Stocks to watch: Dyna-Mac, Manulife US Reit, LMIRT

THE following companies saw new developments that may affect trading of their securities on Friday (Jan 5):

Dyna-Mac : The offshore oil-and-gas contractor has proposed a bonus issue of up to 207.4 million warrants on the basis of one warrant for every five existing shares to raise up to S$31.1 million. Each bonus warrant would give the warrant holder the right to subscribe for one new share at an exercise price of S$0.15. The counter closed on Thursday, down 1.5 per cent or S$0.005 at S$0.32.

Manulife US Real Estate Investment Trust (Manulife US Reit): The Reit’s portfolio real estate valuation fell by 8 per cent or US$123.1 million to US$1.4 billion as at end-December 2023, versus US$1.5 billion at the end of the first half-year period. Its manager on Friday said it also expects the Reit to report a loss for FY2023 due to fair-value losses arising from the valuation decline. Units of Manulife US Reit closed US$0.002 or 2.5 per cent lower at US$0.078 on Thursday.

Lippo Malls Indonesia Retail Trust (LMIRT): Its manager said on Thursday that the trust’s aggregate leverage ratio as at Dec 31, 2023 is likely to have risen to 44.3 per cent. The increase is led primarily by the valuation decline of LMIRT’s investment properties, despite the trust’s debt obligations falling to around S$19.5 million. Units of LMIRT closed 12.5 per cent lower or S$0.002 at S$0.014, before the announcement.