THE following companies saw new developments that may affect trading of their securities on Thursday (May 12):
CapitaLand Investment (9CI): CAPITALAND Investment posted a 16 per cent growth on year in revenue to S$598 million for its first quarter ended Mar 31, 2022, amid a healthy growth in fee-related earnings (FRE) from its fund and lodging management businesses.
In its business update for the quarter on Thursday (May 12), CLI noted FRE for its fund management business rose 28 per cent on year to S$132 million.
The ratio of its fund management FRE to funds under management in the quarter was 51 basis points, compared with 50 basis points for FY2021.
Frasers Property (TQ5): FRASERS Property posted a 42.6 per cent decline in profit to S$158.2 million for its second half ended Mar 31, 2021, from S$275.8 million a year ago.
In the previous corresponding period, the property company recorded a gain on the change in use of a portfolio of industrial properties, which have been transferred from properties held for sale to investment properties.
If the group excludes the impact of the gain in H1 2021, its net profit for H1 2021 would have been S$22.5 million, resulting in a net profit gain of 603.1 per cent for H1 2022 instead, Frasers Property said on Thursday (May 12).
Golden Agri-Resources (E5H): GOLDEN Agri-Resources on Thursday (May 12) reported net profit of US$188 million for the first quarter ended Mar 31, 2022, rising nearly fivefold from the previous year’s Q1 net profit of US$41 million.
The mainboard-listed palm oil company said it achieved record Q1 performance on the back of a 32 per cent year-on-year increase in revenue to US$2.7 billion, from US$2.05 billion the year before as crude palm oil (CPO) market prices continued to appreciate.
CPO market prices (FOB Belawan) notably increased by 49 per cent compared to the same quarter last year, averaging US$1,579 per tonne.
Cromwell E-Reit (CWBU): CROMWELL European Real Estate Investment Trust (Cromwell E-Reit) on Thursday (May 12) posted a 7.1 per cent rise in distributable income to 23.3 million euros (S$34.1 million) for the first quarter ended Mar 31, 2022, from 21.7 million euros in the year-ago period.
This comes as the Europe-focused Reit reports gains in gross revenue and net property income due to new acquisitions and higher rental income from CPI lease indexation and positive rent reversions, its manager said in a press statement.
Net property income (NPI) had risen 5.4 per cent to 32.5 million euros year on year from 30.8 million euros. Excluding new acquisitions, disposals and property under development, NPI was down 4.4 per cent.