[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (May 15).
Genting Singapore: The company said its chief executive officer Tan Hee Teck will step down. He will also retire from his position as Resorts World Sentosa chairman and CEO on May 31. Tan was appointed CEO of Genting in May 2022. He first joined the Genting Group in 1982 and held several senior positions across various geographical regions. The counter closed 0.7 per cent or S$0.005 lower at S$0.735 on Wednesday.
ComfortDelGro: The transport behemoth posted a 19 per cent rise in its net profit to S$48.3 million for the first quarter ended March on contributions from last year’s acquisitions and improved margins. It said in an update on Wednesday that revenue rose 16.4 per cent year on year to S$1.2 billion, whereas operating costs climbed at a slower pace of 15 per cent. The mainboard-listed company was confident that its cabbies would not jump ship to Grab. At the Apr 22 annual general meeting, the transport operator’s group chief executive Cheng Siak Kian sought to assure shareholders about the loyalty of its own taxi drivers. ComfortDelGro shares were 0.7 per cent or S$0.01 lower at S$1.52, before this business update was released.
Singapore Post (SingPost): The company’s net profit for the second half ended Mar 31 surged 232.7 per cent to S$222.5 million, from S$66.9 million in the corresponding year-ago period. This was largely due to an exceptional gain from the disposal of its Australia business. Following this sale, the group proposed a special dividend of S$0.09 per share. Excluding the net exceptional gain, SingPost’s underlying net loss for H2 stood at S$461,000, versus a net profit of S$28.1 million in the year-ago period. Revenue was down 12.1 per cent at S$387.5 million from S$440.6 million previously, the group said on Thursday. SingPost shares closed 1.6 per cent or S$0.01 higher at S$0.635 on Wednesday.
Centurion: The dormitory and student accommodation operator’s revenue rose 13 per cent to S$69 million for the first quarter ended Mar 31, from S$61.1 million in the year-ago period. This was driven by positive rental revisions across markets and strong financial occupancies in both Singapore and the United Kingdom. Revenue from the purpose-built worker accommodation segment grew 15 per cent to S$53.4 million from S$46.2 million. Meanwhile, revenue from its purpose-built student accommodation segment rose 2 per cent to S$15 million from S$14.7 million. Shares of Centurion closed S$0.01 or 0.8 per cent down at S$1.25 on Wednesday.
Sasseur Real Estate Investment Trust (Sasseur Reit): The manager of the Reit posted that rental income for the first quarter ended March rose 1.6 per cent year on year to 175.4 million yuan (S$32.5 million), from 172.6 million yuan in the previous corresponding period. However, the rental income was 0.2 per cent lower in Singapore dollar, mainly due to the depreciation of yuan against the Singapore dollar, the manager said on Thursday. Units of Sasseur reit closed 1.6 per cent or S$0.01 higher at S$0.64 on Wednesday.
Manulife US Real Estate Investment Trust (Manulife US Reit): It posted a portfolio occupancy of 69.9 per cent for its first quarter ended March, down from 73.9 per cent in the previous quarter. The manager of the pure-play US office Reit said that this was largely due to the expiry of leases at its Diablo property in the submarket of Tempe, Arizona. Notable leases executed over the quarter included the Phipps’ and Centerpointe’s new leases of 27,000 square feet (sq ft) and 29,000 sq ft, respectively. Units of the Manulife US Reit closed 1.6 per cent or US$0.001 lower at US$0.063 on Wednesday.
