THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 10):
Singtel (Z74): Singapore Telecommunications (SingTel) on Thursday said the company may have to bare the brunt of further macro-economic challenges that are expected to persist into fiscal 2023 despite posting a 23% jump in its first-half net profit.
On the back of challenges around high inflation and rising interest rates, the company emphasized that it is "well-positioned" to weather headwinds due to a stable financial position and cash generation.
SingTel, which is going through a strategic reset, said net profit for the half year ended Sept. 30 came in at S$1.17 billion, compared with S$954 million a year earlier.
The company's performance was boosted by a strong turnaround in partly owned Bharti Airtel and an exceptional gain of S$1.01 billion ($720.25 million) from the partial divestment of its stake in Airtel.
FLCT (BUOU): Frasers Logistics and Commercial Trust (FLCT) plans a DPU of 3.77 cents for its 2HFY2022 ended Sept, down 2.8% y-o-y. This brings its full year distribution to 7.62 cents from 7.68 cents.
Adjusted net property income for 2HFY2022 was down 10.6% y-o-y to $162.1 million, while revenue was down 9.7% y-o-y to $214.5 million, mainly because FLCT had sold off one of its properties Cross Street Exchange on March 31.
FLCT says it enjoys healthy leasing momentum and that it has a strong occupancy rate of 96.4% and a weighted average lease expiry of 4.5 years.
FLCT owns 105 properties across five countries valued at $6.7 billion as at Sept 30 2022, giving it a NAV per unit of $1.30, up rose 4.8% from a year ago.
Starhub (CC3): StarHub has reported revenue of $590.8 million for 3QFY2022 ended Sept 30, up 14.2% y-o-y, as the telco booked higher sales across its major business segments, including sales of equipment.
However, earnings in the same period was down 32% y-o-y to $27.4 million.
The telco attributes the earnings drop to heftier operating costs including wages, repairs and maintenance, as well as capex on its networks. On the other hand, it incurred lower financing costs and tax.
For the 9MFY2022, earnings was down 18.4% y-o-y to $88.3 million, while revenue was up 10.6% y-o-y to $1.65 billion.
For the whole of FY2022, StarHub is guiding for higher revenue growth of 15%, revised from 12%.
On the other hand, because of delays, it expects capex commitment guidance to be at 9% of total revenue, instead of 12% indicated earlier.
CLI (9CI): CAPITALAND Investment (CLI) is selling its 91.8 per cent stake by total strata floor area of retail space in Penang’s Queensbay Mall for RM990.5 million (S$295.5 million) to CapitaLand Malaysia Trust (CLMT), CLI announced in a bourse filing on Wednesday (Nov 9) night.
The price represents a premium of 3.8 per cent to CLI’s valuation of the mall in December 2021.
Upon completion, CLI is expected to receive proceeds of about RM987 million and realise an estimated gain of RM59.3 million.
Sats (S58): INFLIGHT caterer and ground handler Sats on Wednesday (Nov 9) reported a net loss of S$9.9 million for its second quarter, reversing a year-ago profit of S$6.8 million, as operating expenses rose and lower government grants were received.
Riverstone (AP4): MAINBOARD-LISTED specialised cleanroom and healthcare glove manufacturer Riverstone Holdings on Wednesday (Nov 9) reported third-quarter earnings of RM63.5 million (S$19 million), a 76.2 per cent fall from RM266.4 million in the year-ago period.
Earnings per share fell to 4.28 sen, from 17.97 sen in the previous year.
Q3 revenue dropped 58.6 per cent to RM270 million, compared to RM652.8 million in the corresponding quarter last year.