Stocks in Singapore ended on a mixed note on Tuesday. The Straits Times Index declined 0.43%, or 14.16 points, to end at 3,259.75. Here are some stocks to watch this Wednesday morning.
SMRT Corp's net profit for the third quarter ended Dec 31, 2012 fell 31.2% to $25.5 million despite a 5% rise in revenue to $281.7 million. The rail operator, which also operates buses and taxis, blamed higher operating expenses and significantly higher bus losses for the drop in profit.
Singapore Telecommunications said it has agreed to sell its entire 30% stake in Pakistan's Warid Telecom to a unit of the Abu Dhabi Group for US$150 million ($185 million). "Excluding the value of any future transaction interest, the estimated loss on disposal will be $230 million, including the foreign currency translation losses and transaction costs," SingTel said in a stock market filing.
CDL Hospitality Trusts (CDLHT) posted a distributable income per unit of 2.90 cents for the fourth quarter ended Dec 31, 2012, down 1.4% from the same period a year earlier. Distributable income for the fourth quarter ended Dec 31, 2012 was flat at $31.24 million.
Starhill Global Real Estate Investment Trust (REIT) posted an income available for distribution of $24.88 million for the fourth quarter ended December 2012. This was a 12.1% improvement over that of the previous year. Income to be distributed to unit-holders grew 11.9 per cent to $21.96 million from a year ago, to give a distribution per unit (DPU) of 1.13 cents.
IPC Corporation posted a 30.8% increase in year-on-year net profit to $4.77 million for the fiscal year ended Dec 31, 2012 despite a 61.1% tumble in revenue to $17.07 million.
Ipco International is placing 90 million new shares at 2.052 cents apiece to raise $1.85 million. The placement shares will represent 1.894% of the enlarged issued share capital after the placement. The company said it is undertaking the proposed placement to raise funds for working capital purposes and short-term investments.
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