Wednesday, October 14, 2015

Hot stocks to watch: CapitaLand, SPH, SIA, GLP, Lian Beng, First REIT

Here are some stocks to watch this Wednesday morning.

CapitaLand announced it is in negotiations together with other parties and the seller of Asia Square Tower 1 for a potential transaction involving Asia Square Tower 1. This follows recent media reports regarding the acquisition of Asia Square Tower 1 by a consortium of Norway’s sovereign wealth fund and CapitaLand. CapitaLand closed at $3.13 on Tuesday.

Singapore Press Holdings reported earnings for the financial year ended Aug 31 tumbled 20.4% to $321.7 million from a year ago on lower fair value gain on investment properties and the absence pf a one-off gain in the previous year from a partial divestment. Revenue fell 3.1% to $1.18 billion. SPH closed at $4.

Singapore Airlines has signed an agreement to be the launch customer for a new ultra-long-range variant of the Airbus A350 aircraft. This will enable the airline to resume non-stop flights between Singapore and the United States. SIA has 63 A350-900s on firm order. The new agreement with Airbus will see seven of these upgraded to orders for the A350-900ULR which will have a range of up to 8,700nm. SIA shares closed at $11.02.

Global Logistic Properties has leased out 1.2 million sq ft to three new customers in Greater Tokyo.The provider of modern logistics facilities says it leased out the space on two development properties that have yet to complete construction, namely GLP Atsugi II and GLP Sayama-Hidaka. GLP closed at $2.25.

Construction company Lian Beng Group reported a 169.5% increase in 1Q earnings to $32.3 million from a year ago on the back of the group’s share of results from associates and joint ventures. Revenue for the three months to August decreased 19.1% to $135.6 million, mainly due to the decrease in revenue from its construction segment and the ready-mixed concrete segment. Lian Beng closed at 51 cents.

Healthcare property trust First REIT posted a 3% y-o-y rise in distribution per unit (DPU) to 2.08 cents for 3Q. For the three months to September, distributable income rose 6.2% to $15.6 million, while net property income grew 6.8% to $25 million. First REIT closed at $1.34.

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