Stocks to watch: CapitaLand Ascendas Reit, Cromwell E-Reit, SIA

THE following companies saw developments that may affect the trading of their securities on Tuesday (Dec 17):

CapitaLand Ascendas Reit (Clar): The real estate investment trust (Reit) is proposing to acquire logistics property DHL Indianapolis Logistics Center in Whiteland, Indianapolis, Indiana, for S$150.3 million. This will also represent Clar’s first sale-and-leaseback acquisition in the US, said the manager on Tuesday. Units of Clar closed flat on Monday at S$2.55.

Cromwell European Reit (Cromwell E-Reit): The Reit’s manager said on Tuesday that it will refinance office loans early with a higher all-in interest rate facility. The European-focused Reit entered into a new five-year and one-month secured debt facility agreement for an aggregate amount of about 82.4 million euros (S$116.9 million) with ABN Amro Bank secured against three office assets in the Netherlands. To offset the higher interest costs, the Reit received four million euros from its sponsor. This will ensure that its distributable income will not be affected by the early refinancing. Units of Cromwell E-Reit ended Monday 0.01 euro or 0.6 per cent lower at 1.59 euros.

Singapore Airlines (SIA): Passenger traffic for the two carriers under the group was 8.3 per cent higher year on year in November 2024. The company added that passenger traffic, which measures the demand for an airline’s service and is derived by multiplying the number of paying passengers by the distance travelled, came in at 12.9 billion for the month, from 11.9 billion a year earlier. Both the national carrier SIA and the budget airline Scoot carried a total of 3.3 million passengers throughout the month, a 7.5 per cent increase from the same period the previous year. SIA’s shares closed S$0.01 or 0.2 per cent lower at S$6.41 on Monday.