Highlights

UOB, CapitaLand, OUE, iFAST, SGX, SIIC Environment, Chip Eng Seng, Singapore O&G

 Source: TheEdge Markets   |   Publish date: Fri, 17 Feb 2017, 08:55 AM   |    >> Read article in News website

SINGAPORE (Feb 17): Here are some stocks that could move the market this Friday morning.

UOB reported 4Q16 earnings of $739 million, 6.2% lower than a year ago. Net interest income remained stable at $1.28 billion as the strong loan growth was offset by a 10 basis point decrease in net interest margin to 1.69%. Non-interest income decreased 6.3% to $753 million in 4Q16. UOB closed 7 cents higher at $20.82.

See: UOB Group's 4Q earnings decline 6.2% to $739 mil

CapitaLand has agreed to acquire a portfolio of four income-producing office and retail properties in Japan's Greater Tokyo Area, at JPY49.7 billion ($620.1 million). CapitaLand says the acquisition will strengthen the group's foothold in Greater Tokyo and increase the its total asset size in Japan to about $2.5 billion. Shares of CapitaLand closed 4 cents lower at $3.45 on Thursday.

See: CapitaLand acquires 3 office buildings and a mall in Tokyo for $620.1 mil

OUE, the property and hotel group, is launching a mandatory unconditional cash offer for International Healthway Corporation (IHC). OUE is offering 10.6 cents each for all the shares it does not own, valuing IHC at $176 million. The offer price is 1.9% higher than the last transacted price of 10.4 cents on Tuesday.

See: OUE launches mandatory unconditional cash offer for International Healthway Corp at 10.6 cents per share

iFAST Corp reported a 59.9% fall in 4Q16 earnings to $1.1 million from a year ago, bringing FY16 earnings down 55% to $5.4 million. iFAST says market conditions were 'very tough", especially in the first half of the year. Shares of iFAST closed at 88 cents.

See: iFAST posts 55% fall in FY16 earnings to $5.4 mil on tough market conditions

The Singapore Exchange (SGX) has launched a public consultation on whether it should introduce dual class share (DCS) structure where certain shares have higher voting rights than others. The consultation will be open for two months. Shares of SGX closed 0.5% higher at $7.63 on Thursday.

See: SGX consults public on possible introduction of dual-class share structure

SIIC Environment posted a 42.3% rise in 4Q earnings to RMB170.3 million ($35.2 million) from a year ago as revenue more than doubled to RMB1.1 billion. This brings FY16 earnings to RMB454.9 million, 26.2% higher than a year ago. Total revenue increased 6.8% to RMB2.65 billion in FY16 from RMB1.80 billion in FY15. The counter last traded at 58 cents.

See: SIIC Environment reports 42% rise in 4Q earnings to $35 mil

Chip Eng Seng posts earnings of $14.9 million in 4Q, an increase of 52.5% from $9.8 million a year ago, on the back of higher revenue. 4Q revenue grew 62.5% to $250.0 million, compared to $153.9 million a year ago, mainly led by higher contribution from its property development and construction divisions. Shares in Chip Eng Seng closed at 71 cents.

See: Chip Eng Seng 4Q earnings up 53% to $14.9 mil

Singapore O&G announced a 64.8% rise in FY16 earnings to $8.8 million from a year ago. Revenue increased by 74.7% to $28.7 million due to contribution of $8.5 million from its new Dermatology segment and increase in patient loads from its Obstetrics & Gynaecology (O&G) and cancer-related segments. Shares of Singapore O&G closed 2 cents lower at $1.32.

See: Singapore O&G reports 65% rise in FY16 earnings to $8.8 mil

Markets
US equities closed mostly lower Thursday, taking a breather from a record-setting run. The Dow rose 0.04% or 7.91 points to end at 20,619.77 while the S&P 500 closed 0.09% or 2.03 points lower at 2,347.22 and the Nasdaq Composite closed 4.54 points or 0.08% lower at 5,814.90.

The Straits Times Index ended 8.21 points higher at 3,096.69. Turnover remained elevated at 3.3 billion units worth $1.37 billion. There were 274 rises versus 215 falls.

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