Stocks to watch: Keppel Reit, Seatrium, FCT, CAO, Aspial Lifestyle, CICT

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Apr 21):

Keppel Reit : The real estate investment trust (Reit) on Tuesday said distributable income from operations for the first quarter rose 19.7 per cent from S$48.4 million to S$57.9 million in the year-ago period. Including a S$5 million anniversary distribution, it rose 17.8 per cent year on year to S$62.9 million, from S$53.4 million. No distribution was declared for the quarter as it is paid out on a half-yearly basis. Units of Keppel Reit closed flat at S$0.92 on Monday.

Seatrium : The marine engineering company on Monday said it priced S$400 million in fixed-rate notes due Apr 28, 2031, at 2.95 per cent per annum. The notes, issued by wholly owned subsidiary Seatrium Financial Services, are part of its S$3 billion multicurrency debt-issuance programme. Net proceeds from the issue will be used to refinance existing borrowings, fund potential acquisitions and investment opportunities, as well as for working capital and capital-expenditure requirements. Shares of Seatrium ended Monday 2.9 per cent or S$0.07 lower at S$2.35, before the filing.

Frasers Centrepoint Trust (FCT) : The trust is in the process of divesting its White Sands shopping mall in Pasir Ris, with local private equity firm TE Capital reportedly in exclusive due diligence for the deal. The suburban retail property has a balance leasehold tenure of around 66 years. BT understands that it could fetch more than S$470 million, implying a roughly 4.5 per cent exit yield. Units of FCT closed Monday 0.4 per cent or S$0.01 lower at S$2.28, before the news.

China Aviation Oil (CAO) : The jet fuel supplier reiterated on Monday that it does not expect the merger between its parent, China National Aviation Fuel, and Sinopec to have material impact on its normal business operations or those of its subsidiaries. This was in response to shareholder queries ahead of its annual general meeting scheduled for Thursday. The company said that parties involved in the merger are carrying out necessary approval and filing procedures. CAO shares closed Monday 1.4 per cent or S$0.03 down at S$2.08, before the news.

Aspial Lifestyle : The consumer lifestyle group on Monday priced S$28 million in fixed-rate notes due Oct 29, 2029, at 5.1 per cent per annum. The notes are part of the company’s S$300 million multicurrency medium-term note programme and will be issued on Apr 29 in denominations of S$250,000 each. Net proceeds will be used for general corporate purposes, including refinancing existing borrowings, working capital and capital expenditure. Shares of Aspial Lifestyle ended Monday 5.1 per cent or S$0.02 higher at S$0.41, before the announcement.

CapitaLand Integrated Commercial Trust (CICT) : The trust asked to lift the trading halt that it had asked to put in place on Monday. This followed the announcement of the sale of its entire interest in Asia Square Tower 2 to IOI Properties for S$2.5 billion and the purchase of Paragon mall for S$3.9 billion. The trust also announced on Tuesday that its private placement to partially fund the purchase has been upsized from S$600 million to S$750 million, after strong demand. Units of CICT ended flat at S$2.39 on Friday, before a trading halt was called on Monday morning.