Stocks to watch: Singtel, CapitaLand, CDL, StarHub, Yangzijiang, Vard Holdings

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

SINGAPORE - The following companies saw new developments which may affect trading of their shares on Wednesday (Aug 8):

Singtel: The telco on Wednesday posted a nearly 7 per cent fall in its first quarter net profit to $832 million, on weaker profits from Airtel and Telkomsel - its regional associates in India and Indonesia - and its reduced economic interest in Netlink NBN Trust. Revenue slipped 0.5 per cent to $4.13 billion for the quarter ended June 30 from $4.16 billion the year ago.

CapitaLand: CapitaLand Limited recorded a 4.4 per cent rise in its net profit for its second fiscal quarter, lifted by contributions from newly acquired and opened investment properties in Singapore, China and Germany, as well as revaluation gains by its portfolio investment properties. For the quarter under review, net profit for one of Asia's largest developers stood at $605.5 million, up from the $580.1 million the year before, on a 35.3 per cent rise in revenue to $1.34 billion. Last year's net profit was restated to reflect retrospective adjustments related to new accounting standards.

City Developments Limited (CDL): CDL on Wednesday reported a second quarter net profit of $204.8 million, up 80 per cent from $114.1 million the year ago. This came on the back of a 60 per cent increase in revenue for the quarter to $1.36 billion this year from $854 million last year.

StarHub: StarHub has posted a dip in service revenue for the half year in line with its full-year guidance, according to unaudited results out on Tuesday. Second-quarter net profit was down to $61.7 million for the three months to June 30, sliding by 22.8 per cent on the previous year, even as turnover grew by 5.4 per cent to $597.3 million on a jump in equipment sales as more premium handsets and smart home apparatus were moved.

Yangzijiang Shipbuilding: Shipbuilder Yangzijiang announced a net profit of 994.9 million yuan ($198.8 million) for its second quarter, up 38 per cent from a year ago. Revenue more than doubled to 7.96 billion yuan from 3.79 billion yuan previously, mainly due to progressive construction and delivery of more larger-sized vessels in Q2, as well as shipping revenue contribution from its newly acquired 60 per cent-owned subsidiary, Jiangsu Huayuan Logistics Co and its wholly own subsidiary, Shanghai Huayuan Shipping Co.

Vard Holdings: The company's shares will be suspended immediately after Fincantieri Oil & Gas's exit offer closes on Aug 8 at 5.30pm, the company announced in a pre-market filing on Wednesday. This follows the stock's loss of free float after the percentage of its shares held in public hands fell below 10 per cent, said the shipbuilder.

Magnus Energy requested a trading halt on Wednesday morning pending the release of an announcement.