Stocks to watch: Sabana Reit, RE&S

THE following companies saw new developments that may affect trading of their securities on Thursday (Aug 24):

Sabana Industrial Real Estate Investment Trust (Sabana Reit): In an open letter on Wednesday, activist investor Quarz Capital declared that the trustee of Sabana Reit should take no more than three to four months to do the preparatory work required to set up a new internal Reit manager. Quarz urged the trustee, HSBC Institutional Trust Services, to set a clear target to complete the setup and licensing of the internal manager by the Reit’s April 2024 annual general meeting. Units of Sabana Reit closed flat at S$0.385 after the release of the letter.

RE&S : The food and beverage (F&B) owner and operator announced on Wednesday a 65.3 per cent fall in net profit for the second half year ended Jun 30, to S$2.1 million from S$6 million in the same period last year. The decline was attributed to the challenging environment in the F&B sector, inflationary pressures and manpower shortages. Shares in RE&S ended Wednesday flat at S$0.295 before the news.