THE following companies saw new developments that may affect trading of their securities on Thursday (Aug 4):
SINGAPORE’S largest bank DBS on Thursday (Aug 4) reported a 7 per cent rise in net profit to S$1.82 billion for Q2 ended June, marking the second-highest level in its history.
This comes as DBS’ net interest margin (NIM), which had been declining since 2019, rose 3 basis points (bps) in Q1 amid interest rate hikes, the bank noted in its earnings release before the market open. In Q2, NIM gained 12 bps to 1.58 per cent, as the impact of rate hikes was more fully felt.
Manulife US Real Estate Investment Trust reported a 3.3 per cent drop in its distribution per unit (DPU) for the half year ended Jun 30 due to lower income from existing properties, it said in a bourse filing on Thursday (Aug 4).
The Reit posted a DPU of US$0.0261, down from US$0.027 last year, while gross revenue grew 10.6 per cent to US$100.4 million in H1, from US$90.8 million in 2021.
PRIME US Reit reported on Wednesday (Aug 3) a 5.7 per cent year-on-year increase in distribution per unit (DPU) for the first half ended Jun 2022, on the back of higher gross revenue and net property income.
DPU for the first half rose to US$0.0352 from US$0.0333 in the corresponding year-ago period. The higher DPU translates to an annualised distribution yield of 10.5 per cent per annum, based on the closing price of US$0.675 as at Jun 30 this year, Prime US Reit’s manager noted.
The managers of ARA US Hospitality Trust have reported a distribution per stapled security (DPS) of 1.427 US cents (1.971 cents) for the 1HFY2022 ended June.
The half-year period’s DPS is a 302% growth from the trust’s DPS of 0.355 US cents in the 2HFY2021. There was no DPS distributed in the 1HFY2021.
DUAL-LISTED Del Monte Pacific on Thursday (Aug 4) announced that its US subsidiary has acquired for US$99 million the intellectual property and inventory associated with the Kitchen Basics brand of ready-to-use stock and broth from McCormick & Company.
The purchase was financed through credit facilities and did not involve the acquisition of any property, plant or equipment, Del Monte said. Founded in 1996, the Kitchen Basics brand calls itself a pioneer in liquid stock, with net sales of about US$45 million. It will join Del Monte’s brand portfolio.