Stocks to watch: Clar, Keppel Reit, ESR-Logos Reit, Nanofilm, LHN
THE following companies saw new developments that may affect trading of their securities on Tuesday (Apr 23):
CapitaLand Ascendas Reit (Clar): Its manager on Monday reported a higher average rental rate of 16.9 per cent for leases renewed in the first quarter of 2024, up from 15.2 per cent in the previous quarter. It also guided for FY2024 rental reversion to fall within the “positive mid-single digit range”. Units of Clar closed at S$2.55, down S$0.01 or 0.4 per cent, before the business update.
Keppel Reit : Its manager on Tuesday reported net property income (NPI) of S$48.2 million for the first quarter ended March 2024, up 7.2 per cent from S$45 million in Q1 FY2023, due to higher rentals as well as contributions from 2 Blue Street. Distributable income including its anniversary distribution, however, remained flat year on year at S$55.2 million due to higher borrowing costs. Units of the Reit ended Monday S$0.01 or 1.2 per cent higher at S$0.85.
ESR-Logos Reit : The industrial real estate investment trust’s NPI fell 10.8 per cent year on year to S$62.9 million, while gross revenue dropped 8.9 per cent to S$89 million for the first quarter of the fiscal year. This was in the absence of contributions from non-core assets divested in FY2023, said its manager on Tuesday. Net asset value per unit for the quarter stood at S$0.311, down from S$0.32 as at end-2023. ESR-Logos Reit units closed unchanged at S$0.29 on Monday.
Nanofilm Technologies : The mainboard-listed group posted a 19 per cent rise in revenue to S$39 million for its first quarter ended Mar 31, 2024. In a business update on Monday, the company said it also expects FY2024 profitability to improve from the continuous optimisation of cost structures, coupled with lower capital expenditure year on year. Shares of Nanofilm closed S$0.01 or 1.7 per cent higher at S$0.61, before the news.
LHN : Its indirect wholly owned subsidiary has disposed of its 20 per cent interest in Coliwoo (TK) to an independent real estate development company, Macritchie Developments, for S$20,000. Coliwoo (TK) is an LHN subsidiary that is looking to acquire a property through public tender. The acquisition is expected to be completed on May 9, 2024. Shares of LHN closed flat at S$0.32 on Monday, prior to the announcement.
