Stocks to watch: SingPost, Manulife US Reit

THE following companies saw new developments that may affect trading of their securities on Tuesday (Mar 19): 

Singapore Post (SingPost) : The national postal service provider on Tuesday announced the completion of its strategic review which was initiated in May 2023. The group said it will reorganise its corporate structure into three business units, among the new plans that its board has approved to be executed over the next three years. It will also endeavour to pay out 30 to 50 per cent of underlying net profit from FY2024 to FY2025. Shares of SingPost closed flat on Monday at S$0.38.

Manulife US Real Estate Investment Trust (Reit) : Its manager on Tuesday said its chief executive officer, deputy CEO, chief financial officer (CFO) and chief investment officer (CIO) will step down from their positions on Jun 30, 2024. John Anthony Casasante will replace Tripp Gantt and Patrick Arthur Browne as CEO and CIO, respectively. Meanwhile, Mushtaque Muhammad Ali will take over as CFO from Robert Wong. Units of Manulife US Reit closed 5 per cent or US$0.003 lower at US$0.057 on Monday.