Stocks to watch: CLI, Mapletree Industrial Trust, Hong Leong Asia, Wing Tai, Metro, Aspial Lifestyle
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Apr 29):
CapitaLand Investment : Its total revenue stood at S$487 for the first quarter ended March. This was amid higher contributions from the fee-related business, which makes up 59 per cent of total revenue. It recorded a fee-related revenue of S$310 million for the first quarter ended Mar 31, up 10 per cent from S$281 million in the year-ago period. Revenue for the real estate investment business, comprising 41 per cent of total revenue, fell 14 per cent to S$207 million from S$242 million. The counter ended Tuesday at S$2.81, down 0.7 per cent or S$0.02.
Mapletree Industrial Trust (MIT) : It posted a distribution per unit of S$0.0309 for its fourth quarter ended Mar 31, 8 per cent down from S$0.0336 in the same period last year. The manager said it plans to undertake an additional S$500 million to S$600 million in selective North American divestments to redeploy capital towards sustainable growth. Units of MIT closed 0.5 per cent or S$0.01 higher at S$2.06 on Tuesday, before the results.
Hong Leong Asia : The company on Tuesday has proposed a new placement of 50 million shares at S$2.90 apiece. It amounts to an aggregate consideration of S$145 million, a bourse filing indicated. The placement price represents a discount of around 5.8 per cent to the volume weighted average price of S$3.0771 for trades done on Monday on the Singapore Exchange. Shares of Hong Leong Asia ended flat at S$3.06 on Monday. A request to lift its trading halt came in on Wednesday morning, after it was put in place the day before.
Wing Tai Holdings and Metro Holdings : Wing Tai and Metro’s construction arm, Metrobilt Construction, outbid five others for a Dunearn Road site tender on Tuesday. The bid stood at just under S$533 million, which translated to S$1,624.89 per square foot per plot ratio (psf ppr). It was 3 per cent higher than the next highest bid of S$517 million, or S$1,576.13 psf ppr, from a Frasers Property-led consortium. Shares of Wing Tai Holdings closed flat at S$1.61 on Tuesday, while Metro Holdings’ shares fell 1 per cent to close S$0.005 lower at S$0.49.
Aspial Lifestyle announced on Wednesday that it will move to the main board on May 4 after fulfilling all required conditions. The company, a subsidiary of Aspial Corp, has seen a jump in its metrics including market cap as it rides the surge in gold prices. For its second half, the consumer lifestyle company’s profit rose 34 per cent. The counter was trading at S$0.42 on Wednesday morning, unchanged from the previous day, with a market value of S$770 million.
