Stocks to watch: Golden Energy, SIAEC, F&N, IReit Global, Cromwell E-Reit

THE following companies saw new developments that may affect trading of their securities on Monday (Nov 8):

Golden Energy and Resources (Gear): AUE The coal miner is buying BHP Group's metallurgical coal assets for US$1.2 billion through its 75.33 per cent-owned subsidiary, Stanmore Resources. In a bourse filing on Monday, Gear said it will act as Stanmore's guarantor for the acquisition purchase price as well as up to US$600 million in breakup fees should the deal fall through. Gear ended flat at S$0.335 on Friday (Nov 5).

SIA Engineering Company (SIAEC): S59 The mainboard-listed group on Friday (Nov 5) posted a group net profit of S$10.5 million for the second quarter ended Sep 30, reversing from a loss of S$29.7 million in the year-ago period. This took basic earnings per share to 0.94 Singapore cent for the quarter, and 2.23 Singapore cents for the half-year. SIAEC shares closed up S$0.03 or 1.4 per cent at S$2.22 on Friday, before the results were released.

Fraser and Neave (F&N): F99 The beverage and publishing company on Friday (Nov 5) posted a net profit decline of 21.4 per cent to S$61.8 million for the 6 months ended Sep 30, despite a 3.1 per cent rise in revenue, due to unfavourable foreign currency translation, higher input and freight costs, and a lower share of profit from associated company Vietnam Dairy Products Joint Stock Company. F&N shares closed unchanged at S$1.45 on Friday before the results release.

IReit Global: 8U7U A tenant of the real estate investment trust (Reit) intends to vacate a property that accounts for about 11 per cent of the Reit's total gross rental income when the lease expires on Nov 29, 2022. The Reit's manager does not expect any material impact on the Reit's distribution per unit for the financial years ending 2021 and 2022. Units in IReit Global closed unchanged at S$0.65 on Friday (Nov 5) before the news.

Cromwell European Real Estate Investment Trust (Cromwell E-Reit): CWBU The Reit, through its trustee Perpetual Asia, established a S$750 million multicurrency perpetual securities programme on Friday (nov 5), to issue perpetual securities denominated in any currency as agreed with the relevant dealer. Units of Cromwell E-Reit closed at 2.60 euros on Friday, up 0.02 euro or 0.8 per cent, before the announcement.