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Stocks to watch: AA Reit, Genting HK, AEM Holdings, mm2 Asia, OUE C-Reit
THE following companies saw new developments that may affect trading of their shares on Thursday:
Aims AMP Capital Industrial Reit (AA Reit): AA Reit recorded a distribution per unit of 2.62 Singapore cents for its third quarter 2018, down 5.4 per cent from 2.77 cents previously. Net property income declined 2.8 per cent to S$19.2 million, while distribution to unitholders dipped 3.5 per cent to S$17.1 million compared to a year ago. Units of AA Reit closed at S$1.37 per unit on Wednesday.
Genting Hong Kong: The group on Thursday warned that it is expected to record another net loss for the year, but this will be smaller compared to the preceding year's. Based on a preliminary assessment, consolidated net loss for FY2017 is expected to range from US$240 million to US$270 million, against a year-ago consolidated net loss of US$537 million, said the cruise company. The counter closed at US$0.225 apiece on Wednesday.
AEM Holdings: AEM requested a trading halt on Thursday morning, as it announced the acquisition of Afore, a Microelectromechanical systems testing and handling solutions company based in Finland, for 7.58 million euros (S$12.3 million). Shares of AEM closed at S$4.97 apiece on Wednesday.
mm2 Asia: In a release after Wednesday's market close, mm2 Asia said its board had approved the spin-off of Vividthree Productions, a Singapore-based studio in which it took a 51 per cent stake in 2015, and will eventually list on the Catalist-board. mm2 Asia did not provide a timeline for the listing. The counter closed flat at 51 Singapore cents apiece on Wednesday.
OUE Commercial Reit (OUE C-Reit): An absence of performance fees and higher income support drawn lifted results for landlord OUE C-Reit for its fourth quarter. Distribution per unit dipped to 1.14 Singapore cents from 1.18 Singapore cents for the previous year. OUE C-Reit units finished unchanged at S$0.75 on Wednesday before results were announced.