Stocks to watch: NetLink NBN Trust, Sembcorp Marine, AA Reit, ESR-Reit, Oceanus

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

NetLink NBN Trust: The fibre optic cable owner on Monday reported a 5.3 per cent year on year increase in net profit to S$24.8 million for its first quarter ended June 30, 2021 on higher installation-related revenue. This came as the group’s contractor resources returned to normal levels compared with the same period a year ago as it was affected by the “circuit breaker” then. NetLink shares rose 0.5 Singapore cent, or 0.5 per cent, to close at 97 cents, before the announcement.

Sembcorp Marine (Sembmarine): Its shareholders have voted in favour of the company’s controversial S$1.5 billion rights issue announced on June 24, it said in a bourse filing on Monday. Sembmarine said the latest rights issue is critical to overcome the challenges of the Covid-19 pandemic, including supply chain disruptions and a lack of skilled manpower, which has impacted yard operations and its ability to complete projects. Its shares ended Monday at 10.7 Singapore cents, up 3.9 per cent or 0.4 cent, after the voting results were released.

AIMS APAC Reit: The real estate investment trust’s (Reit’s) manager announced on Monday it has priced S$250 million in perpetual securities at 5.375 per cent per annum, to be used for general corporate purposes of the Reit and its subsidiaries. Units of AIMS APAC Reit last closed at S$1.50 on Monday, down S$0.01 or 0.7 per cent, before the announcement.

ESR-Reit: The Reit’s preferential offering of 124.1 million new units raised gross proceeds of S$49.6 million and was 3.6 times subscribed, the manager said on Tuesday. This brings the total amount of gross proceeds for the equity fundraising to S$149.6 million, including a S$100 million private placement. Units of ESR-Reit closed 2.1 per cent or S$0.01 higher at S$0.48 on Monday.

Oceanus Group: On Monday it announced the incorporation of a new subsidiary in China to “trade in global food supply chain management and strengthen food security within the region”. It also said that the Singapore Exchange Regulation was “in close communication” with Oceanus on its application to exit the SGX watch list. Shares of Oceanus ended Monday at 3.6 Singapore cents, up 0.1 cent or 2.9 per cent, after both announcements were made.

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iX Biopharma: The Catalist-listed pharmaceutical company on Monday reported that its loss for the financial year ended June 30 narrowed to S$8.2 million from its previous year’s loss of S$10.5 million. According to the group, this was due to higher revenue which was boosted by demand for the group’s nutraceutical products and WaferiX-based product development services from pharmaceutical companies in China. Shares of iX Biopharma closed half a Singapore cent or 2.2 per cent higher at 23.5 cents on Monday, before the results were released.

No Signboard Holdings: It has recorded an impairment loss of over S$478,000 due to losses incurred by its restaurants affected by the Covid-19 pandemic, the Catalist-listed restauranter said in response to a Singapore Exchange query on Monday. Shares of No Signboard ended the day unchanged at 4.1 Singapore cents, before the news.