Stocks to watch: Ascendas India Trust, Keppel Pacific Oak Reit, Keppel Infrastructure Trust, UOL

THE following companies saw developments that may affect trading of their securities on Thursday (Oct 28):

Ascendas India Trust (a-iTrust): CY6U The business trust posted an 8 per cent increase in net property income to S$39.9 million for Q3 FY21 in a bourse filing after markets closed on Wednesday (Oct 27). The growth was driven by income contribution from a-iTrust's Anchor Annex building in Bangalore and aVance 6 building in Hyderabad, both of which are technology parks. Units of the counter closed unchanged at S$1.40 on Wednesday.

Keppel Pacific Oak US Reit: CMOU The real estate investment trust (Reit) announced its Q3 FY21 distributable income rose 8.4 per cent to US$15.9 million in a regulatory filing after markets closed on Wednesday (Oct 27). Recent acquisitions such as Bridge Crossing in Nashville Tennessee and 105 Edgeview in Denver, Colorado, which were completed in August, have 100 per cent occupancy partly drove the increase. Stronger performance from the Reit's portfolio also helped drive distributable income growth. Units of the counter closed down 0.6 per cent or US$0.005 to US$0.795. on Oct 27.

Keppel Infrastructure Trust (KIT):A7RU The business trust reported a 1.1 per cent decrease in free cash flow to equity to S$44.7 million for Q3 FY21 in a market filing after trading hours on Wednesday (Oct 28). Despite a 6.3 per cent increase in operational cash flow, overall trust expenses, distribution paid or payable to perpetual securities holders, management fees and financing costs jumped 47.2 per cent to S$12.1 million. Operational cash flow was lifted by better performance from KIT's distribution and network business, rising 6.3 per cent to S$56.8 million from S$53.4 million. Units of the counter closed unchanged at S$0.525 on Wednesday.

UOL Group and Singapore Land Group: U14 U06 Its wholly-owned subsidiary's 80:20 joint venture with Singapore Land Group's Singland Residential Development has won a tender to purchase Watten Estate Condominium for S$550.8 million, announced the group on Thursday (Oct 28). The subsidiary, United Venture Investments, will pay 80 per cent of the consideration or S$440.6 million. Shares of UOL closed S$0.01 or 0.1 per cent higher at S$7.33 on Oct 27. Shares of Singapore Land Group closed flat at S$2.70 on Oct 27.

Sunpower Group: 5GD The provider of energy-saving and clean power solutions expects its net profit for the third quarter ended Sep 30, 2021 to be negatively impacted by downstream customers in China who have temporarily reduced their steam consumption. This comes amid rising commodity prices and operational constraints for these customers as power has been rationed in China since September 2021. Shares of mainboard-listed Sunpower closed 6.2 per cent or S$0.035 lower at S$0.53 on Wednesday Oct 27), before the announcement.