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.

Singapore authorities block New Noble listing

SINGAPORE (Dec 10): The Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) have barred Noble Group from transferring its listing status to New Noble as part of its restructuring process. This comes after a “careful review” of the findings to-date from the ongoing investigations into the commodities trader and its Singapore-incorporated subsidiary Noble Resources International (NRI). According to a joint statement by MAS, the Commercial Affairs Department (CAD) and SGX RegCo, the decision to block the New Noble listing arose from doubts about New Noble’....

Balancing profit and motive

SINGAPORE (Dec 10): On Dec 5, the UK government published a trove of internal Facebook emails and other documents that suggested the social media platform sought to trade users’ data with advertisers, or wield it for strategic advantage with third-party applications. Facebook has been under increasing scrutiny amid privacy concerns, and the backlash to the news was to be expected. In its defence, Facebook said it was seeking a way to ensure the sustainability of its business. As a business, Facebook should indeed be looking for the best way to monetise or leverage its assets — users’ ....

Will Wilmar's stricter environmental controls bear fruit?

SINGAPORE (Dec 11): Wilmar International last week signed a joint statement with Aidenvironment Asia, a not-for-profit consultancy in the field of sustainable production and trade, to reaffirm its commitment to “break the link between oil palm cultivation and deforestation, peatland development and social conflicts”. The Dec 7 document was primarily signed between Wilmar chairman and CEO Kuok Khoon Hong and Eric Wakker, Aidenvironment’s co-founder. It comes with Wilmar’s plans to immediately suspend suppliers found involved in deforestation or new development on peatland from Jan....
Active management can deliver attractive returns amid tightening liquidity, says Charles Schwab

SINGAPORE (Dec 10): In the last few years, passive fund management has become increasingly popular a