Stocks to watch: ESR-Reit, Keppel Reit, Sembmarine, Penguin, Procurri, Olam

THE following companies saw new developments that may affect trading of their securities on Thursday:

Mapletree Logistics Trust (MLT): The trust posted a distribution per unit (DPU) of 2.161 Singapore cents for the three months ended March 31, 2021, up 5.5 per cent from the year-ago period. MLT units closed at S$1.96 on Wednesday, down 1 per cent or S$0.02, before the results announcement.

Ascendas India Trust: The trust saw net property income rise 5 per cent in the first quarter to 2.1 billion rupees (S$38.4 million), from two billion rupees in the year-ago period. Units of Ascendas India Trust ended Wednesday at S$1.48 before the announcement, down 1.3 per cent or S$0.02.

ESR-Reit: The real estate investment trust (Reit) on Thursday posted a core distribution per unit (DPU) of 0.8 Singapore cent for the first quarter, up 14.8 per cent from 0.697 cent the year before. Distributable income was up 17.1 per cent to S$28.7 million mainly due to higher net property income and lower borrowing costs. ESR-Reit units closed at 40.5 Singapore cents on Wednesday, up 0.5 cent or 1.3 per cent.

Keppel Reit: The Reit on Wednesday reported a 22 per cent rise in distributable income to S$51.6 million for the first quarter of 2021, up from S$42.3 million in the year-ago period. Units of Keppel Reit closed flat at S$1.21 on Wednesday, prior to the announcement.

UMS Holdings, JEP Holdings: Mainboard-listed precision engineering firm UMS Holdings has launched an offer for JEP Holdings, after a purchase of 13.1 per cent of Catalist-listed JEP triggered a mandatory offer requirement. UMS shares closed flat at S$1.36 on Wednesday, while JEP ended 10 per cent or S$0.02 higher at S$0.22.

Sembcorp Marine: The marine and offshore engineering group and high-speed craft builder Penguin International are working with Shell to trial the maiden use of hydrogen fuel cells for ships in Singapore. Sembcorp Marine shares closed flat at 20.5 Singapore cents on Wednesday, prior to the announcement.

Penguin International: The offer for the shipbuilder's shares closed on Wednesday with total acceptances of 63.2 per cent. The offeror and its concert parties will own 80.05 per cent of Penguin. Shares of Penguin International closed unchanged at S$0.65 on Wednesday, before the announcement.

Procurri Corporation: The mainboard-listed tech company has received a letter from shareholder ICH Gemini Asia Growth Fund indicating that ICH Gemini intends to vote against Novo Tellus' partial offer to purchase Procurri's shares at 36.5 Singapore cents apiece. ICH Gemini holds approximately 3.9 per cent of Procurri's shares. Procurri closed at 35.5 cents on Wednesday before the announcement, down 1.4 per cent or half a cent.

Olam International: The agrifood giant has entered into a joint venture with Mondelez International to develop a sustainable commercial cocoa farm in Indonesia through the subscription of a 50 per cent interest in AztecAgri for US$10.8 million. Olam also plans to issue S$50 million 5.375 per cent subordinated perpetual securities. Shares of Olam ended 1.7 per cent or S$0.03 lower at S$1.72 on Wednesday, before the announcements.