Friday, May 6, 2016

StarHub, SingPost, ST Engineering, Oxley, Roxy-Pacific, Ascendas REIT

Here are some stocks that could move the market this Friday morning.

StarHub posted a nearly 26% rise in 1Q earnings to $92.8 million, up from $73.7 million a year ago. This came on the back of a 4.4% fall in revenue to $590 million from $617.9 million, primarily due to lower revenue from the sale of equipment. For 2016, StarHub said that it intends to maintain the annual cash dividend of 20 cents per share. StarHub last closed at $3.30.

Singtel chairman Simon Israel will be named chairman and non-executive director of Singapore Post with effect from May 11, the group said in a filing Thursday night. Israel will replace outgoing chairman Lim Ho Kee, who will not seek re-election as a director at the group's upcoming annual general meeting in July. SingPost closed at $1.58.

ST Engineering announced that ST Kinetics' wholly-own subsidiary Autonomous Technology will divest its 60% equity stake in Guizhou Jonyang Kinetics, the manufacturer of excavators, for a cash consideration of 200 million yuan ($43 million). ST Engineering closed at $3.24.

Property group Oxley Holdings’ 3Q earnings surged 329% to $51.2 million, from $11.9 million the year on gain from the disposal of a long-term investment in Japan. Revenue for the period climbed 33% year-on-year to $202.6 million on higher rental income and revenue recognised using the percentage of completion method on sold units in its Singapore projects. Oxley shares closed at 44.5 cents.

Roxy-Pacific’s 1Q16 earnings shrank 79% to $9.89 million from the same year-ago period. Revenue eased 48% to $102.98 million, largely due to an absence of revenue recognition from completion of Centropod@Changi which obtained its Temporary Occupation Permit in 1Q15. The stock closed at 49 cents.

Ascendas REIT has posted an 8.1% year-on-year drop in 4Q DPU to 3.41 cents from 3.71 cents in the same period a year ago. This was mainly due to performance fees of $9 million. Net property income rose 22.4% to $143.47 million for. Gross revenue climbed 17.4% to $204.04 million. The counter closed one cent higher at $2.40.

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