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Stocks to watch: CDL Hospitality Trusts, AA Reit, Yoma, SingPost
THE following companies made material announcements before the start of trading on Thursday.
CDL Hospitality Trusts (CDLHT): CDLHT reported that its distribution per stapled security (DPSS) slipped to 3.01 Singapore cents for the fourth quarter ended Dec 31, 2015, down 3.8 per cent from 3.13 cents a year ago.
The stapled group - comprising CDL Hospitality Real Estate Investment Trust (H-Reit) and CDL Hospitality Business Trust (HBT) - saw a 2.2 per cent slip in its Q4 net property income (NPI) to S$37.81 million from S$38.65 million.
Total distribution (after retention for working capital) came to S$29.8 million, representing a drop of S$0.9 million, or 3 per cent year-on-year. This contributed to the lower DPSS.
For FY2015, CDLHT registered NPI of S$137 million, down 2.5 per cent from FY2014. As a result, DPSS for the full year stands at 10.06 Singapore cents, down 8.4 per cent from 10.98 cents in 2014.
AIMS AMP Capital Industrial Reit (AA Reit): AA Reit saw a distribution per unit (DPU) of 2.85 Singapore cents for Q3 FY2016 ended Dec 31, 2015, up from 2.83 cents in the corresponding quarter a year ago.
Gross revenue increased 9.5 per cent to S$32.55 million, while net property income edged up 2.7 per cent to S$21.06 million. Distribution to unitholders clocked S$18.11 million, or 2.2 per cent higher.
However, share of results of joint ventures (net of tax) plunged 76.8 per cent to S$3.54 million.
Yoma Strategic Holdings: Yoma reported a net profit of S$25.16 million for the third quarter ended Dec 31, 2015, up from S$7.80 million a year ago.
The bottom line was boosted by other gains (net) of S$30.42 million, compared with only S$3.93 million a year ago. This was largely due to a fair value gain of S$27.7 million for the group's telecom tower business.
Revenue fell 5 per cent to S$23.75 million, down from S$25.01 million due to lower revenue from sales of residences and land development rights.
Earnings per share came to 1.45 Singapore cents for the quarter, up from 0.6 cent a year ago.
Singapore Post: SingPost has entered into a conditional shares sale agreement with Yamato Asia, a wholly-owned subsidiary of Yamato Holdings Co, to pare its stake in its associate company GD Express Carrier (GDEX) for a total of RM239.1 million (about S$78.4 million).
SingPost - which currently holds some 290.74 million shares or a stake of 23.3 per cent in GDEX - is selling 137.42 million shares at RM1.74 per share. Following which, SingPost's stake in GDEX will decrease to 11.2 per cent.
The deal is subject to the completion of a private placement of about 124.89 million shares to Yamato Asia by GDEX, representing 9.09 per cent of GDEX's enlarged capital.
SingPost is expected to recognise a net gain of approximately S$64 million after deducting the net asset value of the sale shares, professional fees, advisory fees and associated costs.