Stocks to watch: Ascott Residence Trust, Del Monte, SPH

Michelle Zhu

Published Fri, Sep 10, 2021 · 08:37 AM

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

Ascott Residence Trust (ART): HMN The real estate investment trust's (Reit) private placement closed about two times covered and was priced at the bottom end of its price range at 98.3 Singapore cents per new stapled security, its managers said on Friday. ART will resume trading on Friday after it called for a trading halt on Thursday morning. The counter closed flat at S$1.04 on Wednesday.

Del Monte Pacific Limited: D03 The canned food brand on Thursday posted a net profit of US$18.3 million for the first quarter ended July 31, reversing a loss of US$3.2 million for the same period a year ago. Margins improved by 600 basis points to 28.9 per cent from better sales of higher-margin branded products in the US and lower costs. Prior to the release of the results, Del Monte shares closed one Singapore cent or 2.8 per cent higher at 36.5 cents.

Trading halt: Singapore Press Holdings T39 : T39 0% (T39) on Friday morning requested a trading halt pending the release of announcements. It is seeking to get shareholders' approval at its Sept 10 extraordinary general meeting (EGM) on the proposed restructuring of its media business and formation of a new constitution.

SPH shares closed flat at S$1.94 on Thursday before it released answers to shareholder questions ahead of its EGM. The company, which publishes The Business Times, said winding up its media business may incur may incur "potentially heavy financial costs", and that any sale of the media business would also require regulatory approval.