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

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

By: 
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

Markets
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 and Russia ink MOUs to foster closer collaboration between startup ecosystems

SINGAPORE (Sept 20): Singapore yesterday signed two memorandum of understanding (MOU), at the High Level Russia-Singapore Inter-Governmental Commission meeting. These MOU were signed to encourage collaboration between the two countries to co-create innovative tech solutions and products, as Enterprise Singapore sees potential for Singapore companies and startups to collaborate with Russia’s strong science and technology capabilities, and established research and innovation culture. Enterprise Singapore signed the first MOU with the Russian Export Centre, Skolkovo Foundation and Sistema....
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mm2 Asia conducts strategic review, exploring possibility of foreign listing

SINGAPORE (Sept 20): mm2 Asia, whose CEO Chang Long Jong is on The Edge Singapore's cover this week, has appointed Haitong International Securities to conduct a strategic review of the group’s businesses. Through the review process, mm2 aims to enhance its corporate profile, branding and market awareness in the North Asia markets where it currently operates. It also hopes to explore the possibility of seeking “a foreign listing of some of the group’s key assets and/or businesses, which may include the cinema operations, to further enhance shareholder value”. In its filing to t....
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Alibaba's Jack Ma says can't meet promise to create 1 million US jobs

SAN FRANCISCO (Sept 20): Alibaba Chairman Jack Ma said the company can no longer meet its promise to create one million jobs in the United States due to US-China trade tensions, Chinese news agency Xinhua reported on Wednesday. Ma had met US President Donald Trump two years ago and laid out the Chinese e-commerce giant's plan to bring one million small US businesses onto its platform to sell to Chinese consumers over the next five years. "This commitment is based on friendly China-US cooperation and the rational and objective premise of bilateral trade," Ma told Xinhua. "The current situ....
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