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Stocks to watch: Ascendas Reit, SIA, Suntec Reit, UIC, Frasers Centrepoint Trust
THE following companies saw new developments that may affect trading of their shares on Thursday:
Ascendas Real Estate Investment Trust (A-Reit): The manager of A-Reit on Wednesday announced an agreement to buy a new logistics property in Sydney, Australia for A$23.5 million (S$21.1 million). Units of A-Reit ended Wednesday at S$3.19, up S$0.02 or 0.6 per cent, before this announcement.
Singapore Airlines (SIA): With international travel still largely on hold, the SIA group has stored four more aircraft in Australia, taking the number of planes parked in Australia to 22, The Business Times has learnt. SIA shares closed at S$3.81 on Wednesday, up S$0.08 or 2.1 per cent.
Suntec Real Estate Investment Trust (Suntec Reit): Suntec Reit has bumped up its stake in Harmony Investors Group, which indirectly holds Suntec International Convention and Exhibition Centre, for a total of S$40 million. Units of the trust gained S$0.02 or 1.4 per cent to finish Wednesday at S$1.43 before the announcement.
United Industrial Corporation (UIC): UIC chief executive officer and president Lim Hock San will retire on Sept 30 after 28 years in both roles, the property group said on Wednesday. Shares of UIC ended Wednesday at S$2.19, down S$0.01 or 0.5 per cent before the announcement.
Frasers Centrepoint Trust (FCT): Analysts are optimistic on FCT, believing that the suburban retail Reit's acquisition of an additional 12.07 per cent in PGIM Real Estate Asia Retail Fund will bring it closer to acquiring the assets held under the fund. Units of FCT closed one cent or 0.4 per cent higher at S$2.32 on Wednesday.
SPH Reit: SPH Reit has proposed a distribution of 0.5 cent per unit for the third quarter of FY2020, which ended on May 31. Units of SPH Reit closed at 86 Singapore cents on Wednesday, down 1.5 cents or 1.7 per cent.
Hatten Land: Two subsidiaries of Catalist-listed Hatten Land are looking to undergo debt restructuring, on top of the group's other initiatives to make its property development business more resilient in light of ongoing pressures from the Covid-19 pandemic. Hatten Land shares ended at seven Singapore cents on Wednesday, down 0.2 cent or 2.8 per cent.
Stamford Land: The mainboard-listed company on Wednesday refuted a media report alleging that its Melbourne hotel was responsible for 29 Covid-19 cases. Shares of Stamford Land last traded at 34.5 Singapore cents on June 30.
Cortina Holdings: The luxury watch retailer on Wednesday posted S$20.4 million in its net earnings for the second half-year to March, 19 per cent higher than the S$17.1 million a year ago. Cortina shares last traded at S$1.18 on June 26.
AGV Group: AGV said in a regulatory filing late on Wednesday that it had received notices from the Commercial Affairs Department and the Monetary Authority of Singapore, asking for information and documents in relation to an alleged offence under the Securities and Futures Act. The counter closed up 0.2 Singapore cent or 3.9 per cent to 5.4 cents on Wednesday, before this announcement.