Stocks to watch: Frasers Centrepoint Trust, CapitaLand Ascott Trust, Far East Orchard, Boustead Singapore

THE following companies saw new developments that may affect trading of their securities on Monday (Jan 29):

Frasers Centrepoint Trust (FCT): The trust’s private placement to raise S$200 million closed on Friday at an issue price of S$2.18 per new unit. The manager said the placement was 2.5 times covered with “strong participation” from new and existing investors. Shares of FCT closed 2.6 per cent or S$0.06 lower at S$2.22 after the announcement. CapitaLand Ascott Trust (Clas): Its distribution per stapled security rose 14.1 per cent to S$0.038 for the second half year ended Dec 31, 2023, from S$0.0333 in the same period a year ago. The manager attributed the growth mainly to stronger performance and contributions from new properties, it said in its results released on Monday. Clas’ stapled securities finished Friday 0.5 per cent or S$0.005 lower at S$0.93.  Far East Orchard : The private property developer announced in a profit guidance on Friday that it expects to report a higher profit after tax for its financial year ending Dec 31, 2023, compared with FY2022. The expected higher profit after tax is mainly attributed to fair value gains on investment properties, it said. Shares of Far East Orchard ended at S$1, down 1 per cent or S$0.01, before the news.

Boustead Singapore : The engineering services group failed to cross the 90 per cent threshold of valid acceptances to exercise its right of compulsory acquisition. At the close of the offer, Boustead Singapore received valid acceptances for about 89.36 per cent of the non-controlled shares. Boustead Projects will be delisted following the completion of the offer, with the date of delisting to be provided in due course. Shares of Boustead Singapore closed flat at S$0.865 on Friday, before the news.