount Elizabeth Novena Hospital by the REIT would raise UOBKH's target price to $5.42.

UOB Kay Hian analyst Jonathan Koh has upped his target price on Parkway Life REIT (PLife REIT) to $4.82 from $4.72 previously after he sees a “potential catalyst in the making”.

Koh has, however, kept his “hold” recommendation for the time being.

Centurion: Centurion Corporation, on April 22, announced the commencement of the sale process of its portfolio of assets in the US under its US student housing fund.

Centurion holds a 28.7% stake of the total number of units in issue in the US fund. The fund is managed by the company’s wholly-owned subsidiary, Centurion Student Investment Management Pte. Ltd. Another wholly-owned subsidiary, Centurion Student Accommodation Trustee Pte. Ltd., is the trustee of the fund.

Ascent Bridge is investing S$77 million to acquire stakes in a group of companies that distribute beverages and liquor in Singapore and Malaysia.

In a filing to the Singapore Exchange on Sunday (Apr 24) night, Ascent said that it was acquiring 80 per cent of the issued share capital in Singapore-incorporated Octopus Distribution Networks (ODN) and Singapore-incorporated Cape Exim from Octopus Global Hldgs for S$57.75 million. Meanwhile, it is acquiring 39.2 per cent of the issued share capital of Malaysia-incorporated Luen Heng F&B from Octopus Investment for S$19.25 million.

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Comments

  • Success88
    2022-04-26
    Success88
    Parkwaylife 😍😍😍
  • Mtan23
    2022-04-25
    Mtan23
    Good read 
  • OO_898
    2022-04-25
    OO_898
    Great 
  • Iv50829922
    2022-04-25
    Iv50829922
  • IAS
    2022-04-25
    IAS
    Parkway Life Reit, steady n strong 
  • YueShan
    2022-04-25
    YueShan
    Great day⭐⭐⭐
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