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Stocks to watch: Mapletree Industrial Trust, Keppel T&T, Wilmar
THESE stocks had announcements or developments that could influence trading on Wednesday.
Mapletree Industrial Trust: The industrial property landlord posted a 7.3 per cent increase in distribution per unit to 2.79 Singapore cents in the second quarter ended September from 2.60 Singapore cents a year ago. Gross revenue rose 6.2 per cent to S$83 million, led by contribution from the build-to-suit (BTS) project for Equinix Singapore and higher occupancies and rental rates achieved in the portfolio. Net property income increased by 8.6 per cent to S$61 million owing to higher gross revenue, as property operating expenses remained at S$21.7 million for the two quarters
Keppel Telecommunications & Transportation (Keppel T&T): The data centre and logistics provider on Tuesday reported a 17.1 per cent drop in third-quarter net profit to S$15.31 million, from S$18.47 million one year ago. Revenue for the three months ended Sept 30 went down 5.1 per cent year-on-year to S$50.91 million while operating expenses fell 4.7 per cent to S$45.21 million. This, coupled with a 66.3 per cent decrease in other income to S$1.74 million, resulted in operating profit falling 34.5 per cent to S$7.44 million.
Wilmar International: Wilmar was queried by the Singapore Exchange on Tuesday afternoon about unusual price movements. The company replied close to midnight that it was not aware of any information not previously announced about it, its units or associates that might explain the trading. But it said that "in response to inquiries made today to Wilmar's directors as to whether they are aware of the reasons for the unusual trading activity, the company was informed by one of its directors who is a nominee of Archer Daniels Midland Company (ADM), a substantial shareholder of the company, that ADM has purchased shares in the market (reflecting approximately only 22 per cent of total sales volumes for Oct 20) and that ADM will be timely notifying the company in accordance with the required rules".