Stocks to watch: CapitaLand Investment, Suntec Reit, Keppel Infrastructure Trust, Lendlease Global Reit
THE following companies saw new developments that may affect trading of their securities on Tuesday (Feb 4).
CapitaLand Investment (CLI): The asset manager will invest more than US$700 million in a freehold land parcel in Osaka, Japan, to develop a data centre with 50 megawatts of capacity. The company announced on Tuesday that the investment will seed a future data centre fund. Shares of CLI fell 1.6 per cent or S$0.04 to S$2.42 on Monday.
Suntec Real Estate Investment Trust (Suntec Reit): The closing date of the mandatory conditional cash offer made by property tycoon Gordon Tang and his wife to acquire all units of Suntec Reit has been extended to 5.30 pm on Feb 7. Investment holding company Aelios – the offerer – does not intend to increase the offer price, which was raised to S$1.19 a unit. As at 6 pm on Monday, Aelios and its concert parties owned, controlled or agreed to acquire over one billion units, or 35.6 per cent, of the 2.9 million issued units. Shares of Suntec Reit fell 0.8 per cent or S$0.01 to S$1.18 on Monday, before the news.
Keppel Infrastructure Trust (KIT): It posted a 54.2 per cent lower distribution per unit (DPU) of S$0.0195 for the second half ended Dec 31, from S$0.0426 in the year-ago period. The year-ago period included S$0.0233 of special distributions paid out in November. Excluding these distributions, DPU for H2 rose 1 per cent to S$0.0195 from S$0.0193. Revenue for H2 was up 24.6 per cent to S$1.2 billion from S$972.3 million. Units of KIT closed unchanged at S$0.455 on Monday, before the release of its results.
Lendlease Global Commercial Reit (Lendlease Global Reit): DPU for the real estate investment trust (Reit) fell 14.3 per cent to S$0.018 for its first half ended Dec 31, 2024, from S$0.021 in the corresponding period the year before. The Reit’s manager reported that the fall was driven by higher finance costs, lower net property income (NPI), as well as an enlarged unit base. Distributable income declined 11.8 per cent year on year to S$43.5 million. Units of the Reit closed 1.8 per cent or S$0.01 lower at S$0.545 on Monday, before the news.
Keppel Pacific Oak US Reit (Kore): Its manager on Tuesday posted an 8.8 per cent fall in distributable income to US$23.8 million for H2 ended Dec 31, from US$26.1 million in the previous corresponding period. The Reit did not declare any distributions for the period. Its revenue slipped 3.7 per cent to US$72.1 million from US$74.8 million, and its NPI declined 14.1 per cent to US$36.3 million from US$42.2 million. Units of Kore closed unchanged on Monday at US$0.24.
mm2 Asia : Cathay Cineplex, operated by mm2 Asia, has received letters of demand from the landlords of two of its cinemas for about S$2.7 million in alleged rent, legal costs and other monies owed. The mainboard-listed media company said that the cinema chain received the letters from lawyers representing the landlords on Jan 28. Shares of mm2 Asia closed S$0.001 or 8.3 per cent lower at S$0.011 on Monday, before the news.
