Stocks to watch: Frasers Logistics & Commercial Trust, ARA US Hospitality Trust, Lian Beng

THE following companies saw new developments that may affect trading of their securities on Thursday (May 4):

Frasers Logistics & Commercial Trust (FLCT): Its manager on Thursday announced a distribution per unit of S$0.0352 for the first half of FY2023, representing an 8.6 per cent year-on-year decline. Its net property income fell 14 per cent on the year to S$157.9 million. This was attributed mainly to foreign exchange weakness, the divestment of Cross Street Exchange in Singapore, and the absence of an early surrender fee from Farnborough Business Park in the UK. Units of FLCT ended flat at S$1.33 on Wednesday.

ARA US Hospitality Trust (ARA H-Trust): The trust on Thursday posted net property income of US$6.4 million for its first quarter ended Mar 31, up 19 per cent from US$5.3 million for the same period the year before. Its gross revenue rose 10.2 per cent to US$36.2 million for the fiscal quarter. The increase comes as travel demand remains strong in the US. Stapled securities of ARA H-Trust closed flat at US$0.355 on Wednesday.