Stocks to watch: Mapletree Logistics Trust, CapitaLand Ascott Trust, Keppel Infrastructure Trust, Parkway Life Reit

THE following companies saw new developments that may affect trading of their securities on Wednesday (Oct 23):

Mapletree Logistics Trust (MLT) : The logistics real estate investment clocked a 10.6 per cent fall in distribution per unit to S$0.02027 on higher borrowing and lower China revenue from the second quarter ended Sep 30. For Q2 FY25, its net property income fell by 2.1 per cent to S$158.6 million from S$162 million during the same period last year, and distributable income fell 9.1 per cent to S$102.3 million from S$112.5 million. Its borrowing costs rose 8.2 per cent to S$39.8 million from S$36.8 million last year. MLT units closed 0.7 per cent or S$0.01 lower at S$1.41 on Tuesday before the announcement. 

CapitaLand Ascott Trust (Clas) : The stapled group agreed to divest its property in Tianjin, China, in order to enhance returns to its stapled securityholders by recycling capital and reconstituting its portfolio, its managers said on Tuesday. The Somerset Olympic Tower Tianjin will be sold to an unrelated third party for an undisclosed price. The divestment is expected to minimally impact the stapled group’s gross profit said the chief executive officer of Clas’ managers Serena Teo. Clas stapled securities closed 1.1 per cent or S$0.01 lower at S$0.94 on Tuesday, before the announcement.