Stocks to watch: UOB, SGX, Genting, Sembcorp, Singapore Land, Riverstone, Daiwa, BHG Retail

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Aug 8):

UOB: Trade loans are expected to contribute more visibly to the bank’s balance sheet over time although they take up a relatively small portion of its total portfolio, said UOB top executives at its Q2 earnings call on Thursday. This comes as UOB’s trade loan portfolio rose 12 per cent year on year in the first half of FY2025. UOB executives also said that the bank will remain looking out for mergers and acquisitions opportunities. Shares of the bank finished on Thursday 1.8 per cent or S$0.64 lower at S$35.81.

Singapore Exchange (SGX): The Singapore bourse announced on Friday that its net profit for the second half ended June 2025 declined 2.6 per cent to S$308 million, from S$316.3 million a year prior. Earnings per share for the half-year period stood at S$0.288, up from S$0.296 for H2 FY2024. The board proposed a final quarterly dividend of S$0.105 per share, up from S$0.09 per share in the same quarter a year ago. If approved, total dividends for FY2025 will stand at S$0.375, representing an annualised increase of 8.7 per cent. Operating revenue for H2 also rose 4.4 per cent to S$688.4 million from S$639.4 million in the corresponding period a year before. Its shares ended Thursday 0.4 per cent or S$0.06 up at S$16.34 before the release of its results.

Genting Singapore: The resort and casino operator Genting Singapore on Thursday reported a 34 per cent drop in profit for the first half of the year to S$234.7 million. Revenue declined 10 per cent to S$1.2 billion, from S$1.4 billion previously, partly driven by a 12.3 per cent drop in gaming revenue to S$839.4 million and a 19 per cent fall in room revenue to S$98.4 million. Shares of Genting Singapore closed on Thursday at S$0.755, up 0.7 per cent or S$0.005, before the results were released. 

Sembcorp Industries: The group on Friday posted a 1 per cent decline in earnings, which fell to S$536 million for the first half ended June 30, on the back of lower turnover from its gas business. Revenue for the half-year was down 8 per cent to S$2.9 billion, on the back of lower generation spreads in Singapore, as well as the absence of contributions from Phu My 3 power plant in Vietnam. Shares of Sembcorp finished on Thursday 1.3 per cent or S$0.10 higher at S$7.80.

Singapore Land Group: The property developer posted a 7 per cent year on year rise in its net profit for the half year of FY2025 ended June, to S$111.4 million from S$103.7 million. On Thursday, the UOL Group subsidiary reported revenue of S$368.3 million, up 8 per cent. Singapore Land Group shares ended 3.9 per cent or S$0.11 up at S$2.91 at the close of trading on Thursday, before its financial results were published.

Riverstone: The glove maker posted a 37.4 per cent year on year drop in net profit to RM45.4 million (S$13.8 million) for the quarter ended June from RM72.5 million as higher cost of sales eroded margin. Revenue decreased marginally by 0.8 per cent to RM244.8 million, said the Malaysia-based, Singapore-listed group on Thursday. Earnings per share stood at 3.06 sen for the period, were lower than 4.89 sen previously. Riverstone Holdings shares were up 2.1 per cent or S$0.015 at S$0.725 on Thursday, before the financial results were published.

Daiwa House Logistics Trust: The manager on Friday posted a distribution per unit (DPU) of S$0.0224 for its second half ended Jun 30, down 8.6 per cent from S$0.0245 in the previous corresponding period. This was attributed to higher interest expenses and lower realised exchange gains. Net property income for the period stood at S$22.5 million in Singapore-dollar terms, up 6.1 per cent from S$21.2 million previously. Units of DHLT closed 0.9 per cent or S$0.005 higher at S$0.575 on Thursday.

BHG Retail Reit: Its DPU fell by 12 per cent to S$0.0022 for its first half year ended June, from S$0.0025 the year before. Revenue for the period was down 10 per cent at S$28.1 million, from S$31.3 million previously. The manager on Thursday attributed this decline mainly to the renminbi weakening against the Singapore dollar, as well as lower occupancy rates and rental support provided to properties in the Chinese cities of Dalian and Xining. Units of BHG Retail Reit closed on Thursday at S$0.425, down 1.2 per cent or S$0.005, before the results were released.  

Trading halt: Tat Seng Packaging Group called for a trading halt on Friday morning before market open, pending the release of an announcement. The counter finished flat at S$0.93 on Thursday.