Stocks to watch: Keppel, FCOT, GuocoLand, CCT, GL, Creative

Stocks to watch: Keppel, FCOT, GuocoLand, CCT, GL, Creative

PC Lee
20/10/17, 08:55 am

SINGAPORE (Oct 20): Here are some stocks that could move the market this Friday morning:

Keppel Corporation announced earnings of $291.8 million for the 3Q17 ended Sept, up 30% from $224.5 million in 3Q16. This came on the back of higher profits from the group’s China and Vietnam property trading, power & gas and asset management businesses, as well as the sale of investments. Revenue for the quarter grew 11% to $1.6 billion. Shares in Keppel Corp closed 11 cents lower at $7.02 on Thursday. 

See: Keppel posts 30% rise in 3Q earnings to $292 mil; announces new urban solutions unit


Frasers Commercial Trust’s manager has announced a DPU of 2.41 cents, down 1.6% from 2.45 cents a year ago. Gross revenue fell 2.6% to $38.3 million while net property income fell 8.7% to $26.7 million. Units of FCOT closed at $1.40 on Thursday.

See: Frasers Commercial Trust’s 4Q DPU falls 1.6% to 2.41 cents

GuocoLand saw its earnings surge more than sixfold to $165.6 million for the 1Q ended September, from $25.6 million a year ago. This was mainly due to a higher share of profit of associates and joint ventures. Revenue in 1Q grew 79% to $362.0 million, from $202.8 million a year ago. Shares in GuocoLand closed 2 cents lower at $2.41 on Thursday.

See: GuocoLand 1Q earnings surge sixfold to $165.6 mil on higher share of profit of joint venture

CapitaLand Commercial Trust (CCT) has declared a distribution per unit (DPU) of 2.36 cents for 3Q17, up 2.6% from 2.30 cents a year ago on lower operating expenses, stronger performance from CapitaGreen as well as a one-off gain. Gross revenue fell by 0.4% to $74.1 million. Units in CCT closed flat at $1.66 on Thursday.

See: CapitaLand Commercial Trust posts 2.6% rise in 3Q DPU to 2.36 cents

GL Limited reported a 58% increase in earnings to US$17.4 million ($23.6 million) for the 1Q ended Sept, from US$11.0 million a year ago. This was due the absence of other operating expenses for a one-off provision for a legal claim against a subsidiary in the UK in 1Q17. Revenue in 1Q18 was stable at US98.0 million. Shares in GL closed 1 cent lower at 86 cents on Thursday.

See: GL Limited 1Q earnings up 58% to $23.6 mil on absence of one-off provision

Creative Technology posted 1Q18 ended Sept earnings of US$22.8 million ($30.9 million), compared to a loss of US$6.21 million in 1Q17. Other gains saw a US$31.6 million increase to US$32.0 million, compared to US$459,000 last year. This was mainly due to US$31.2 million received from settlement of patent lawsuits. Revenue dropped 7% to US$16.1 million. Shares in Creative closed at $1.18 on Thursday.

See: Creative Technology swings back to profitability in 1Q on settlement from lawsuits

The Dow and S&P 500 eked out record closing highs on Thursday, turning higher at the last minute after a Politico report that Federal Reserve Governor Jerome Powell is the leading candidate for the nominee for Fed chair. The Dow Jones Industrial Average rose 5.44 points, or 0.02%, to end at 23,163.04, the S&P 500 gained 0.84 point, or 0.03%, to 2,562.1 and the Nasdaq Composite dropped 19.15 points, or 0.29%, to 6,605.07.

The benchmark Straits Times Index (STI) added 5.88 points or 0.18% to finish the session at 3,334.91, supported by some banking and property stocks. Turnover for the day came in at 3.2 billion units valued at $1.6 billion. Excluding warrants, the advance-decline score was 180 to 285.

Sysma awarded $5 mil construction contract by deputy CEO

SINGAPORE (Jan 16): Sysma Holdings’ wholly-owned subsidiary Sysma Construction has been awarded a $5 million contract for the construction of two two-storey detached houses at Medway Drive in Serangoon Gardens. The contract was awarded by Sin Ee Wuen, Sysma’s deputy chief executive officer, and the son of Sysma’s executive chairman and group CEO, Sin Soon Teng. As such, the deal constitutes an interested person transaction. Sin had appointed Ernesto Bedmar Architects as the consultant for the project. The architectural firm had issued the letter of acceptance of tender to Sysma ....

Slower economy, oversupply push Singapore's rental prices down for expats

(Jan 16): Hong Kong retained its title as Asia’s most expensive rental city for expatriates, while Singapore fell further down the ranking due to a slower economy and fewer relocations, according to consultancy firm ECA International. Hong Kong sat atop the list with an average price of $10,461 per month for an unfurnished, three-bedroom apartment in expatriate neighborhoods, according to results from ECA’s September 2017 accommodation survey. Tokyo held onto the No. 2 spot. Singapore slipped one spot to eighth. “This is due to a slowing of economic growth and a net reduction in in....

UMS Holdings acquires 7.48% stake in JEP Holdings for $5.7 mil

SINGAPORE (Jan 16): UMS Holdings, the precision engineering company, today announced that it has acquired a 7.48% stake or 109 million ordinary shares in JEP Holding for $5.7 million. The shares were acquired through the open market. The group satisfied the consideration in cash, funded through internal resources. Shares in UMS Holdings closed flat at $1.04 on Tuesday, while shares in JEP Holdings closed 0.1 cent lower at 6 cents. ....