Companies & Markets

Stocks to watch: SIA, Ascendas Reit, Suntec Reit, Sabana Reit, Raffles Education

Published Fri, Oct 22, 2021 · 08:52 AM

THE following companies saw new developments that may affect trading of their securities on Friday (Oct 22):

SIA: C6L : C6L 0%The airline on Friday (Oct 22) morning announced that its flagship Airbus A380 will resume flying to Sydney from Dec 1, as the carrier increases its capacity to the Sydney market ahead of the Christmas holiday period. Australia is in the final stages of concluding a quarantine-free travel bubble with Singapore that could be established within next week, Prime Minister Scott Morrison announced on the same day. Shares of SIA climbed S$0.03 or 0.6 per cent to S$5.27, with 2.1 million shares changing hands as at 9.30am.

Ascendas Reit: A17U The manager on Friday (Oct 22) announced the proposed acquisition of a portfolio of 11 logistics properties located in Kansas City for a total purchase consideration of S$207.8 million, marking its first foray in the US logistics market. Proceeds from the Reit's recent divestments of 3 logistics properties in Australia will help to partially finance the proposed acquisition, which is expected to take place in Q4 2021. Units of Ascendas Reit ended Thursday up S$0.02 or 0.7 per cent at S$3.06.

Suntec Reit: T82UThe manager on Friday (Oct 22) in a bourse filing reported a distribution per unit (DPU) of 2.232 cents for the third quarter ended Sept 30, which was 20.8 per cent higher than in the previous year. The increase in DPU was attributed to strong contributions from Suntec Reit's 2 newly acquired assets in London, and the completion of 477 Collins Street in Melbourne, and lower rent assistance to retail tenants. Units of Suntec Reit ended Thursday (Oct 21) up S$0.01 or 0.7 per cent at S$1.51.

Sabana Reit: M1GU The manager announced in a quarterly business update on Thursday (Oct 21) that the real estate investment trust (Reit) logged a portfolio occupancy of 85.3 per cent as at Sept 30, the highest level since early-2018. The Reit, which removed its Shari'ah compliance status as at Thursday, has also named a new chief financial officer and a new head of real estate. Units of Sabana Reit closed flat at 43.5 Singapore cents before the announcement.

Raffles Education: NR7The private education provider on Thursday (Oct 21) disclosed that the Monetary Authority of Singapore and the Commercial Affairs Department have requested documents relating to loan facilities extended to its subsidiaries. According to the announcement, the authorities are investigating a potential offence under Section 203 of the Securities and Futures Act, which covers continuous disclosures. Shares of Raffles Education closed at S$0.061 on Monday, before they were halted on Tuesday. They begin trading today.