The Business Times

Stocks to watch: UOB, OUE, Sheng Siong, OUELH, Cromwell E-Reit, SIA Engg

Published Thu, Feb 25, 2021 · 08:33 AM

THE following companies saw new developments that may affect trading of their securities on Thursday:

UOB: The lender's net profit for its fourth quarter ended Dec 31, 2020 fell 32 per cent to S$688 million, compared with S$1.01 billion for the year-ago period. This came as net interest income declined, according to results released on Thursday. Shares of UOB closed at S$23.88 on Wednesday, up S$0.28 or 1.2 per cent.

OUE Limited: The group posted a net loss of S$343.4 million for the year ended Dec 31, 2020, a reversal from the S$255.2 million net profit it reported for FY2019. It attributed the loss to overall net fair-value losses recognised on investment properties and impairment losses on property, plant and equipment and intangible assets. Revenue shrank 43 per cent to S$530.5 million from S$930.8 million a year ago, with declines across all its segments. OUE shares closed at S$1.10 on Wednesday, down S$0.02 or 1.8 per cent.

Sheng Siong: The supermarket operator on Wednesday posted a net profit of S$32.1 million for the fourth quarter ended Dec 31, up 84.9 per cent from S$17.4 million a year ago. Revenue rose 28.8 per cent to S$319.3 million from S$247.9 million for Q4 2019 on the back of elevated demand driven by the pandemic. Shares of Sheng Siong closed at S$1.57 on Wednesday, down S$0.03 or 1.9 per cent.

OUE Lippo Healthcare (OUELH): The healthcare company said in a bourse filing on Wednesday evening that it had been allotted about 163.3 million units of the rights issue of First Real Estate Investment Trust (First Reit). Following the completion of the rights issue, OUELH indirectly owns about 15.4 per cent of the total number of First Reit units in issue, or about 246.9 million units. OUELH shares closed at 3.9 Singapore cents on Wednesday, up 0.2 cent or 5.4 per cent.

Cromwell European Real Estate Investment Trust (Cromwell E-Reit): Its manager on Thursday said it raised total gross proceeds of 100 million euros (S$160.5 million) from a private placement of 232.6 million new units, after the placement was three times subscribed. The issue price was fixed at 43 euro cents per new unit. Following this announcement, Cromwell E-Reit has requested the lifting of a trading halt it called for on Wednesday before the market opened. Units of the Reit last closed at 48 euro cents on Feb 23.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

VIEW ALL

SIA Engineering Company (SIAEC): SIAEC is setting up an Engine Services Division (ESD) to grow its engine services business by consolidating and developing all the engine-related services performed by the company. The division will require more than 100 staff when it commences operations by January 2022. It will also set up a facility for engine quick-turn maintenance, in which engine time off-wing will be minimised to optimise engine availability and reliability on-wing. SIAEC shares rose S$0.01 or 0.5 per cent to finish Wednesday at S$2.

NetLink NBN Trust: Net profit was S$69.5 million for the nine months ended Dec 31, 2020, up 5.9 per cent from S$65.6 million for the corresponding period of the previous year. Revenue for the nine months edged down to S$276.3 million from S$277.8 million. Units of NetLink NBN Trust ended at S$0.94 on Wednesday, down 0.5 cent or 0.5 per cent before the announcement.

KEYWORDS IN THIS ARTICLE

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Capital Markets & Currencies

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here