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Stocks to watch: AEM, FCOT, MLT, Lum Chang, Keppel Infrastructure Trust, Keppel DC Reit, ST Electronics
THE following companies saw new developments which may affect trading of their shares on Tuesday:
AEM Holdings: The company said on Monday that it expects its operating profit before tax for the 2017 financial year to reach between S$35 million and S$37 million, up from a previous guidance of at least S$32 million. The group's 2017 revenue guidance of at least S$215 million remains unchanged. On Dec 21 last year, AEM announced that it had received sales orders worth S$100 million for delivery for the first half of 2018.
Frasers Commercial Trust (FCOT): FCOT has posted a first-quarter distribution per unit of 2.4 Singapore cents, down 4.4 per cent from 2.51 Singapore cents in the same period a year earlier as property income fell while the number of issued units had increased. Gross revenue for the first quarter ended Dec 31, 2017 dipped 11 per cent to S$35.3 million from the same period a year earlier.
Mapletree Logistics Trust (MLT): Stable performance and new acquisitions gave a lift to results for industrial landlord MLT for its third quarter. Distribution per unit crept up to 1.907 Singapore cents from 1.87 Singapore cents in the year-ago period, despite an enlarged unit base, the group said on Monday evening.
Lum Chang: Its Lum Chang Building Contractors unit has won a tender for the construction of PSA Singapore's corporate headquarters. The contract, valued at S$136.9 million, will involve building a new 20-storey Class A office tower and an adjacent four-storey block with recreational amenities, as well as addition and alteration works at the existing Pasir Panjang Terminal Building 3.
Keppel Infrastructure Trust: It reported a distribution per unit of 0.93 Singapore cent for the fourth quarter, unchanged from the year-ago period, on Monday. Profit attributable to unitholders rose by 25.4 per cent to S$9.6 million for the quarter, due mainly to higher contributions from City Gas. Revenue for the quarter came up to S$158.1 million, nearly 4 per cent higher than the S$152.2 million last year.
Keppel DC Reit: The Reit has posted a fourth-quarter distribution per unit of 1.75 Singapore cents, it announced on Monday. This was an increase of 33.6 per cent on the 1.31 Singapore cents in the same period the previous year.
ST Electronics: ST Electronics said its unit, Telematics Wireless, has been awarded a contract worth US$72 million for the supply of a smart sensor network to Israeli wireless automatic meter manufacturer Arad Technologies.