Stocks to watch: SATS, Frasers Property, Keppel Infra Trust, Golden Agri, Sasseur Reit, SIA, Singtel

THE following companies saw new developments that may affect trading of their securities on Friday (Nov 12):

SATS: S58 The ground-handling and inflight catering company reported a profit of S$13.2 million for H1 FY2021-2022, reversing out of a loss of S$76.9 million a year ago. In a bourse filing on Friday (Nov 12) before the market opened, SATS said that recovery was driven by higher cargo volumes, ship calls and an income tax credit of S$8.9 million. Shares of SATS closed down 0.2 per cent or S$0.01 to S$4.20.

Frasers Property: TQ5 The mainboard-listed property developer has reversed into the black for the second half of the fiscal year, due to strong contributions from industrial and logistics. Net profit for the 6 months ended Sep 30 stood at S$528.4 million, reversing from a net loss of S$74.8 million in the same period a year ago. Frasers Property shares ended flat at S$1.17 on Thursday (Nov 11).

Keppel Infrastructure Trust (KIT): A7RU Its Australian subsidiary Basslink has entered voluntary administration, announced the trustee-manger on Friday (Nov 12). The decision comes in the wake of ongoing disputes with Basslink's customer Hydro Tasmania and an unsuccessful sale process with APA. Units of KIT ended S$0.005 or 0.9 per cent lower at S$0.545 on Nov 11.

Golden Agri-Resources: E5H The palm oil plantation company on Friday (Nov 12) said it reversed into the back in its third quarter ended Sep 30, 2021, with net profit at US$115 million, compared to a net loss of US$5 million a year ago. This was due to higher average selling prices and an increase in sales volume. Shares of Golden Agri closed at S$0.265 on Nov 11, down S$0.005 or 1.9 per cent.

Sasseur Reit: CRPU The real estate investment trust (Reit) which owns 4 outlet malls in China, posted a 3.8 per cent rise in its distribution per unit to S$0.01831 for the third quarter ended Sept 30, 2021, from S$0.01764 a year ago. In a Q3 2021 financial update on Friday (Nov 12), the Reit manager said total sales in its China malls saw a 12 per cent quarter on quarter growth. Units of the counter closed up 0.6 per cent or S$0.005 to S$0.86, on Nov 11.

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SIA: C6L The flag carrier has reported a smaller net loss of S$427.6 million for the second quarter to September, as passenger traffic rose amid Singapore's launch of vaccinated travel lanes. SIA's cash burn rate also has narrowed to S$18 million per month or S$106 million in the first half of FY2022 as operating performance improved. The counter was S$0.03 higher at S$5.45 at the close of Thursday (Nov 11), before the financial results went public.

Singtel: Z74 The mainboard-listed telco's full-year dividends could rise by about 20 per cent year on year, chief financial officer Arthur Lang told a briefing on Nov 11, after a rebound at key associate Bharti Airtel propelled first-half profits skywards. Singtel's net profit grew by about 104.7 per cent year on year, to S$954 million for the 6 months to Sep 30, as its share of associate and joint-venture results turned positive. Singtel added S$0.01 or 0.4 per cent to S$2.56 on the news.

ComfortDelGro: C52 The land transport operator registered a third-quarter profit after tax and minority interests of S$25.8 million, up 19.4 per cent year on year. Revenue was 7.4 per cent higher at S$880.3 million, lifted by higher revenue from public transport services and automotive engineering services. The counter closed at S$1.56 on Thursday (Nov 11), shedding S$0.05 or 3.1 per cent.

SBS Transit: S61 The public transport operator's third quarter profit-after-tax shrank around 28 per cent year on year to S$13.86 million, it said in a filing with the Singapore Exchange on Thursday (Nov 11). Revenue was 10.9 per cent higher at S$334.85 million, while operating profit fell nearly 28 per cent to S$14.1 million. Shares in SBS Transit closed at S$2.98 on Thursday, down S$0.01 or 0.3 per cent.

Sembcorp Industries: U96 The conglomerate on Friday said it will acquire 98 per cent interest in a portfolio of operational wind and solar photovoltaic assets in China for 3.3 billion yuan (S$700 million). The portfolio will provide Sembcorp with a scalable renewable platform to drive further growth in China. Shares of Sembcorp closed at S$2.05 on Nov 11, down S$0.01 or 0.5 per cent.

Frencken: E28 The machine industry company's earnings rose 10.7 per cent year on year to S$14.77 million in Q3 as it registered higher revenue. Revenue increased 18.7 per cent year on year to S$196.46 million, boosted by stronger sales. The counter closed at S$2.31 on Thursday (Nov 11), gaining S$0.13 or 6 per cent.

Halcyon Agri: 5VJ The natural rubber supply company saw earnings before interest, tax, depreciation and amortisation fall 21.8 per cent to US$9.7 million for the third quarter ended Sep 30. However, revenue in the same period rose 51.9 per cent to US$602.1 million from S$396.4 million a year ago, attributed to robust downstream demand. Shares of Halcyon Agri fell 2 per cent or S$0.005 to close at S$0.245 on Nov 11, before the business update.

Boustead Projects:AVM  The group posted a net profit of S$5.9 million for the first half of its financial year ended Sep 30, 2021, marking a reversal from the S$2.2 million loss it saw in the same period a year ago. The company attributed the rise in total revenue to more normalised revenue recognition on engineering and construction projects in H1 FY2022. Shares closed flat at S$0.99 on Nov 11, before the financial results were released.

Cortina: C41 The mainboard-listed company's earnings surged 74 per cent to S$25.4 million in the first half of its financial year ended Sep 30, from S$14.6 million a year ago. Sales margins also contributed to higher profits, improving to 30 per cent in the latest half year. Cortina shares closed flat on Nov 11 at S$3.80 before its financial results were released.

Old Chang Kee: 5ML The Catalist-listed food and beverage chain posted a net profit decline of 45.1 per cent to S$3.4 million for the first half of its financial year ended Sep 30, from S$6.1 million a year earlier. The group saw its profit margin decrease by 1.7 per cent to 64.3 per cent in H1 FY2022. Its shares closed flat at S$0.69 on Thursday (Nov 11), before the financial results were released.