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Friday, January 22, 2021 – 9:01 AM
THE following companies saw new developments that may affect their securities trading on Friday.
Industrial real estate investment trust that complies with the Sabana Sharia (Sabana Reit): On Friday, The Reit posted a 47.7 percent increase in its distribution per unit (DPU) to 2.29 Singapore cents from 1.55 cents a year ago. Excluding the 0.58 cent withheld from the H1 2020 distribution, the DPU is 1.71 cents, 10.3 percent more than the previous year. Units of Sabana Reit closed unchanged at 37.5 Singapore cents on Thursday.
Frasers Centrepoint Trust (FCT): Its performance during the final three months of 2020 remained resilient with retail portfolio occupancy stable at 96.4 percent, the manager said in a stock presentation Thursday. Going forward, he expects the dominant suburban shopping centers to remain resilient, with FCT well positioned to “take advantage of the omnichannel retail trend.” FCT units closed at S $ 0.02 or 0.8% at S $ 2.61.
Frasers Property: The group announced Thursday that its subsidiary Excellent Esteem is seeking to sell its stake in Beijing Fraser Suites Real Estate Management for 1.6 billion yuan (327.5 million Singapore dollars). Separately, Frasers Property said it expects to be the first Singapore-listed real estate company to make a net zero carbon commitment, with a goal of reaching it by 2050. Before the launch of both announcements, Frasers Property shares closed S $ 0.01 or 0.8 percent more to S $ 1.28.
City Developments Limited (CDL): Given the “unprecedented continuing challenges” facing the Chinese property market, the property developer now expects to make provisions for a material impairment loss on its investment in Sincere Property. CDL said this in an earnings guidance for the full year ending December 31, 2020, as reviewed by its designated external financial advisor, Deloitte, after a series of high-profile resignations in recent weeks. The accountant finished S $ 0.04 or 0.5 percent higher at S $ 7.68 on Thursday ahead of the announcement.
Soil Construction Business Space Reit (Soil Construction Reit): The Reit posted a fourth quarter distribution per unit (DPU) of 1,194 Singapore cents, up 29.1% from 0.925% a year earlier. In its earnings announcement Thursday, its manager’s chief executive officer, Roy Teo, said this “is not indicative of Reit’s future performance” as it includes two quarters of contribution from its Australian portfolio. Ahead of the announcement, Soilbuild Reit units closed the day down Singapore half a cent or 0.9 percent to 53.5 cents.
Penguin International: A consortium consisting of the CEO, Managing Director of Penguin International and a fund from Dymon Asia intends to privatize the company at S $ 0.65 per share. On Thursday night, the company lifted its commercial suspension called on Wednesday morning. His accountant last traded at S $ 0.63 on Tuesday.
Kimly: The wholly owned subsidiary of Catalist-listed coffeeshop consolidator Kimly Makan Place has entered into a joint venture (JV) agreement to manage a coffeeshop in Hougang. The total consideration of Singaporean $ 735,000 was paid in cash using net proceeds from the company’s initial public offering, the group said Thursday after its shares closed a half Singapore penny or 1.5 percent at 33. ,5 cents.
Union Gas holdings: On Thursday, the group said its wholly-owned subsidiary signed a bond underwriting agreement with secure data management service provider Adera AI for an aggregate principal amount of S $ 1 million in convertible bonds. Union Gas shares closed at 54 Singapore cents, an increase of 2.5 Singapore cents or 4.9 percent, ahead of the announcement.
Oceanus Group: Shares of the seafood supplier rose 8.2 percent to 5.3 Singapore cents just 36 minutes after the market opened on Thursday. By mid-afternoon, it had become the most traded stock by volume, prompting inquiries on the Singapore Stock Exchange. Oceanus has responded to say that it is not aware of any information about the company that might explain the unusual trading activity at its counter, which fell at close of business to 4.7 Singapore cents, down 0.2% or 4.1%. than the day before.
ISOTeam: The building maintenance company has been awarded contracts totaling approximately S $ 20.8 million. This brings the total value of insured projects for the financial year ended June 30, 2021 to about S $ 63.1 million, it said in a stock presentation Thursday. These projects are expected to be progressively completed in February 2024. Prior to the announcement, ISOTeam shares closed 0.1 Singapore cents or 0.8 percent lower at 12.7 cents.
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