Stocks to watch: Far East Hospitality Trust, Japfa, Ascendas Reit, Sheng Siong

The Singapore Exchange Centre along Shenton Way. PHOTO: ST FILE

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Tuesday (July 31):

Far East Hospitality Trust: The trust on Tuesday reported a 4.1 per cent increase in its distribution per stapled security (DPS) for the second quarter, thanks to better performance mainly due to its hotel portfolio. DPS for the three months ended June 30, 2018 stood at 1.01 cents, compared to 0.97 cent. Net property income (NPI) rose 11.2 per cent to $25.7 million, reflecting greater contribution from Oasia Hotel Downtown that has offset softer demand for serviced residences.

Japfa: Indonesia agri-food firm Japfa Ltd saw net profit of US$29.6 million for the second quarter ended June 30, a turnaround from its net loss of US$3.4 million in the year-ago period, it reported on Monday evening after the market closed. Revenue rose 14 per cent to US$901 million from US$790.2 million, driven mainly by higher sales volume and improved margins in its Indonesia animal protein business and a recovery in its Vietnam market. Earnings per share (EPS) for the second quarter were 1.63 US cents, compared to a loss per share of 0.19 US cent for Q2 2017.

Ascendas Reit: The Reit (real estate investment trust) on Monday reported a 1.2 per cent drop in distribution per unit (DPU) to 4.002 cents for the first quarter ended June 30, 2018, from 4.049 cents last year. However, this was due to the absence of a one-off distribution totalling $5.9 million, mainly for upfront fees for some credit facilities. Excluding this, DPU would have grown 4 per cent, the trust said. Total amount available for distribution fell 1 per cent to $117.3 million. NPI (net property income) was 3.8 per cent higher at $159.2 million, while gross revenue rose 1.5 per cent to $216.6 million.

Sheng Siong: The supermarket chain's net profit grew 6.4 per cent to $17.1 million for the second quarter ended June 30, up from $16.1 million in the year-ago period, the group announced on Monday evening. This was on the back of a 5.7 per cent rise in revenue to $213 million, mainly contributed by the opening of new stores and comparable sales from existing stores. Earnings per share for the second quarter rose 6.5 per cent to 1.14 cents, from 1.07 cents for Q2 2017. Sheng Siong has declared an interim cash dividend of 1.65 cents per share.

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