Latest news with #KeppelReit
Business Times
7 days ago
- Business
- Business Times
Stocks to watch: StarHub, SIA, Keppel Reit, Bumitama Agri, Straco, FLCT, SBS Transit, PropNex
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Aug 12): StarHub : The telco on Tuesday announced that its wholly owned subsidiary StarHub Online has acquired the remaining 49.9 per cent stake in MyRepublic's broadband business that it did not already own. The acquisition, which makes MyRepublic Broadband a wholly owned StarHub subsidiary, provides greater strategic alignment between the two groups and strengthens StarHub's position as a provider of broadband and mobile services, the telco said. Shares of StarHub ended Monday 4.9 per cent or S$0.06 lower at S$1.16. Singapore Airlines (SIA) : The national carrier announced on Monday that it will adjust the conversion price of 1.625 per cent of its convertible bonds due 2025 to S$4.6761, from S$4.8945 . The adjustment accounts for the final dividend of S$0.30 per share the group announced on May 15, for the full year ended Mar 31. The adjusted conversion prices will take effect from Aug 12. Shares of SIA closed on Monday 0.3 per cent or S$0.02 down at S$6.51. Keppel Reit : The manager on Monday announced the issuance of S$300 million 3.78 per cent subordinated perpetual securities under its S$2 billion multi-currency debit issuance programme. The securities are set to be admitted to the Singapore Exchange official list on Tuesday at 9 am, as the bourse operator has granted its in-principle approval for the securities' listing and quotation. Units of Keppel Reit finished Monday unchanged at S$0.95, before the announcement. Bumitama Agri: The Indonesian palm oil producer on Tuesday posted a 47.8 per cent rise in net profit to 1.27 trillion rupiah (S$100.2 million) for its first half ended Jun 30, 2025, up from 856.8 billion rupiah in H1 2024. Its revenue stood at 9.74 trillion rupiah, 28.2 per cent up from 7.6 trillion rupiah previously. Shares of the group ended Monday 2.4 per cent or S$0.02 higher at S$0.84. Straco : The tourist attraction developer and Singapore Flyer operator on Monday reported a 49 per cent decline in net profit to S$5.4 million for the first half ended Jun 30 , from S$10.5 million in the corresponding period a year prior. Revenue fell 9 per cent to S$32.7 million, from S$35.9 million in the same year-ago period. This comes on the back of a 'less buoyant' economic outlook, which has affected consumers' confidence and discretionary spending on leisure activities, said the company's executive chairman Wu Hsioh Kwang. The counter closed S$0.01 or 2.4 per cent up at S$0.425 on Monday, before the release of results. Frasers Logistics & Commercial Trust (FLCT) : The manager said on Monday that it is offering S$100 million in fixed-rate notes due 2034 at 2.45 per cent . The notes will be issued on Aug 15 under the real estate investment trust's S$1 billion multi-currency debt issuance programme, and will be issued in denominations of S$250,000 each. Net proceeds from the offering will be used to refinance existing borrowings or fund acquisitions, and may be used for investments, asset-enhancement works and developments, working capital requirements and general corporate purposes, OCBC has been appointed as the sole lead manager and book runner for the notes. Units of FLCT closed down 0.6 per cent or S$0.005 at S$0.88 before the news. SBS Transit : The bus and train operator posted on Monday a net profit of S$31.1 million for the first half of this year , down 7.7 per cent from the same year-ago period. Revenue fell 4.5 per cent to S$745.9 million, from S$781.4 million the year prior. This decrease was attributed to the loss of the Jurong West bus package in August 2024, which was offset partly by higher average rail fares. Earnings per share for the period stood at S$0.0995, down from S$0.108 in H1 2024. The group, however, declared a higher interim dividend of S$0.0895 per share, compared with S$0.0558 a year before. Shares of SBS Transit closed 0.9 per cent or S$0.03 lower at S$3.21 prior to the announcement. PropNex : The real estate agency reported a record net profit for its first half ended Jun 30 at S$42.3 million, more than double the amount in the year-ago period. It rose 122.4 per cent from S$19 million in H1 2024, with revenue up 73.3 per cent at S$598.9 million from S$345.6 million, said the company on Tuesday. The higher revenue was driven by a 7 per cent year-on-year increase in sales and leasing transactions. More than twice the number of new units were sold in H1 2025 at 4,587 units, from 1,889 units in H1 2024. Its counter closed on Monday 8.8 per cent or S$0.13 higher at S$1.61.
Straits Times
23-04-2025
- Business
- Straits Times
Keppel Reit Q1 distributable income falls 3.5% to $48.4 million
255 George Street in Sydney, which Keppel Reit acquired in May 2024, contributed to its higher net property income. PHOTO: KEPPEL REIT SINGAPORE - Keppel Reit reported on April 23 that its distributable income from operations in the first quarter of 2025 fell 3.5 per cent year on year to $48.4 million from $50.2 million previously. Including an annual $20 million anniversary distribution, distributable income fell 3.2 per cent year on year to $53.4 million, from $55.2 million. However, as the Reit manager said that it had elected to receive 25 per cent of its management fees in cash from financial year 2025, it noted that the Reit's distributable income (including its anniversary distribution) would have grown 3.2 per cent if management fees were fully payable in units. Borrowing costs jumped 23.4 per cent on the year to $23.1 million from $18.7 million, following the acquisition of 255 George Street in Sydney in May 2024, as well as the refinancing of borrowings in FY2024, the Reit manager said. Despite this, net property income grew 13.3 per cent year on year to $54.6 million in Q1 from $48.2 million. Property income rose 12.1 per cent to $68.7 million, from $61.3 million. The manager said these increases were due to better performance of its Singapore properties in the Central Business District, higher occupancy at 2 Blue Street, as well as contributions from 255 George Street. Relating to the Reit's interests in One Raffles Quay and Marina Bay Financial Centre, Keppel Reit posted an 11 per cent increase in share of results of associates to $24.3 million year on year, from $21.9 million. The Reit's aggregate leverage stood at 42.1 per cent, with 65 per cent of total borrowings on fixed rates, and an interest coverage ratio of 2.5 times, the manager said. Its portfolio occupancy was 96 per cent, while weighted average lease expiry stood at 4.7 years. Units of Keppel Reit rose 1.8 per cent to 84.5 cents as at 9.09am on April 23. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
