Stocks to watch: ST Engineering, UOI, Suntec Reit, OUE Reit, mm2 Asia

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Oct 24):

ST Engineering : The defence and engineering group announced on Thursday that it secured S$4.9 billion in new contracts in the third quarter of 2025. The sum comprises S$1.4 billion from the commercial aerospace segment, S$2.4 billion from the defence and public security arm, and S$1.1 billion from the urban solutions and satcom segment. For the nine months ended Sep 30, ST Engineering’s total contract wins amounted to S$14 billion. Shares in ST Engineering ended 0.5 per cent or S$0.04 higher at S$8.48, before the announcement.

United Overseas Insurance (UOI) : The general insurance arm of UOB reported a 34.9 per cent increase in total comprehensive income to S$40.6 million for the nine months ended Sep 30, from S$30.1 million in the year-ago period. Insurance revenue for the period rose 7.9 per cent to S$85.7 million, compared with S$79.4 million previously. Non-underwriting income climbed 33 per cent to S$13.7 million, from S$10.3 million in the same period last year. Shares of UOI closed 1 per cent or S$0.08 higher at S$7.78 before the news.

Suntec Real Estate Investment Trust (Reit) : The manager of the Reit on Thursday posted a distribution per unit (DPU) of S$0.01778 for its third quarter ended Sep 30, up from S$0.0158 for the previous corresponding year. Distributable income was also 13.4 per cent higher at S$52.4 million for Q3, compared with S$46.2 million for the year-ago period. The higher DPU and distributable income were led by stronger operational performance of the Reit’s Singapore portfolio and lower financing costs. The counter closed on Thursday flat at S$1.36, before the results were released.

OUE Reit : The manager of the Reit on Thursday posted a 5.6 per cent drop in net property income (NPI) to S$57 million for the third quarter ended Sep 30, from S$60.3 million a year earlier. Revenue also fell 5.8 per cent to S$70.5 million, from S$74.8 million previously. Both declines were mainly due to the divestment of Lippo Plaza Shanghai in December 2024. This was partly offset by a 19.7 per cent fall in finance costs to S$21.6 million, as interest rates eased. Units of OUE Reit closed unchanged at S$0.345 on Thursday, before the announcement.

Sabana Reit : The internalisation of the manager of Sabana Industrial Reit has been completed, announced trustee HSBC Institutional Trust Services on Thursday. Alpha Integrated Reit Management has been appointed as the trust’s new manager, replacing Sabana Real Estate Investment Management. The Reit has also been renamed as Alpha Integrated Reit, and its trust deed will be amended to reflect the new internalised management structure. Units of Sabana Industrial Reit ended Thursday 5.8 per cent or S$0.025 higher at S$0.455, before the news.

mm2 Asia : The media entertainment group has received two letters of demand from Standard Chartered, seeking repayment of S$905,582.87 by Thursday. The letters, dated Oct 16, were addressed to mm Connect and Cathay Cineplexes, for which mm2 Asia acted as guarantor. Earlier in August, mm2 said it had received eight letters of demand totalling S$17.6 million, but maintained then that it could continue as a going concern. By September, Cathay Cineplexes has ceased operations after entering voluntary liquidation. Shares of mm2 Asia closed unchanged at S$0.003 on Thursday, before the announcement.