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Stocks to watch: Reits, First Sponsor, Ying Li, SP Corp
THE following companies saw new developments which may affect trading of their shares on Friday:
First Sponsor Group: The group is taking a 24.7 per cent stake in a consortium that is buying the Hilton Rotterdam hotel in the Netherlands for a total estimated consideration of 50.4 million euros (S$81.5 million). First Sponsor's share of the purchase price is about 12.4 million euros.
Ying Li International Real Estate: Shares of the property firm will resume trading on Friday after the disclosure that CEO and chairman Fang Ming had sold shares through a S$20.7 million married deal to another substantial shareholder of the company. Trading had been halted for two days.
SP Corp: Full-year net profit fell 75 per cent to S$447,000, or 1.27 Singapore cents per share, in 2017 as higher costs and expenses swallowed up a revenue increase, the listed industrial and engineering services subsidiary of Tuan Sing Holdings said on Thursday night.
Mapletree Greater China Commercial Trust: Third-quarter distribution per unit rose 5.1 per cent year-on-year to 1.868 Singapore cents due mainly to a lower translated average cost of debt post re-financing. Gross revenue in the three months ended Dec 31 was S$88.5 million, up 0.7 per cent from the same period a year earlier.
Ascott Residence Trust: Ascott Reit saw a 30 per cent increase in distribution to unitholders to S$43.9 million for its fourth quarter on new acquisitions and a one-off distribution of S$6.5 million to unitholders from the divestment of two Chinese properties.
Parkway Life Real Estate Investment Trust: Fourth-quarter distribution per unit rose 10.6 per cent to 3.38 Singapore cents, lifted by a one-off divestment gain from the sale of four Japan properties.
Frasers Logistics & Industrial Trust: Distribution per unit declined 2.3 per cent to 1.70 Australian cents in the fiscal first quarter ended Dec 31, 2017.
Ascendas Real Estate Investment Trust: Ascendas Reit posted a 0.6 per cent year-on-year dip in distribution per unit (DPU) to 3.97 Singapore cents for the third quarter of FY2017/2018.
This was mainly due to a one-off property tax refund in the prior year and an increase in the number of units in issue.
CDL Hospitality Trusts: The Reit on Friday announced a drop in distribution per stapled security (DPS) of 5.7 per cent for the fourth quarter, to 2.83 Singapore cents.
Viva Industrial Trust: Viva's distribution per stapled security (DPS) rose 5.5 per cent to 1.857 Singapore cents for the fourth quarter as net property income grew 14.3 per cent to S$20.7 million.
Gross revenue for the three months ended Dec 31, 2017 increased by 10.8 per cent to S$28.3 million, supported by positive rental reversions achieved at UE BizHub East and Viva Business Park, as well as by contributions from 6 Chin Bee Avenue.
Sabana Shari'ah Compliant Industrial Real Estate Investment Trust: Sabana Reit has appointed real estate veteran Donald Han as the new chief executive officer of its manager, following a strategic review called for by disgruntled shareholders. As a result of the strategic review, the board has also decided to take a 20 per cent cut to director fees for fiscal 2017 to reduce costs of the manager in support of its partial fee waiver to unitholders.
The trust also reported that DPU for the three months ended Dec 31, 2017, slipped 5.7 per cent to 0.83 Singapore cent per unit.