The following companies saw new developments that may affect trading of their securities on Thursday (Feb 9):
Keppel Corp (BN4): Keppel Corporation said on Wednesday (Feb 8) that a unit of Keppel Land is selling its 100 per cent stake in Willowville for US$5.5 million.
Willowville has a 60 per cent stake in a project company that holds the rights to develop a site in District 1 in Ho Chi Minh City, Vietnam.
Oasis Asia Real Estate Investment, the purchaser, will make the payment to Keppel Land Vietnam Properties, a wholly-owned subsidiary, in two tranches, Keppel said in an exchange filing.
SGX (S68): Singapore Exchange (SGX) Group has posted an adjusted net profit of $236.8 million for 1HFY2023 ended December, up 7% y-o-y.
Total revenue for the period, meanwhile, increased 10% y-o-y to $571.4 million.
Adjusted EBITDA rose to $334.1 million from $309.6 million, while adjusted earnings per share climbed to 22.2 cents from 20.7 cents.
Adjusted figures exclude certain non-cash and non-recurring items that have less bearing on SGX’s operating performance, says SGX in a Feb 9 press release.
Frasers Property (TQ5): Frasers Property on Wednesday (Feb 8) said it achieved pre-sold revenue of S$2.7 billion across Singapore, Australia, China and Thailand in its first quarter ended Dec 31, 2022.
Sales of residential projects in Australia and Singapore remained healthy despite rate hikes and inflation, the company announced in a business update.
In Singapore, it sold 50 units in Q1, with unrecognised revenue amounting to S$1 billion, Frasers Property said, noting that sales of launched projects continued to strengthen despite property curbs introduced in December 2021 and September last year.
Prime US Reit (OXMU): Prime US Reit posted a 2 per cent year-on-year increase in distributable income to US$77.2 million for the financial year ended Dec 31, 2022, its manager said on Wednesday (Feb 8).
This comes despite a 2.7 per cent dip in net property income (NPI) to US$97.9 million for the period, its latest financial statements showed.
For the second half of FY2022, distributable income fell 10.8 per cent to US$35.8 million, while NPI dropped 13.3 per cent to US$47.1 million.
Manulife US Reit (BTOU): Manulife US REIT (MUST) has reported a distribution per unit (DPU) of 2.14 US cents (2.835 cents) for the 2HFY2022 ended Dec 31, 2022, 18.6% lower than the DPU of 2.63 US cents reported in the 2HFY2021.
This comes after the REIT decided to retain US$3.8 million from its distributable income in the 2HFY2022 for general corporate and working capital purposes on the back of the “volatile macroeconomic environment” and decline in asset valuation. The payout ratio for the 2HFY2022 still stands at 91%. According to the REIT, the implementation of its payout ratio comes as MUST seeks to improve its financial flexibility.
On a like-for-like basis, MUST’s DPU for 2HFY2022 fell by 10.3% y-o-y to 2.36 US cents.
BRC Asia (BEC): Steel solutions provider BRC Asia reported a net profit of S$11.7 million for the first quarter ended Dec 31, 2022, a fall of 12.2 per cent from the year-ago period.
Revenue for Q1 fell 4.5 per cent to S$341.2 million, the company said in a business update on Wednesday (Feb 8).
As at Dec 31, its sales order book stood at about S$1.4 billion, with duration of projects ranging up to 5 years, subject to further changes.
Straco (S85): Tourism attractions operator Straco Corporation is expecting a “substantial net loss” for FY2022, as compared to the net profit recorded in FY2021, the group said on Wednesday (Feb 8).
One reason it cited for the net loss is a decrease in revenue from Straco’s China attractions from FY2021 to FY2022. Additional measures, such as lockdowns imposed by Chinese municipal authorities in line with the zero-Covid policy, impacted visitor numbers, Straco said.
The group also recorded material exchange losses due to the weakened yuan against the Singapore dollar in FY2022. In FY2021, the group recorded exchange gains.