Stocks to watch: DBS, CICT, Keppel, MNACT, Ascott, CDLHT, Frasers Hospitality Trust

THE following companies saw new developments that may affect trading of their securities on Friday (Jan 28):

DBS: D05 Singapore's largest lender is acquiring the consumer banking business of Citigroup in Taiwan via a transfer of assets and liabilities, announced the bank on Friday morning. DBS will pay Citi cash for the net assets of the business plus a premium of S$956 million. The acquisition is expected to be earnings-accretive immediately after completion. Shares of the bank ended Thursday 0.1 per cent or S$0.05 lower at S$35.26.

CapitaLand Integrated Commercial Trust (CICT): C38U The real estate investment trust (Reit) has announced a distribution per unit (DPU) of S$0.0522 for the second half ended Dec 31, 2021 on Friday. This comprises an advanced DPU of S$0.0485 for the period Jul 1 to Dec 15 that unitholders can expect to receive today, and a remaining DPU of S$0.0037 for the period Dec 16 to 31. Units of CICT closed S$1.96, down 1 per cent or S$0.02, on Thursday.

Keppel Corporation: BN4 The conglomerate posted a net profit of S$722.9 million for H2 FY2021 ended Dec 31, 2021 on Thursday, up from the $31.3 million reported in H2 FY2020. This brought the group's profit for the full FY2021 to S$1 billion, the highest reported net profit in 6 years and a reversal from a loss of S$505.9 million in FY2020. Shares of Keppel Corp ended at S$5.29 on Thursday, down 1.1 per cent or S$0.06.

Mapletree North Asia Commercial Trust (MNACT): RW0U The mall and office landlord posted a higher Q3 net property income of S$85.6 million on Thursday, up 13.1 per cent from a year ago. Gross revenue for the 3 months to Dec 31, 2021, increased 11.8 per cent to S$112.6 million. Units of MNACT ended trading at S$1.09 on Thursday, down S$0.01 or 0.9 per cent.

Ascott Residence Trust (ART): HMN The stapled group on Friday posted a 14.1 per cent rise in its distribution per stapled security to S$0.0227 for the second half ended Dec 31, 2021, from S$0.0199 in the year-ago period, on the back of higher revenue and distribution income. Stapled securities of ART closed flat at S$1.03 on Thursday.

CDL Hospitality Trusts (CDLHT): J85 The stapled group on Friday posted a fall in its DPS by 11 per cent to S$0.0306 for its second half ended Dec 31, 2021, from S$0.0344 a year ago. Gross revenue, however, was up 39.7 per cent to S$91.5 million for the half-year period. Stapled securities of CDLHT closed at S$1.14 on Thursday, down S$0.02 or 1.7 per cent.

Frasers Hospitality Trust: ACV The Reit on Thursday indicated a general growth in revenue per available room (RevPAR) across the portfolio following a gradual recovery in international travel. RevPAR of Australian properties increased 43.1 per cent to S$113 for the 3 months ended Dec 31, 2021 while Singapore's RevPAR rose 12.9 per cent to S$143 and UK's RevPAR more than doubled year on year. The counter ended at S$0.44 on Thursday, down S$0.005 or 1.1 per cent, before the announcement was made.

Frencken Group: E28 The technology solutions provider on Thursday announced its entrance into a sale and purchase agreement to acquire a 50 per cent stake in Malaysian company Penchem Technologies for RM15.6 million (S$5.2 million). The group has also entered into a subscription agreement with Penchem to subscribe for 1.92 per cent of the ordinary shares of Penchem. Shares of Frencken closed at S$1.52, down 6.2 per cent or S$0.10, before the announcement.