Stocks to watch: ESR-Logos Reit, Straco, Nordic, Japan Foods

THE following companies saw new developments that may affect trading of their securities on Wednesday (May 25):

ESR-Logos Reit : The real estate investment trust (Reit) will divest 3 Sanitarium Drive, a freehold property comprising industrial buildings in New South Wales, Australia, for A$55 million (S$53.4 million) to the Australasian Conference Association, its manager said on Wednesday. ESR-Logos Reit closed down 1.3 per cent or S$0.005 at S$0.395 on Tuesday.

Straco Corporation : The mainboard-listed tourism attractions operator posted a net loss of S$3 million in its fiscal first quarter ended Mar 31, compared with a net loss of S$390,000 in the year ago period. This came on the back of negative revenue growth from its attractions and business interruptions from Covid-19 measures, Straco said on Tuesday. The counter closed flat at S$0.42 on Tuesday, before the announcement.

Nordic Group : The mainboard-listed engineering services company on Tuesday said its subsidiary will be acquiring a precision-machining and turnkey-manufacturing services company for S$10 million. Nordic said separately that it has clinched S$19 million in contracts, with new and repeat clients from Singapore, Malaysia and China. Shares of Nordic closed flat at S$0.395 before the announcement on Tuesday.

Japan Foods Holding : The Catalist-listed restaurant operator on Wednesday posted net profit of S$4.9 million for the 6 months ended March 2022 on higher revenue, representing a 46.4 per cent increase from S$3.3 million in H2 FY2021. The latest set of results brings the group’s FY2022 net profit to S$3.2 million, down 10.8 per cent from the previous year. Japan Foods ended Tuesday S$0.005 or 1.2 per cent higher at S$0.42.

City Developments Limite d (CDL): The property developer on Tuesday posted a 41 per cent on-year drop in homes sold for the 3 months ended Mar 31, in the first full quarter since property cooling measures were implemented in December 2021. CDL, however, expects the property market to “remain resilient and housing prices to hold firm due to moderate supply and strong underlying fundamentals”. CDL shares closed flat at S$8.09 on Tuesday, after the announcement.