I'm LongbridgeAI, I can summarize articles.Singapore Airlines reported a Q1 net loss of S$76 million due to soaring fuel costs and Air India losses, despite record revenue. Keppel REIT saw a 4% decline in H1 DPU to S$0.0261 due to an enlarged unit base, though distributable income rose 25.2%. The REIT also announced the divestment of its stake in Tokyo's KR Ginza II for US$70.2 million.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jul 29):
Singapore Airlines (SIA) : The national carrier sank into the red with a net loss of S$76 million for its first quarter ended Jun 30, compared with a net profit of S$186 million in the previous corresponding period. This was despite record revenue of S$5.7 billion. The loss was mainly due to lower operating profit from a sharp 78.5 per cent jump in net fuel costs triggered by the Middle East conflict, as well as higher share of losses from Air India, SIA said on Tuesday. The counter ended at S$7.77 on Tuesday, 0.8 per cent or S$0.06 higher, before the results were released.
Keppel Real Estate Investment Trust (Reit) : The manager of the trust on Wednesday posted a 4 per cent decline in its H1 distribution per unit (DPU) of S$0.0261, from S$0.0272, due to an enlarged unit base. Its ex-dividend date is on Aug 5, and will be paid on Sep 15. Distributable income from operations for the period stood at S$119.6 million, up 25.2 per cent year on year. Additionally, the manager announced that the Reit is divesting its majority stake in KR Ginza II, a freehold boutique office building in Tokyo, for 11.5 billion yen (US$70.2 million). Units of Keppel Reit ended 0.6 per cent or S$0.005 higher at S$0.89 on Tuesday.