Stocks to watch: Frasers Centrepoint Trust, AEM, IReit Global

THE following companies saw new developments that may affect trading of their securities on Tuesday (Jan 23): Frasers Centrepoint Trust (FCT): The committed occupancy of the trust’s retail portfolio was 99.9 per cent for the first quarter ended Dec 31, 2023. This came on the back of stronger shopper traffic and improved tenant sales. The trust’s retail occupancy improved 1.5 per cent year on year, and increased 0.2 per cent compared with the previous quarter. Prior to the announcement, units of FCT ended Monday up 1.8 per cent or S$0.04 at S$2.24. AEM : The semiconductor equipment maker will adjust its inventory value and profit before tax in its Q4 results, after finding a shortfall in the group’s inventories following an internal stocktaking exercise. Excess inventory and profits are estimated to be between S$18 million and S$25 million, said AEM on Monday. The counter closed 1.7 per cent or S$0.05 lower at S$2.85, before the announcement. IReit Global : The real estate investment trust’s portfolio valuation fell by 2.6 per cent to 899 million euros (S$1.3 billion) as at end-2023, from 922.7 million euros at the end of the prior half-year period. Its gearing, at about 37.4 per cent, was higher than the 34.4 per cent at the end of Q3. Units of IReit ended Monday down 1.2 per cent or S$0.005 at S$0.40, before the announcement. Trading halt: 3Cnergy called for a trading halt on Tuesday morning before the market opened, pending the release of announcements. The counter last closed 3.3 per cent or S$0.006 higher at S$0.19.