Stocks to watch: Frasers Property, KIT, Clint, Hiap Hoe, Pan-United, Keppel, Dasin Retail Trust 

THE following companies saw new developments that may affect trading of their securities on Monday (Feb 5):

Frasers Property : The property developer said in a business update on Friday that it has achieved pre-sold revenue of S$2.4 billion as at Dec 31, 2023, with “steady progress” in its residential development portfolio. Its net gearing ratio increased to 78 per cent in Q1 FY2024 as at Dec 31, 2023, up 2.2 percentage points end-September. The counter closed 1.2 per cent or S$0.01 higher at S$0.875 on Friday, before the business update.

Keppel Infrastructure Trust (KIT): The trust will be acquiring a stake of about 98.6 per cent in Ventura Motors, the largest bus service business in the State of Victoria in Australia, for an enterprise value of A$600 million (S$540 million). Its manager said on Monday that the proposed acquisition is expected to drive cash flow generation to support KIT’s overall distribution per unit (DPU) accretion of 3.4 per cent based on the FY2023 DPU. Its counter closed Friday flat at S$0.51.