Stocks to watch: DBS, Suntec Reit, Frasers Property, Hutchison Port, Zheneng Jinjiang, Creative Tech

THE following companies saw new developments that may affect trading of their securities on Monday (Feb 10).

DBS: The lender posted net profit for the fourth quarter that was 11 per cent higher compared to the year-ago period at S$2.52 billion, but it fell slightly short of expectations. That brought the bank’s full-year net profit to a new record high of S$11.29 billion, up 12 per cent from the year-ago period. DBS also announced a capital return dividend of S$0.15 per share per quarter to be paid out over the financial year 2025. Shares of DBS closed Friday up 0.8 per cent, or S$0.36 at S$44.68, before the announcement.

Suntec Real Estate Investment Trust (Reit): Property tycoon Gordon Tang and his wife Celine have failed to take over Suntec Reit, as their shareholding fell short of the 50 per cent threshold as at the offer closing date. The total number of units owned, controlled, or agreed to be acquired by their investment holding company, Aelios, amounted to about 1.1 billion – or 37.4 per cent of the total issued units. Units of Suntec Reit closed Friday flat at S$1.17, before the announcement.

Frasers Property: It registered S$1 billion in pre-sold revenue across Singapore, Australia, Thailand and China as at Dec 31, 2024. Its net gearing was 86.4 per cent as at end-2024, up from 83.4 per cent as at Sep 30, 2024. This increase was due mainly to capital expenditure and FLCT’s acquisition of an industrial property in Singapore. The company also announced on Friday evening that its board chairman, Thai billionaire Charoen Sirivadhanabhakdi, will retire from office on Feb 8, 2025 and will be succeeded by Chumpol NaLamlieng, the former president of Siam Cement Group. Shares of Frasers Property closed flat at S$0.85 on Friday, before the announcement.

Hutchison Port Holding Trust (HPH): It posted a distribution per unit (DPU) of HK$0.072 for the second half of the year ended Dec 31, 2024, down 6.5 per cent in the corresponding year-ago period. This will be paid on Mar 28, after the record date of Feb 18. Units of HPH Trust fell 2.5 per cent or US$0.004 to US$0.157 on Friday, before the announcement.