Stocks to watch: CLI, FEHT, Centurion, Grand Banks Yachts

THE following companies saw new developments that may affect trading of their securities on Wednesday (Feb 14):

CapitaLand Investment (CLI): The real estate investment manager has set up a new lodging private fund with a target equity size of US$600 million. The CapitaLand Ascott Residence Asia Fund II will be CLI’s second private fund focusing on serviced residence and co-living assets, it said on Wednesday. Its counter closed flat at S$2.85 on Tuesday. Far East Hospitality Trust (FEHT): The hospitality stapled group’s manager on Wednesday reported a distribution per stapled security of S$0.0217 for the second half ended December 2023, up 25.4 per cent from S$0.0173 in in H2 FY2022. Gross revenue rose 28.6 per cent year on year to S$54.8 million, while distribution to stapled security holders increased 26.3 per cent due to higher net property income and the distribution of other gains. Stapled securities of FEHT closed S$0.005 or 0.8 per cent higher at S$0.64 on Tuesday.

Centurion : The property player expects to report a “substantial increase” in its net profit for the financial year ended Dec 31, 2023, compared to the previous year. On Tuesday, the group attributed the rise in profit to net fair value gains on investment properties that are expected to be recognised in FY2023. Its final set of results are set to be released on Feb 28, after trading hours. Shares of Centurion gained 2.6 per cent or S$0.01 to close at S$0.40, before the announcement.