Stocks to watch: Cromwell E-Reit, Riverstone, Sunningdale, Bumitama Agri, Vicom

THE following companies saw new developments that may affect trading of their shares on Tuesday:

Cromwell European Real Estate Investment Trust (Cromwell E-Reit): Its indicative distribution per unit (DPU) rose 5.8 per cent quarter on quarter to 0.882 euro cent for the three months ended Sept 30, Cromwell E-Reit's manager said on Tuesday. The counter closed flat at 44.5 euro cents on Monday.

Riverstone Holdings: The Malaysian glove maker on Monday posted a net profit of RM178.6 million (S$58.2 million) for its third quarter ended Sept 30, 2020, a 400 per cent jump from RM35.6 million for Q3 2019, unhampered by rising packaging and raw material costs. Its shares closed down S$1.74 or 47 per cent at S$1.96 on Monday, before the announcement.

Sunningdale Tech: Its chairman Koh Boon Hwee is teaming up with Novo Tellus PE Fund 2 to make an offer for the precision plastic components manufacturer at S$1.55 in cash per share via a scheme of arrangement, the company said on Monday evening. Its shares were up S$0.10 or 6.3 per cent at S$1.68 before it called for a trading halt during the Monday midday break. It requested to lift the trading halt on Monday evening.

Bumitama Agri: It announced on Tuesday higher revenue and net profit for the first nine months of its fiscal year from a year ago, on higher prices of palm oil. Net profit attributable to owners of the company rose 48.8 per cent to 632.14 billion rupiah (S$60.6 million) for the nine-month period ended Sept 30, 2020. Its shares closed up 0.5 Singapore cent or 1 per cent to 51.5 cents on Monday.

Vicom: The vehicle-inspection firm posted a 5 per cent slip in its profit after tax and minority interest for the third quarter ended Sept 30, from S$7.15 million a year ago to S$6.82 million. Vicom shares closed unchanged at S$2.02 on Monday, prior to the results announcement.

EC World Real Estate Investment Trust (EC World Reit): The real estate investment trust's (Reit) DPU dropped 6.8 per cent to 1.388 Singapore cents for the three months ended Sept 30, from 1.489 cents a year ago. Units of EC World Reit closed at 70.5 Singapore cents on Monday, up one cent or 1.4 per cent, before the announcement.

Far East Orchard: The mainboard-listed hotel operator and property developer has sunk into the red with a net loss of S$6.3 million for the nine months ended Sept 30, compared with a net profit of S$5.4 million a year ago. The counter closed flat at S$1 on Monday, before the release of its business update.

Elite Commercial Reit: The manager of the Reit on Monday posted a DPU of 1.23 pence (S$0.02) for its third quarter, which is 1.7 per cent higher than what it had forecast in its listing prospectus. The Reit closed flat at 63.5 pence on Monday, before the announcement was made.

Aspen (Group) Holdings: Shares in the Catalist-listed Malaysian property developer and soon-to-be glove maker rallied 15.1 per cent or four Singapore cents to 30.5 cents by the closing bell on Monday, after it announced a proposed placement to raise up to S$23.8 million.

Dyna-Mac: The offshore oil and gas contractor on Monday said it has secured fabrication projects for a total provisional sum of S$157.5 million. Separately, it posted a net loss of S$32.6 million for its three months ended September, versus a profit of S$142,000 a year ago. Shares of Dyna-Mac closed down 0.1 Singapore cent or 1.2 per cent to 8.3 cents on Monday before the announcement.

Trading halt: Ascendas Reit's manager on Tuesday morning requested a trading halt, before announcing the proposed acquisition of two office properties in San Francisco for US$560.2 million. Ascendas Reit also launched an equity fundraising to raise gross proceeds of about S$1.2 billion. Units of Ascendas Reit rose S$0.02 or 0.6 per cent to finish at S$3.19 on Monday.