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Thursday, October 22, 2020 – 8:33 am
THE following companies saw new developments that may affect their securities trading on Thursday:
City Developments Limited (CDL): Its shares fell 7.2 percent to close at 7.08 Singapore dollars on Wednesday, hours after the real estate giant announced that director Kwek Leng Peck had resigned due to disagreements with management and the board.
CapitaLand Mall Trust (CMT): Its distribution per unit (DPU) increased 1.3 percent on the year to 3.1 Singapore cents for its third quarter. This included the release of S $ 36.4 million during the three months, or about 78 percent of the taxable income available for distribution withheld in the first half of the year. Units of CMT closed at S $ 1.91 on Wednesday, down S $ 0.01 or 0.5%.
Keppel Infrastructure Trust (KIT): Its distributable cash flow fell 18.8 percent to S $ 45.2 million in the third quarter. This was mainly due to a 32.9 percent drop in distributable cash flow for the distribution and networks sector. Its waste and water segment also saw a 3.8 percent drop. KIT units were up 0.5 Singapore cents or 0.9 percent to finish at 55.5 cents, ahead of the trade update.
Suntec Real Estate Investment Trust (Suntec Reit): It posted a Q3 DPU of 1,848 Singapore cents, down 21.9% from a year ago. The Suntec Reit manager said the results, released Thursday, were supported by resilience from the office portfolio in Singapore and Australia. The accountant closed S $ 0.01 or 0.7% higher at S $ 1.46 on Wednesday.
Keppel Pacific Oak US Reit (KORE): Its distributable income for the third quarter increased 18.5 percent year-over-year to $ 14.7 million. In an operational update Wednesday after business hours, the KORE manager said the growth was driven by contributions from One Twenty Five in Dallas, as well as new and expansion leases in Seattle and Denver. KORE units ended unchanged at 70.5 cents.
Keppel Corp: Its wholly-owned subsidiary, Lipalton, has completed its investment in Kapstone Constructions and now owns 49 percent of the total voting rights in the joint venture, Keppel said after business hours Wednesday. Kapstone will develop an integrated municipality in Mumbai, as announced last December. Keppel’s shares fell S $ 0.05 or 1.1% to close at S $ 4.50.
Frasers Centrepoint Trust (FCT): Its preferential offer, based on 290 new units for every 1,000 existing units, was oversubscribed, the FCT manager said Wednesday night. Therefore, the offering will generate gross revenues of approximately S $ 759.7 million, with some 324.6 million units to be issued at S $ 2.34 each. The counter ended flat at S $ 2.35 on Wednesday.
Alibaba Picture Group: The Chinese film company expects a 35-40 percent drop in its unaudited revenue during the six months to September 30, 2020, while the net loss will be reduced by 55-60 percent. The double-traded stock was flat at HK1.05 as of Wednesday’s close, ahead of the earnings warning.
ISEC Healthcare: The Catalist-listed eye care medical provider’s net income increased 47 percent year-over-year to S $ 2.58 million for the third quarter, due to the absence of an impairment loss and the addition of government grants and rental discounts of Covid-19 support measures. .
Venture Corp: Shares in the motherboard-traded electronics manufacturing services firm hit a 52-week intraday high of Singapore $ 21.21 on Wednesday morning. The shares ended the day at S $ 20.97, an increase of 1.6 percent or S $ 0.32.
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