THE following companies saw new developments that may affect trading of their securities on Thursday (Jul 28):
CICT (CICT): The manager of CapitaLand Integrated Commercial Trust (CICT) has reported a distribution per unit (DPU) of 5.22 cents for the 1HFY2022 ended June, 0.77% higher than the DPU of 5.18 cents in the same period the year before.
For the six-month period, distributable income increased by 3.4% y-o-y to $347.3 million.
CICT’s gross revenue for the 1HFY2022 rose 6.5% y-o-y to $687.6 million, while net property income (NPI) increased by 6.2% y-o-y to $501.6 million.
The better performance was mainly due to contributions from the completion of the acquisition of the 70.0% interest in CapitaSky, as well as the acquisition of three Australian assets, 66 Goulburn Street, 100 Arthur Street and 101-103 Miller Street and Greenwood Plaza. Higher rental income also contributed to the higher y-o-y figures.
The higher gross revenue and NPI for the period was, however, partly offset by the divestment of JCube and higher operating expenses.
KIT (A7RU): The trustee-manager of Keppel Infrastructure Trust (KIT) on Wednesday (Jul 27) reported a 2.7 per cent year-on-year increase in its distribution per unit (DPU) for the half year ended June 30, despite a lower distributable income for the same period.
DPU in H1 was 1.91 cents, up from 1.86 cents in the year-ago period, KIT’s unaudited results indicated.
However, H1 distributable income was 13 per cent lower at S$87.6 million, compared with that in the first six months of 2021.
KORE (CMOU): The manager of Keppel Pacific Oak US REIT (KORE) has reported a distribution per unit (DPU) of 1.43 US cents (1.98 cents) for the 2QFY2022 ended June, 9.5% y-o-y lower than the DPU of 1.58 US cents in the same period the year before.
The quarter’s DPU brings KORE’s 1HFY2022 DPU to 3.02 US cents, which also fell by 4.4% y-o-y from the DPU of 3.16 US cents in the 1HFY2021.
On a like-for-like basis, KORE’s adjusted DPU increased by 0.7% y-o-y each for both the 2QFY2022 and 1HFY2022. The adjusted DPU accounted for the REIT manager’s decision to receive 100% of its base fee for the 2QFY2022 in cash as opposed to units like the year before.
For the 1HFY2022, gross revenue increased by 8.4% y-o-y to US$74.1 million largely due to the contributions from 105 Edgeview in Denver, Colorado, and Bridge Crossing in Nashville, Tennessee, which were acquired in August 2021.
The higher gross revenue was also attributable to the higher recoverable property expenses as well as higher car park income as more employees return to the office in the US.
Hwa Hong (H19): The consortium behindHwa Hong Corporation : H19 +1.28%’s privatisation offer, Sanjuro United, has obtained valid acceptances from shareholders holding about 44.88 per cent of the shares, inclusive of the acceptances received from parties acting in concert with Sanjuro itself.
This brings the total number of shares owned, controlled or agreed to be acquired by Sanjuro and its concert parties, including valid acceptances, to approximately 51.29 per cent of the total number of shares — which means the offer has turned unconditional in all respects.
Hwa Hong further advised shareholders in a bourse filing on Wednesday (Jul 28) to submit the relevant acceptance forms by 5.30 pm on Aug 1, if they wish to take up the offer.
Samudera Shipping (S56): SAMUDERA Shipping Line reported a 367.6 per cent surge in 1H 2022 earnings to US$171.7 million from US$36.7 million a year prior.
The directors also declared an interim dividend of S$0.07 in a regulatory filing after market close on Jul 27.
Revenue for the period jumped 127.8 per cent to US$476.2 million from US$209.1 million, which was driven by increases across all business segments. The container shipping segment drove the bulk of the increases, surging 131.4 per cent to US$464.9 million in 1H 2022 from US$200.9 million a year earlier.
UOI (U13): UNITED Overseas Insurance (UOI), the general insurance arm of UOB, reported a loss of S$18.7 million for H1 2022 from its profit of S$27.2 million in H1 2021.
An interim dividend of S$0.085 per share has been declared.
Underwriting profit for the period rose 8.5 per cent to S$8.8 million from S$8.1 million a year prior. This was driven by an increase in premiums for the property and reinsurance classes of insurance.
Lian Beng (L03): CONSTRUCTION firmLian Beng Group on Wednesday (Jul 27) reported a 66.7 per cent year-on-year surge in net profit for the financial year ended May 31, with activity across all business segments recording an improvement following the easing of Covid-19 restrictions.
Net profit for FY2022 came in at S$43.5 million, compared with S$26.1 million in the previous financial year, according to the mainboard-listed company’s condensed interim consolidated financial statements.
Earnings per share rose to 8.70 Singapore cents, from 5.22 cents in the previous year.