Stocks to watch: Great Eastern, CapitaLand Ascendas Reit, MPACT, ESR-Logos Reit, Aims Apac Reit
THE following companies saw new developments that may affect trading of their securities on Wednesday (Jul 31):
Great Eastern : The insurer on Wednesday posted a 45 per cent year-on-year increase in net profit to S$280.4 million for the second quarter ended Jun 30, from S$193.2 million. On a half-yearly basis, net profit increased 34 per cent to S$587.1 million, from S$437.2 million. Trading in Great Eastern shares has been suspended at S$25.80 since Jul 15.
CapitaLand Ascendas Reit (Clar): The industrial property player’s distribution per unit (DPU) fell 2.5 per cent for the half-year ended June to S$0.07524. This comes amid an enlarged unit base and higher finance costs. The lower DPU was despite H1 revenue rising 7.2 per cent year on year to S$770.1 million, while net property income rose 3.9 per cent to S$528.4 million. Clar units closed on Tuesday at S$2.68, up 0.4 per cent or S$0.01.
Mapletree Pan Asia Commercial Trust (MPACT): The real estate investment trust (Reit) posted a DPU of S$0.0209 for the first quarter ended Jun 30, down 4.1 per cent from the same period a year earlier. The decrease comes amid increased financial costs in the current high interest rate environment. Units of the Reit closed flat at S$1.29 on Tuesday before the announcement.
ESR-Logos Reit : It posted an 18.6 per cent decline in DPU to S$0.01122 for the first half ended June, from S$0.01378 in the previous corresponding period. On Wednesday, its manager attributed this to the divestment of non-core assets, lower distribution capital gains, and an enlarged unit base due to the equity fundraising done last year. The counter closed flat at S$0.275 on Tuesday.
Aims Apac Reit : The manager of the Reit on Wednesday posted a 1.7 per cent lower DPU of S$0.0227 for the first quarter of FY2025, from S$0.0231 in the corresponding period a year earlier. First-quarter gross revenue rose 9.7 per cent to S$47.3 million. Units of the Reit ended flat at S$1.30 on Tuesday.
Aztech Global : The Internet of Things devices and data communications product manufacturer posted an 8.7 per cent increase in net profit to S$46.7 million for its first half ended Jun 30, 2024, from S$42.9 million in the previous year. Revenue for H1 fell 4 per cent to S$373.2 million from S$388.6 million. Shares of Aztech Global closed S$0.01 or 1 per cent higher at S$1.02 on Tuesday, before the announcement.
Pan-United : The company posted a net profit of S$18.6 million for the first half of the year, 34 per cent more than the S$13.9 million in the corresponding year-ago period. Revenue for H1 rose 7 per cent to S$384.7 million, from S$360.2 million. Pan-United shares closed 2.8 per cent or S$0.015 lower at S$0.515 on Tuesday, before the announcement.
Keppel Pacific Oak US Reit (Kore): The Reit on Wednesday reported a distributable income of US$11.9 million for the second quarter ended Jun 30, sliding 8.8 per cent on the year from US$13.1 million. No distribution was declared. Units of Kore was up 3.6 per cent or US$0.007 at US$0.20 at Tuesday’s close.
