The Business Times

Stocks to watch: AA Reit, Ascendas Reit, OUE, StarHub, OUE C-Reit, First Reit

Michelle Zhu
Published Wed, May 5, 2021 · 08:44 AM

THE following companies saw new developments that may affect trading of their securities on Wednesday.

O5RU : O5RU 0%: The Reit saw a 45 per cent boost to its distribution per unit (DPU) to 2.9 Singapore cents in Q4 2021 ended March 2021, from two cents a year ago. In an exchange filing on Wednesday, the manager reported that the year-on-year rise was underpinned by stable operations and accretive acquisitions. Units of AA Reit ended 0.7 per cent or S$0.01 lower at S$1.37 on Tuesday.

A17U: The Reit is buying the remaining 75 per cent equity stake in a business park at one-north for about S$534.4 million, it announced on Tuesday after the market closed. Separately, its manager on Wednesday morning said its private placement to raise S$420 million was 2.6 times covered. The Reit priced the placement at S$2.944 per new unit. Units of the Reit ended Tuesday S$0.02 or 0.7 per cent higher at S$3.12.

LJ3 : LJ3 0%: The property developer on Wednesday morning announced it had established a 40:60 joint venture company with Auric Bespoke I in a bid to acquire up to 40 per cent of Indonesia's PT Matahari Department Store. The acquisition will be by way of a voluntary tender offer for PT Matahari's shares at a consideration of 1,530 rupiah (S$0.14) per share. OUE ended Tuesday down S$0.01 or 0.7 per cent at S$1.43.

CC3: The mainboard-listed telco saw its first-quarter earnings continue to slide on the back of lower service Ebitda (earnings before interest, taxes, depreciation, and amortisation), and losses in fledgling enterprise units. In a business update on Tuesday, chief executive Nikhil Eapen said the quarter "remains challenging with ongoing travel restrictions and headwinds from the global pandemic". StarHub closed down S$0.03 or 2.3 per cent at S$1.30, before the results announcement was released.

TS0U: On Tuesday it posted a 1.6 per cent drop in its first-quarter net property income to S$61.1 million. This was mainly attributed to provision for rental rebates to some retail tenants, partially offset by lower property operating expenses. Prior to the announcement, OUE C-Reit units closed flat at S$0.40.

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AW9U: The Reit's Q1 DPU fell to 0.65 Singapore cent after issuing more than 791 million new rights units, announced its manager on Tuesday. This was 65.1 per cent lower than the year-ago payout of 1.86 cents. Units of First Reit last closed at S$0.27, up by S$0.01 or 3.8 per cent, before the news.

S59: The maintenance arm of Singapore Airlines on Tuesday said it managed to stay profitable in the second half of its financial year but could not stave off a full-year loss. Given the financial damage from Covid-19, the board said that it would not recommend a dividend for the full year. Its shares closed at S$2.26, up by S$0.02 or 0.9 per cent, before the news.

Trading halt: Cheung Woh Technologies on Wednesday morning requested a trading halt, pending the release of an announcement.

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