Corporate digest

ARA Logos Logistics Trust

CACHE Logistics Trust has been renamed ARA Logos Logistics Trust (ALog) effective Tuesday. The real estate investment trust's (Reit) trading name on the Singapore bourse will be changed to ARA Logos Log Tr with effect from 9am on April 30. Meanwhile, its stock code K2LU remains unchanged.

ALog on Tuesday also announced a distribution per unit of 0.997 Singapore cent for the first quarter ended March 31, 2020 from 1.513 cents a year ago. This distribution will be paid out on May 29, following books closure on May 8.

Dairy Farm International

PAN-ASIAN supermarket and convenience-store operator Dairy Farm International's overall performance in the first quarter was "seriously affected" by the Covid-19 pandemic and deteriorating consumer sentiment, said the group in its interim management statement on Tuesday.

Dairy Farm International, part of the Jardine Matheson Group, operates Cold Storage, Market Place and Giant Hypermarket outlets in Singapore. While grocery retail benefited, it was far outweighed by the first-quarter deterioration in the performance of health and beauty in North Asia, the group's 50 per cent-owned associate Maxim's, and the group's convenience business.

AEM Holdings

IN A business update, AEM Holdings announced that it posted a net profit of S$36.1 million for its first quarter ended March 31, 2020, up from S$6.6 million a year ago. Revenue also more than doubled to S$146.8 million, on the back of increased orders from its main customers for tools, consumables, and services.

The group maintains its revenue guidance for FY2020 to be between S$360 million and S$380 million.