Stocks to watch: MPACT, MLT, Keppel Reit, Clint, CLCT, CDLHT, OUE Reit

THE following companies saw new developments that may affect trading of their securities on Tuesday (Jan 30): Mapletree Pan Asia Commercial Trust (MPACT): The trust’s distribution per unit (DPU) fell 9.1 per cent to S$0.022 for its third quarter ended Dec 31, 2023. Gross revenue was up 0.8 per cent to S$241.6 million for the quarter, from S$239.8 million previously, said the manager on Monday. Units of MPACT closed 1.4 per cent or S$0.02 lower at S$1.39, before the announcement.

Mapletree Logistics Trust (MLT): The trust entered into a purchase agreement with an unrelated third party to divest its 73 Tuas South Avenue 1 property for S$16.8 million, its manager announced on Monday. JTC granted in-principle approval for the transaction subject to compliance to stipulated conditions by the parties. Units of MLT closed down 1.9 per cent or S$0.03 to S$1.53, before the news.

Keppel Real Estate Investment Trust (Reit): The Reit’s DPU fell 1.7 per cent to S$0.029 for the second half year of FY2023. This came on the back of a 0.7 per cent drop in distributable income from operations to S$99.7 million. Net property income for the period, however, rose 7 per cent on higher rentals and occupancy for its Singapore properties, said its manager on Tuesday. Keppel Reit’s units closed Monday 2.2 per cent or S$0.02 lower at S$0.895.

CapitaLand India Trust (Clint): The trust’s DPU for FY2023 fell 21 per cent to S$0.0645 from S$0.0819 a year earlier. DPU for the second half of FY2023 also fell 21 per cent to S$0.0309 from S$0.0391 the year before, said its trustee-manager on Monday. Units of Clint closed 0.9 per cent or S$0.01 lower at S$1.06, before the news.

CapitaLand China Trust (CLCT): It posted a 11.8 per cent decline in DPU to S$0.03 for the second half ended Dec 31, 2023, on a slightly enlarged unit base. In H2 2022, the manager released S$3.6 million in distributable income to unitholders, previously retained in H1 2022. If this was not released, DPU would have fallen 5.6 per cent instead of 11.8 per cent, the manager said on Tuesday. CLCT’s units closed 0.6 per cent or S$0.005 higher at S$0.825 on Monday.

CDL Hospitality Trusts (CDLHT): The stapled group’s total distribution per stapled security for the second half of the year ended Dec 31, 2023, was down 11.1 per cent to S$0.0319 from S$0.0359. On Tuesday, its managers said this was mainly due to higher funding costs for loans, as well as interest expenses incurred on additional amounts drawn to finance asset enhancement works. Stapled securities of CDLHT ended Monday 1.9 per cent or S$0.02 higher at S$1.05.

OUE Reit : The Reit’s DPU stayed flat year on year at S$0.0104 for its second half ended Dec 31, 2023. This was despite its revenue rising 16.4 per cent to S$146.3 million, from S$125.7 million previously. On Monday, the manager attributed the higher revenue to strong operational performance of its Singapore portfolio, driven by the full-room inventory of Hilton Singapore Orchard. Units of OUE Reit ended flat at S$0.28, before the announcement.