Stocks to watch: Raffles Medical, CapitaLand China Trust, CapitaLand India Trust, MPACT

THE following companies saw new developments that may affect trading of their securities on Monday (Oct 31):

Raffles Medical Group: The private healthcare provider on Monday reported a 62.1 per cent year-on-year increase in net profit to S$38.3 million in Q3, from S$23.6 million for Q3 2021. Its revenue rose 6.5 per cent to S$199.5 million, from S$187.3 million last year. The counter ended flat on Friday at S$1.27.

CapitaLand China Trust (CLCT): The China-focused trust on Monday posted a 7 per cent gain in nine-month gross revenue to 1.4 billion yuan (S$272.3 million) from 1.3 billion yuan. This comes on the back of positive rental reversions from its retail properties, and business and logistics parks. Year-to-date net property income (NPI) rose 7.5 per cent to 970.8 million yuan from 903.4 million yuan in the corresponding period last year. Units of CLCT closed down 0.5 per cent or S$0.005 at S$0.98 on Friday.

CapitaLand India Trust (Clint): Total property income for the India-focused property trust rose 13 per cent for the third-quarter ended Sep 30 to 3 billion rupees (S$53.5 million) from 2.7 billion rupees for the same period last year. This follows higher contributions from three of its properties, while NPI grew 8 per cent to 2.4 billion rupees in Q3, said the manager on Monday. Units of the trust ended flat at S$1.14 on Friday.

Mapletree Pan Asia Commercial Trust (MPACT): On Friday, it posted a 12.5 per cent increase in distribution per unit to S$0.0494 for the first half ended September, with gross revenue and NPI both rising 44.9 per cent each. Its manager said it does not expect a “miraculous” recovery for its Festival Walk retail mall in Hong Kong. MPACT units finished Friday up at 0.6 per cent or S$0.01 at S$1.67, before the news.

Wilmar: The agribusiness giant on Friday posted a net profit of US$766.2 million, up 34.7 per cent from a year ago, for the third quarter ended Sep 30. Revenue increased 10.2 per cent to US$18.9 billion following better sales across the group’s feed and industrial products, and food products businesses. The counter ended at S$3.60 on Friday, down S$0.02 or 0.6 per cent, before the results announcement.

Keppel Reit: The trust is acquiring a 98.47 per cent effective interest in a freehold boutique office building in Tokyo for 8.83 billion yen (S$84.4 million). Its manager said it is expecting Japan’s low interest rate to provide an attractive NPI yield spread and when the property is fully leased. Units of the real estate investment trust finished flat on Friday at S$0.92, before the news.