Stocks to watch: SGX, FEHT, Wing Tai, PropNex, First Reit, QAF, Cordlife
THE following companies saw new developments that may affect trading of their securities on Wednesday (Feb 12).
Singapore Exchange (SGX) : The total securities market turnover value on the SGX increased 1 per cent year on year to S$20.8 billion in January, with the Straits Times Index hitting a 17-year high and exchange-traded funds’ assets under management rising to a record level. January’s total market turnover volume fell 31 per cent to 19.1 billion shares. Shares of SGX rose 0.7 per cent or S$0.09 to S$13.79 on Tuesday, before the news.
Far East Hospitality Trust (FEHT) : Its manager on Wednesday posted a distribution per stapled security of S$0.0208 for the second half ended December, down 4.1 per cent from S$0.0217 in the previous corresponding period. Distribution to stapled securityholders fell 3.6 per cent on the year to S$41.9 million, mainly due to higher finance costs and change in the proportion of the manager’s fee. Stapled securities of FEHT ended Tuesday 0.8 per cent or S$0.005 higher at S$0.605.
Wing Tai Holdings : The property and retail company’s net profit continued its decline in the first half of its 2025 fiscal year due to lower contributions from its property assets, after selling one of its condominium projects. The company also incurred higher sales and finance costs for the six-month period ended Dec 31, 2024. Shares of Wing Tai declined 0.8 per cent or S$0.01 to close at S$1.21 on Tuesday, before the announcement.
PropNex : The real estate services group said that its wholly owned subsidiary PropNex Realty, has been named as one of three co-defendants in a lawsuit. The suit was filed by a claimant seeking damages from PropNex Realty for liability arising from the alleged misconduct of one of its salespersons and his purported advice. The group said that it has evaluated the basis and merits of the suit and intends to defend it. Shares of PropNex closed at S$1.12, down 0.9 per cent or S$0.01, before the news.
First Real Estate Investment Trust (Reit) : The healthcare Reit posted a distribution per unit (DPU) of S$0.0116 for the second half of its 2024 fiscal year – a 6.5 per cent decrease from S$0.0124 in the same period in the previous year. Including the DPU of S$0.012 for the first half of the financial year, this brings the Reit’s 2024 full-year DPU to S$0.0236, a 4.8 per cent decrease from the previous year. Units of First Reit closed flat at S$0.275 on Tuesday, before the news.
QAF : The food manufacturer and distributor expects an improvement in profit for the financial year ended Dec 31, 2024. It said that it expects to report improved profit attributable to owners of the company for FY2024 compared to the previous financial year, attributed to better business performance and lower non-cash impairment of its investment in its joint venture. Shares of QAF closed at S$0.845 on Tuesday, down 0.6 per cent or S$0.005, before the announcement.
Cordlife : The private cord-blood bank announced that its chief executive officer Yiu Pang Fai has tendered his resignation with his date of cessation being Feb 28. The company’s board of directors has accepted his resignation. The group said on Wednesday that it has begun searching for Yiu’s replacement. Shares of Cordlife closed 1.2 per cent or S$0.002 lower at S$0.159 on Tuesday, before the news.
