Stocks to watch: ESR-Reit, Aims Apac Reit, FCT, MIT, Sheng Siong, Keppel Infrastructure Trust

THE following companies saw new developments that may affect trading of their securities on Wednesday (Apr 27):

ESR-Reit : The real estate investment trust (Reit) posted a distribution per unit (DPU) of S$0.00723 for its first quarter ended Mar 31, 2022, 9.6 per cent lower than in Q1 last year, due to an enlarged unit base as a result of the issuance of new units following the Reit’s equity fund raising, its manager said in a bourse filing on Wednesday. Units of ESR Reit closed flat at S$0.42 on Tuesday.

Aims Apac Reit : The Reit posted a 4.8 per cent decline in DPU to S$0.0471 for its second half ended Mar 31, although this brings its full-year DPU to S$0.0946, up 5.7 per cent from a year ago. The performance was underpinned by resilient operations at the Reit’s business park and logistics and warehouse properties, continued recovery of the industrial sector and its acquisition of retail company Woolworths’ headquarters, its manager said on Wednesday. Units of Aims Apac Reit closed flat at S$1.43 on Tuesday.

Frasers Centrepoint Trust (FCT): The Reit on Wednesday posted a 2.3 per cent rise in DPU to S$0.06136 for its first half ended Mar 31, 2022, from S$0.05996 a year ago, amid an improved operating and financial performance in the period. Gross revenue was up 1.5 per cent to S$176.2 million for the half-year period, from S$173.6 million a year ago. Units of FCT closed up S$0.02 or 0.8 per cent at S$2.44 on Tuesday.

Mapletree Industrial Trust (MIT): The Reit on Tuesday posted a DPU of 3.49 Singapore cents for its fourth quarter ended Mar 31, 2022, up 5.8 per cent from a DPU of 3.30 cents a year ago. Gross revenue was up 35.5 per cent to S$164.1 million for Q4 2022, from S$121.1 million a year ago. Units of MIT closed at S$2.63, down 1.1 per cent or S$0.03 on Tuesday before the results release.

Sheng Siong : The supermarket operator on Tuesday posted a 13.9 per cent rise in net profit to S$35.1 million for its first quarter ended Mar 31, 2022, from S$30.8 million a year ago. Revenue for the quarter rose 6 per cent to S$358 million, from S$337.5 million a year ago. Shares of Sheng Siong closed flat at S$1.53 before the results release.

Keppel Corporation , Sembcorp Marine : Both entities have entered into a definitive agreement to merge their offshore and marine units in a deal which will help Keppel realise S$9.4 billion in value. Trading in both counters were halted on Wednesday morning. Keppel Corp shares closed 0.5 per cent or S$0.03 lower at S$6.66 on Tuesday, while Sembmarine shares closed 7.4 per cent or S$0.009 higher at S$0.131.

Sabana Industrial Reit (Sabana Reit): Unitholders of the Reit have voted not to endorse the appointment of independent non-executive director Chan Wai Kheong, a hedge fund founder and former Credit Suisse trader, who was appointed to the board of Sabana Reit in June last year. The manager of Sabana Reit said it accepted unitholders' decision on Chan. Units of Sabana Reit closed flat at S$0.45 on Tuesday, before the announcement.

Keppel Infrastructure Trust (KIT): Its trustee-manager on Tuesday said the trust is proposing to issue S$250 million notes with an interest rate of 4.11 per cent per annum due 2027 under its S$2 billion multi-curency debt issuance programme. Units of KIT closed flat on Tuesday at S$0.56, before the announcement.

Jardine Matheson Holdings: Jardine Strategic has failed to convince the Bermuda court to strike out the claims of dissenting shareholders who are seeking the court’s appraisal of fair value of the shares because they had bought the shares after the announcement of its amalgamation. In March 2021, the Jardine group had announced plans to simplify its structure, in which Jardine Matheson would acquire about 15 per cent of the issued share capital of Jardine Strategic that it did not already own at US$33 a share. Shares of Jardine Matheson closed down US$0.77 or 1.4 per cent at US$54.10 on Tuesday.