Stocks to watch: Mapletree Logistics Trust, Sabana Reit, Q&M Dental, Del Monte Pacific
THE following companies saw new developments that may affect trading of their securities on Wednesday (Sep 11):
Mapletree Logistics Trust : Its manager on Tuesday announced its proposal to divest three warehouse properties in Malaysia for RM157.5 million (S$47.7 million). The proposed divestments are expected to be completed by FY2025. Units of Mapletree Logistics Trust closed 0.7 per cent or S$0.01 higher at S$1.43, before the news.
Sabana Industrial Real Estate Investment Trust (Sabana Reit): The Reit’s manager said on Tuesday that it had secured its first tenant to occupy the newly completed Sabana@1TA4 building, which is at 1 Tuas Avenue 4. Rental contribution from the new tenant is expected from the first quarter of 2025. Units of Sabana Reit closed flat at S$0.35 before the news.
Q&M Dental : The dental group on Wednesday announced that it is planning to acquire Veritas Dental, a dental clinic business in Bukit Timah, for S$800,000. Q&M said the proposed acquisition, which will be done directly or through one of its wholly owned subsidiaries, is in line with the company’s plan of expanding its main dental business in Singapore. Shares of Q&M closed 1.8 per cent or S$0.005 higher at S$0.28 on Tuesday.
Del Monte Pacific : The Philippine food and beverage maker sank deeper into the red in the first quarter ended Jul 31 with a net loss of US$34.2 million, widening from a loss of US$13.1 million in the year-ago period. On Tuesday, the company attributed the performance to unfavourable results from its US subsidiary Del Monte Foods and interest expenses. The counter closed 1.1 per cent or S$0.001 lower at S$0.088, before the results were announced.
Trading halt: Dyna-Mac requested a trading halt on Wednesday morning pending the release of an announcement. Shares of the offshore oil and gas contractor closed Tuesday 2 per cent or S$0.01 lower at S$0.495.
