Stocks to watch: Frasers Hospitality Trust, Elite Commercial Reit, Rex International

THE following companies saw new developments that may affect trading of their securities on Tuesday (Nov 7):

Frasers Hospitality Trust : It posted a distribution per stapled security of S$0.011777 for the second half ended Sep 30, up 26.4 per cent year on year. This came as gross revenue and net property income grew, supported by a continued recovery in global tourism and the growing event and Mice (meetings, incentives, conferences and exhibitions) segment, the managers said on Tuesday. The counter closed 1.9 per cent or S$0.01 higher at S$0.53 on Monday.

Elite Commercial Reit : The Singapore-listed UK real estate investment trust on Tuesday posted a 20.4 per cent year-on-year increase in net property income to £32.5 million (S$54.2 million) for the nine months ended Sep 30. The amount generated for distribution to unitholders, however, fell by 25.1 per cent to £13.6 million on higher financing costs. Its available distribution per unit for the three quarters stood at 2.82 pence before retention. The counter closed down 6.1 per cent, or £0.015, to £0.23 on Monday.

Rex International : The oil exploration and production company’s 91.65 per cent subsidiary Lime Petroleum will acquire a 17 per cent interest from two vendors in PL740 in the Norwegian North Sea, where it expects the Brasse Field to commence commercial production in 2027. Shares of Rex closed flat at S$0.173 on Monday, before the announcement.