Stocks to watch: FLCT, Oxley, Keppel Pacific Oak US Reit, Quantum Healthcare

THE following companies saw new developments that may affect trading of their securities on Thursday (Feb 2):

Frasers Logistics & Commercial Trust (FLCT): It recorded over 239,500 square metres of leasing across its portfolio for its first quarter ended Dec 31, 2022. Overall occupancy came in at 95.9 per cent. In particular, its logistics and industrial portfolio had 100 per cent occupancy, while its commercial portfolio recorded an 89.8 per cent occupancy. Units of FLCT rose 3.2 per cent or S$0.04 to close at S$1.30 on Wednesday.

Oxley : The property developer on Wednesday reported a sharp decline in net profit for its first half, which fell to S$277,000 from S$23.5 million in the corresponding period a year ago. This came on the back of lower revenue and higher finance costs. Shares of Oxley closed flat at S$0.145 on Wednesday.

Keppel Pacific Oak US Reit (Kore): It posted a distribution per unit (DPU) of US$0.0278 for the second half ended Dec 31, 2022, down 12.6 per cent from US$0.0318 a year earlier. The chief executive of the Reit manager, David Snyder, said on Wednesday that large-scale layoffs amid the tech sector slowdown are not a major concern for its portfolio. Units of Kore closed 1.9 per cent higher or US$0.01 at US$0.545 on Wednesday. 

Quantum Healthcare : The healthcare company is now buying only three out of the six dental clinics it originally intended to acquire from New Silkroutes Group, for a reduced consideration of some S$1.7 million instead of S$4.5 million. In its update on Wednesday, Quantum cited existing market conditions, the clinics’ financial performance, and their locations as reasons for its decision to scale back the acquisition. The group ended Tuesday flat at S$0.006. Trading in the shares of New Silkroutes Group is suspended.