Stocks to watch: Frasers Property, UOL, CDL, GuocoLand, Keppel, Thakral, QAF

The following companies saw new developments that may affect trading of their securities on Friday (Jul 4):

Frasers Property, UOL Group, CDL, GuocoLand, Keppel: In a move to curb rising speculative buying in Singapore’s residential property market, the Government has raised the Seller’s Stamp Duty (SSD) rates by four percentage points, and extended the holding period that SSD applies from three to four years. These changes will take effect for all residential properties purchased on and after Jul 4, said the Ministry of National Development, Ministry of Finance and Monetary Authority of Singapore in a statement on Thursday night. The revised SSD will not affect HDB owners due to the minimum occupation period for HDB flats. UOL is launching Upperhouse at Orchard Boulevard soon, while Frasers Property and Sekisui House are previewing The Robertson Opus this weekend. Prices start at S$3,150 per square foot. Shares of UOL Group closed 1.2 per cent or S$0.08 lower at S$6.62 on Thursday before the news, and Frasers Property shares ended flat at S$0.895. CDL finished S$0.13 lower at S$5.37, and GuocoLand fell S$0.02 to S$1.55. Keppel was unchanged at S$7.71.

Thakral Corp: The mainboard-listed company said on Thursday that its investee company in Australia, GemLife Communities Group, debuted on the Australian Securities Exchange on a conditional and deferred settlement basis. GemLife raised A$750 million (S$628.3 million) from around 180.3 million stapled securities offered at a price of A$4.16 apiece, in Australia’s largest initial public offering (IPO) this year. Thakral subscribed for an additional 600,962 GemLife stapled securities at the IPO price, resulting in a total of about 64 million GemLife stapled securities. The counter ended Thursday 4.7 per cent or S$0.07 lower at S$1.43.

QAF: The food manufacturer and distributor expects profits to fall significantly for the half-year ended Jun 30 due to higher costs, unfavourable foreign exchange rates and increased impairment of its joint-venture investment. The group said on Thursday that it expects a “material reduction” in its profit attributable to owners of the company, compared with its performance in the same period last year. But its revenue for H1 2025 is expected to be comparable to that in H1 2024. Its shares closed flat at S$0.915 before the announcement.

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