SINGAPORE STOCK INVESTMENT MARKET UPDATE

Singapore shares opened higher on Thursday after a one-day local holiday and a mixed showing on Wall Street overnight.

The benchmark Straits Times Index rose 11.75 points to 3,261.72 at 9.01am.

Some 105.6 million shares worth S$190.9 million were traded, with gainers outnumbering losers 87 to 48.

The following stocks may be in focus today:

Frasers Centrepoint Limited: It marked a 42.2 per cent drop in net profit for the fiscal second quarter ended March 31 to S$71.2 million, on the back of lower revenue and an absence of a divestment gain compared to a year ago.

For the first half ended March 31, however, net profit was 16.6 per cent higher than a year ago at S$258.8 million and revenue grew 6.9 per cent to S$1.68 billion, underpinned by a higher level of settlement of residential projects in Australia compared to last year, as well as earnings recognition from the completion of Phase 3C1 of Baitang One Suzhou, China.

Hatten Land: The company reported a net loss of RM74.25 million (S$24 million) for the third quarter ended March 31, from a net profit of RM5.65 million in the year-ago period, dragged down by one-off expenses relating to its backdoor listing.

But revenue during the quarter surged 122.6 per cent to RM164.9 million, mainly due to higher progressive sales recognised from the Hatten City Phase 2 and Harbour City projects.

The Trendlines Group: It sank deeper into the red in the first quarter ended March 31 with a S$1.7 million net loss, compared to a net loss of S$770,000 a year ago.

The fair value of its portfolio held steady at US$83.8 million at end-March, compared to US$83.7 million at end-2016 as the increase of its investments was offset by a write-off of three portfolio companies mainly due to business failure or lack of funding, the group said on Tuesday night.

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