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Wed, Nov 11, 2020 – 9:06 am
THE following companies saw new developments that may affect their stock trading on Wednesday:
Ascendas Real Estate Investment Trust (Ascendas Reit): As part of its capital fundraiser of S $ 1.2 billion, the Reit has priced its preferential offer to unitholders at S $ 2.96 per new unit and the private placement at S $ 3.026. The Ascendas Reit manager requested a business interruption on Tuesday morning and lifted it on Wednesday. The counter closed at S $ 3.19 on Monday.
Sembcorp Marine (Sembmarine): The offshore and marine engineering group continued to incur losses for its fiscal third quarter ending Sept. 30, with low overall business volume and execution delays, it said in a business update Wednesday morning. Sembmarine added that it “expects the losses to continue into the fourth quarter.” The accountant was up 8.9 percent or 1.1 Singapore cents to close at 13.4 cents on Tuesday.
Keppel Corp: Keppel Land China, a subsidiary of Keppel Land, is selling its 100 percent stake in Chengdu Hilltop Development Co for 1.26 billion yuan (S $ 250.4 million). Shares of Keppel Corp closed at S $ 4.86 on Tuesday, an increase of S $ 0.15 or 3.2% prior to this announcement.
Valuetronics holdings: The motherboard-listed electronics manufacturing service provider posted a 12.1 percent drop in net profit on Wednesday to 91.5 million Hong Kong dollars (15.9 million Singapore dollars) for the six months ending September 30, 2020, up from HK $ 104.1 million a year ago. The meter closed down 1.5 Singapore cents, or 2.5 percent, at 58 cents on Tuesday.
Frasers Property: The real estate developer and manager on Wednesday posted a 66.4 percent drop in net profit to $ 188.1 million for the full year ended September 30, 2020 from $ 560.3 million. Singaporeans a year ago. Shares of Frasers Property closed at S $ 1.14 on Tuesday, up S $ 0.03 or 2.7 percent.
Bukit Sembawang farms: The property developer reported a net profit of S $ 73.7 million for the first half of its financial year ending in September, up 11% from S $ 66.6 million the previous year. Bukit Sembawang shares closed S $ 0.05 or 1.4% higher at S $ 3.66 on Tuesday, ahead of the announcement of the results.
First Real Estate Investment Trust (First Reit): The Reit’s unit distribution fell 53 percent to 1.01 Singapore cents for the fiscal third quarter ending in September, compared with 2.15 cents a year ago. First Reit units closed at S $ 0.44 on Tuesday, an increase of S $ 0.02 or 4.8%, before their trade update.
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