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Stocks to watch: SPH Reit, First Sponsor, Metro, MoneyMax, a-iTrust, Eneco Energy
THE following companies saw new developments that may affect trading of their securities on Thursday:
SPH Reit: The Reit manager on Wednesday told unitholders at the annual general meeting that it sees future enhancement opportunities in the freehold Westfield Marion Shopping Centre in Adelaide. This was in response to queries over its strategy for the Adelaide shopping centre, as well as the rationale behind a private placement to partially fund the acquisition. Dr Leong Horn Kee, chairman of the Reit manager, said that the Reit is taking a longer term view of the asset. SPH Reit units closed at S$1.09 on Wednesday, up one Singapore cent or 0.9 per cent.
First Sponsor: The property developer has sold the entire share capital in a wholly-owned subsidiary, which has a perpetual leasehold interest in a land parcel in the Netherlands, to a 33 per cent-owned associate firm, FSMC NL Property Group. As a result, the subsidiary, FS NL Zuidoost Property 15 BV, has become an indirect 33 per cent-owned associate company of First Sponsor, it said on Thursday. Shares of First Sponsor closed flat at S$1.30 on Wednesday.
Metro Holdings: The property investment and retail group is launching its Metro LazMall store on e-commerce platform Lazada Singapore on Nov 29, the day on which the shopping event Black Friday falls. The group said it aims to deliver greater value to customers by diversifying shopping formats in the e-commerce space through the move. LazMall is a virtual marketplace on Lazada that houses authentic and trusted brands from around the globe. Metro shares closed 0.5 per cent or 0.5 cent lower at S$0.935 on Wednesday.
MoneyMax: The group's unit MoneyMax Credit has been granted options to acquire two shop spaces at Lucky Plaza, Orchard Road. The first shop has a built-in area of 47 square metres (sq m) and is going for S$8.5 million. The second shop has a 74 sq m built-in area and a purchase consideration of S$9.5 million. Completion of the acquisition of the freehold properties is expected to be on Feb 26, 2020. MoneyMax units closed at S$0.155 on Wednesday, up 0.5 Singapore cent or 3.3 per cent.
Ascendas India Trust (a-iTrust): Some 99.5 million new units in a-iTrust from a private placement will start trading on the Singapore Exchange at 9am on Nov 28, the trustee-manager said on Thursday morning. The placement was 4.1 times subscribed and the number of new units issued was increased to 99.5 million, from a minimum of 66.3 million. The issue price was fixed at S$1.508 per new unit, the top end of a S$1.465 to S$1.508 range. a-iTrust units closed down S$0.01 or 0.6 per cent to S$1.56 on Wednesday.
Eneco Energy: The group's unit RichLand Logistics Services has secured a two-year logistics contract with Schneider Electric Singapore, where it will deliver Schneider Electric's finished goods and components to their customers in Singapore. To support the new contract, RichLand has tailored its in-house app-based system to provide Schneider Electric with real-time, activity-based data on every transaction. Customers will also have access to real-time tracking information. The counter closed flat at S$0.034 on Wednesday.
Trading halts: The managers of Frasers Commercial Trust and Frasers Logistics & Industrial Trust have called for trading halts pending the release of separate announcements. Frasers Commercial Trust units closed at S$1.67 on Wednesday, up two Singapore cents or 1.2 per cent. Meanwhile, Frasers Logistics & Industrial Trust closed flat at S$1.24.