Singapore stock watch: SIA, SGX, Sabana Reit, Yanlord, ARA H-Trust, AEM

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way.ST PHOTO: KELVIN CHNG

SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Wednesday (Aug 5):

Singapore Airlines (SIA): The flag carrier will likely see a delay in the launch of its new First and Business Class seats, which were poised to debut on the Boeing 777-9 in 2022. SIA is also in talks with the world's biggest planemakers Airbus and Boeing to postpone taking delivery of new aircraft as it seeks to defer capital expenditure. SIA shares gained $0.06 or 1.8 per cent to close at $3.37 on Tuesday.

Singapore Exchange (SGX): The bourse operator will launch two international real estate investment trust (Reit) futures, based on indices tracking Reits listed in Singapore, Hong Kong, Malaysia and Thailand. These products will be Asia's first international Reit futures. Shares of SGX closed at $8.73 on Tuesday, up $0.22 or 2.6 per cent, before the announcement.

Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit), ESR-Reit: Responding to criticism from activist fund Quarz Capital Management over the implied offer price for the proposed merger with ESR-Reit, Sabana Reit's manager on Wednesday emphasised that the deal was not an asset sale, and will allow Sabana Reit unitholders to stay invested in a "stronger, larger and more resilient enlarged Reit". Sabana Reit units ended Tuesday at 38 cents, down 0.5 cent or 1.3 per cent, while ESR-Reit closed flat at 38.5 cents.

Yanlord Land Group: The real estate developer's wholly-owned subsidiary and a GIC affiliate have inked an investment agreement of up to seven billion yuan ($1.4 billion) to co-invest in China residential projects. Shares of Yanlord closed at $1.22 on Tuesday, up $0.01 or 0.8 per cent, before the announcement.

ARA US Hospitality Trust (ARA H-Trust): The stapled hospitality group on Wednesday posted a net property loss of US$2 million and no distributable income for the half year ended June 30, 2020 as its earnings took a hit amid the Covid-19 pandemic. ARA H-Trust stapled securities closed at US$0.38 on Tuesday, up US$0.01 or 2.7 per cent.

First Ship Lease Trust: With a weaker showing in its top line, the trust saw net profit decline by 34.7 per cent to US$1.33 million for the second quarter of this year, dragged by an 11 per cent drop in revenue and a US$3.27 million impairment. Before the results were released, the counter finished Tuesday at 8.2 cents, up 0.1 cent or 1.2 per cent.

OUE Limited: The property developer on Tuesday night reported a $207.2 million net loss for the first half of this year, plunging the mainboard-listed company into the red from a $61.9 million net profit a year ago. OUE shares advanced $0.04 or 3.4 per cent to $1.21 at Tuesday's close.

AEM Holdings: Shares in the semiconductor play climbed to a record high a day after reporting a 147.9 per cent increase in its first-half earnings. The mainboard-listed stock hit an intra-day high of $4.23, before easing to $4.19 by Tuesday's closing bell, gaining $0.53 or 14.5 per cent.

Challenger Technologies: The mainboard-listed consumer electronics retailer's first-half revenue fell 27 per cent, as contributions from the IT products and services business segment tumbled 27 per cent due to the lack of trade shows and weaker retail sales amid the coronavirus pandemic. Challenger shares moved up by 0.5 cent or 1.1 per cent to end at 46.5 cents on Tuesday, before the results were released.

Teckwah Industrial Corporation: In response to calls from activist fund Quarz Capital Management to raise dividend payouts, printing and logistics firm Teckwah has stressed the need for a sound cash management policy, the mainboard-listed firm said in a filing after market close. The counter was up 1.5 cents or 2.8 per cent to end trading at 55.5 cents.

Hatten Land: Blockchain firm ECXX Global, in which Catalist-listed property developer Hatten Land is acquiring a 20 per cent stake, is set to launch a digital securities exchange targeted at institutional and accredited, non-individual investors. Hatten shares last traded on July 29 at 5.7 cents.