Stocks to watch: NetLink NBN Trust, Isetan, Manulife US Reit, mm2 Asia, Dasin Retail Trust

THE following companies saw new developments that may affect trading of their securities on Monday (Aug 5):

NetLink NBN Trust : The fibre-optic owner posted a 9.1 per cent decline in its profit after tax to S$25.7 million for the first quarter ended Jun 30, from S$28.2 million in the same period last year. On Friday, NetLink’s trustee-manager said this was mainly due to lower earnings before taxes, interest, depreciation and amortisation, as well as higher depreciation from a higher asset base. NetLink NBN Trust units ended Friday flat at S$0.85.

Isetan Singapore : The Japanese retailer recorded a narrower net loss of S$126,000 for the first half-year ended June, from a loss of S$681,000 in the same period last year, it announced on Friday. However, revenue fell 8.9 per cent to S$37.4 million, due to lower sales of goods and consignment income from the retail segment. Isetan Singapore last traded unchanged at S$7.08 on Friday.

Manulife US Real Estate Investment Trust (Manulife US Reit): The pure-play US office Reit’s adjusted distributable income per unit for the first half ended Jun 30 declined 27.5 per cent year on year to US$0.0129, reported its manager on Monday. Revenue and net property income for the period declined both overall and on a same-store basis, amid higher vacancies and property operating expenses. Units of Manulife US Reit closed US$0.001 or 1.3 per cent down at US$0.078 on Friday.

mm2 Asia : The entertainment company has proposed to raise up to S$30 million through a placement of new shares at S$0.017 per share, with an option to issue an additional S$10 million of placement shares at the same issue price. On Friday, the company said proceeds will be used to strengthen mm2’s financial position and support working capital requirements. The counter closed 11.8 per cent or S$0.002 lower at S$0.015, before the announcement.

Dasin Retail Trust : Its trustee-manager on Saturday said it has been accused by a group of requisitionists of not convening an extraordinary general meeting (EGM) within the timelines, thus breaching the Business Trusts Act. The group of requisitionists said they will proceed to hold the EGM themselves and the cost will be claimed from the trustee-manager. The counter closed 13.6 per cent or S$0.003 higher at S$0.025 on Friday.

Trading halt: Mainboard-listed Karin Technology requested a trading halt on Monday morning, pending the release of an announcement. The counter ended Friday 4.6 per cent or S$0.015 lower at S$0.315.