Stocks to watch: Keppel DC Reit, MLT, CSE Global, OUE Reit, Alpha Integrated Reit
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jul 23):
Keppel DC Reit : The real estate investment trust (Reit) raised its distribution per unit (DPU) 11.3 per cent to S$0.05714 for its first half ended Jun 30, from S$0.05133 the year before, the manager announced on Thursday. Growth was driven by contributions from positive reversions and escalations secured in prior periods, as well as acquisitions of Tokyo Data Centre 3 and remaining interests in Keppel DC Singapore 3 & 4. Units of Keppel DC Reit closed 0.9 per cent or S$0.02 higher at S$2.34 on Wednesday.
Mapletree Logistics Trust (MLT) : The trust is divesting two China warehouses for a total of 724 million yuan (US$107 million). It is also selling a property in Singapore at 39 Changi South Avenue 2 for S$16.6 million. These are in line with its continued portfolio rejuvenation, the manager said on Wednesday. Units of MLT closed at S$1.20 on Wednesday, down 0.8 per cent or S$0.01, before the announcement.
CSE Global : The group said on Wednesday it acquired US-based SEI Wireless Solutions for US$8 million. It expects to expand its communications business in the infrastructure sector while strengthening its US presence with the move. The deal sees 80 per cent of the cash paid to SEI first, while the remaining amount is subject to any post-closing purchase price adjustments determined within the next 120 days. SEI will henceforth be an indirect wholly owned subsidiary of the company. The counter ended Wednesday 3.9 per cent or S$0.05 lower at S$1.25, before the news. OUE Reit : Its manager on Wednesday said the Reit’s DPU improved 28.6 per cent year on year to S$0.0126, from S$0.0098, for the first half ended Jun 30. This comes on the back of stronger hospitality performance, income contributions from the acquisition of Salesforce Tower, and lower interest expenses due to effective capital management. Revenue was up 3.8 per cent at S$136.1 million for the period, from S$131.1 million a year before. Units of OUE Reit closed flat at S$0.365 on Wednesday, prior to the release of results.
Alpha Integrated Reit : The Reit on Thursday reported a 19.4 per cent year-on-year rise in first half DPU to S$0.0203. This was driven by internalisation cost savings, successful leasing strategy resulting in higher committed occupancy, positive rental reversions and strong tenant retention rate. Units of the Reit closed flat at S$0.515 on Wednesday.
