Singapore stock watch: Keppel, SPH, IHH Healthcare, UOB, Hatten Land

The Singapore Exchange Centre in Shenton Way. ST PHOTO: KUA CHEE SIONG

SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Tuesday (June 30):

Keppel Corp, Singapore Press Holdings (SPH): Conglomerate Keppel Corp is setting up a joint venture (JV) with SPH to develop and operate data centre facilities at the media and property group's Genting Lane property. SPH will hold 40 per cent of the JV company, while units of Keppel will hold the remaining 60 per cent. SPH shares lost $0.01 or 0.8 per cent to close at $1.29, while Keppel shares dropped $0.09 or 1.5 per cent to $5.95, before the announcement.

IHH Healthcare: The Malaysia-registered hospital operator sank into the red for the first quarter, weighed down by impairment on an investment in India and foreign currency translation losses. It reported a loss of RM319.8 million (S$104.1 million), against earnings of RM89.5 million a year ago. IHH shares closed at $1.78 on Monday, rising $0.03 or 1.7 per cent, before the results were released.

United Overseas Bank (UOB): The head of its TMRW digital group, which manages UOB's mobile-only bank operations, is departing the bank. UOB said on Monday that Dennis Khoo will be leaving to "pursue other opportunities". Bloomberg reported that a consortium backed by TikTok owner ByteDance plans to hire Dr Khoo, citing unidentified sources. UOB shares fell $0.27 or 1.3 per cent to $20.08 at Monday's close.

Hatten Land: The Catalist-listed property developer on Monday night said it is looking to acquire a 20 per cent stake in ECXX Global, which provides digital asset exchange services in Singapore, for US$6 million (S$8.4 million). The counter advanced 0.2 cent or 3 per cent to end Monday at 6.9 cents.

Ascott Residence Trust (ART): The trust's manager on Monday evening announced the reset distribution rate of 3.07 per cent for its $250 million perpetual issue. ART earlier decided not to redeem the perpetual securities on the first call date of June 30. ART finished Monday at $0.99, down $0.02 or 2 per cent.

First Real Estate Investment Trust (First Reit): Its wholly-owned subsidiary has served a termination notice to a Lippo Karawaci subsidiary to scrap an agreement for the development of a hospital in Surabaya, First Reit's manager said late on Monday. Units of the trust were flat at $0.70 on Monday.

The Hour Glass Group: The mainboard-listed luxury watch retailer has clocked its best performance to date, reporting earnings of $76.2 million for the full year ended March 31, 2020. Net profit rose 8 per cent, helped by stronger income in the first half of the financial year. The counter closed flat at 66.5 cents on Monday, before the results went public.

AEM Holdings: Apple's move to drop semiconductor giant Intel Corp's chips for future Macs is unlikely to put a dent on AEM's business. AEM may in fact see some upside given that Intel "will be able to dedicate more focus on its data-centric business" once it discontinues supplying chips to Apple, DBS analyst Ling Lee Keng told The Business Times. AEM shares fell $0.07 or 2.3 per cent to close at $2.93 on Monday.

SBI Offshore: The Catalist-listed firm's executive non-independent chairman Mirzan Mahathir has stepped down, as shareholders did not re-elect him at the annual general meeting held on Monday. Mr Mirzan, who is the eldest son of former Malaysia prime minister Mahathir Mohamad, has also retired from his role as a director. SBI Offshore shares last traded at 3.6 cents on June 15.

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