Stocks to watch: MLT, Suntec Reit, GuocoLand, SingPost, Dasin Retail Trust, Sim Leisure

THE following companies saw new developments that may affect trading of their securities on Friday (Jan 20):

Mapletree Logistics Trust (MLT) : Accretive acquisitions lifted the distribution per unit (DPU) of the trust by 1.9 per cent to S$0.02227 for the third quarter ended December, the manager said on Thursday. Gross revenue for the quarter was up 8 per cent to S$180.2 million, thanks to acquisitions completed in Q1 and the prior year. MLT units closed flat at S$1.61, before the announcement. 

Suntec Real Estate Investment Trust (Reit) : The Reit’s DPU dropped by 9.7 per cent to S$0.04074 for the second half of 2022 ended December, from S$0.04512 a year ago, the manager said on Friday. Higher interest expense for the period resulted in a 27.8 per cent rise in finance costs for the Reit. Units of Suntec Reit closed flat at S$1.37 on Thursday.

GuocoLand : The property player reported on Thursday a 13 per cent fall in net profit to S$59 million for the first half ended December, in the absence of a S$14.3 million disposal gain recorded the year prior. Excluding the disposal gain, the company saw its net profit rise 11 per cent, from S$53.2 million to S$59 million, on the back of a strong property market and a revival in tourism. This lifted revenue by 46 per cent in H1 to S$661.6 million. The counter closed at S$1.62 on Thursday before the announcement, up 0.6 per cent or S$0.01.

Singapore Post (SingPost) : The company, through its wholly-owned unit Quantium Solutions International (QSI), will have its equity interests in Shenzhen 4PX Information and Technology reduced to 17.61 per cent from 19.75 per cent. This follows a loan capitalisation exercise connected to the repayment of a loan extended by Alibaba-owned Zhejiang Cainiao Supply Chain Management. SingPost ended Thursday 4.6 per cent or S$0.025 higher at S$0.565, before the announcement.

Dasin Retail Trust : Its trustee-manager received a letter of demand from lender Luso International Banking, related to a seven-month US$13.12 million loan facility. This came after the trust failed to top up its reserve account with Luso Bank within five working days from the effective date of the facility due to technical issues. Dasin Retail Trust units closed flat at S$0.245 on Thursday, before the announcement.

Sim Leisure : The theme park operator said it will register “substantial” comprehensive profit for FY2022 ended December, reversing the year-ago loss. The turnaround is due to an increase in the company’s revenue derived from theme park operations, following the easing of pandemic restrictions by the Malaysian government. Sim Leisure shares closed flat at S$0.255 on Thursday, before the announcement.

Chip Eng Seng : The closing date for the mandatory cash offer priced at S$0.75 per share of the property player has been extended from Jan 19 to Feb 2. The offeror disclosed that together with its concert parties, it owns or is set to own 685.2 million shares, translating to about 87.26 per cent of the company, it said. Chip Eng Seng ended flat at that S$0.75, before the announcement.