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.