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Tue, October 27, 2020 – 8:59 am
THE following companies saw new developments that may affect their stock trading on Tuesday:
SIA Engineering Co (SIAEC): It has agreed to buy Cebu Air’s stake in SIA Engineering Philippines Corporation and also sell its stake in Aviation Partnership (Philippines) Corp to the Philippine low-cost airline. Shares of SIAEC rose 0.01 Singapore dollars or 0.6 percent to end at 1.73 Singapore dollars on Monday, before the announcements were made.
Singapore Telecommunications (Singtel): The telecommunications company is involved in a legal dispute over the use of music in programs broadcast on its pay TV service. The Singapore Society of Composers and Authors had sought 1.5 per cent of Singtel’s unit SingNet’s annual pay-TV “net income” from April 2013 to March 2019. Singtel’s shares closed flat. changes to 2.12 Singapore dollars on Monday.
Sembcorp Industries (SCI): SCI and SP Group said Tuesday they are collaborating to develop an environmental sustainability platform for businesses and consumers, with a marketplace to trade renewable energy certificates and carbon credits, as well as to provide carbon consulting services. SCI shares closed at S $ 1.48 on Monday, up S $ 0.03 or 2.1%.
Ascendas Real Estate Investment Trust (Ascendas Reit): Although a challenging economic outlook could affect Ascendas Reit’s future performance, its “well diversified” portfolio and tenant base should help mitigate potential problems, its manager said after business hours Monday. The counter closed S $ 0.05 or 1.6% lower at S $ 3.03.
OBJECTIVES Apac Reit: Its second quarter distribution per unit (DPU) fell 20 percent to S $ 0.02, mainly due to lower net property income, management fees paid in full in cash, and an amount set aside for distribution to holders of perpetual values, its manager said Tuesday. AIMS Apac Reit units closed unchanged at S $ 1.21 on Monday.
ARA Logos Logistics Trust (ALog): The trust’s DPU increased to 1,461 Singapore cents for its third quarter ended September 30, 2020, from 1,313 Singapore cents a year ago, the ALog manager announced Monday night. The accountant ended the day at S $ 0.61, down S $ 0.02 or 3.2%.
Aspen (Group) Holdings: The Malaysian Catalist-listed property developer and soon-to-be glove maker plans to transfer its listing to the motherboard of the Singapore Stock Exchange, to increase market visibility and aid future fundraising efforts. Shares of Aspen fell S $ 0.01 or 4.4% to close at S $ 0.22 on Monday before the presentation was made.
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