Companies & Markets

Stocks to watch: Ascott Residence Trust, MIT, SGX, ISEC Healthcare, Top Glove

Published Wed, Jun 16, 2021 · 08:37 AM

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

HMN: The stapled group and its sponsor The Ascott will jointly invest and develop a 678-bed freehold student accommodation asset in South Carolina, the US, for US$109.9 million. The accretive investment is expected to raise ART's pro forma FY2020 distribution per stapled security by about 2.1 per cent. Stapled securities of ART closed flat at S$1.04 on Tuesday.

ME8U: Its manager said in a Tuesday night filing that MIT's non-renounceable preferential offering at S$2.64 per unit was 176.3 per cent subscribed. About 117.6 million new units will be issued under the preferential offering to raise gross proceeds of S$310.4 million. The fresh funds will help finance a US$1.32 billion acquisition of 29 data centres in the US. Its units rose 1.8 per cent or S$0.05 to finish at S$2.82 on Tuesday, before the announcement.

S68: The bourse operator has partnered Nasdaq to help bond issuers in the Asia-Pacific provide data on their green, social and sustainability bonds to global investors, to make them more accessible and transparent. SGX said in a press statement on Tuesday evening that this will make available standardised environmental, social and governance data covering areas such as pre-issuance frameworks and certifications as well as post-issuance allocation and impact. Shares of SGX advanced 2.5 per cent or S$0.27 to close at S$10.98 on Tuesday.

40T: Two of the medical eye-care provider's ambulatory surgical centres are participating in Malaysia's Covid-19 vaccination programme, it announced on Tuesday. The centres will administer the jabs free of charge to members of the public, with the vaccine costs to be borne by the Ministry of Health in Malaysia. ISEC will receive RM14 (S$4.51) per dose, to partially defray any manpower and other incidental costs incurred by the centres. Shares of ISEC Healthcare were flat at 35.5 Singapore cents at Tuesday's close.

BVA: The Malaysian glove maker has been removed from three indices based on environmental, social and governance factors - namely the FTSE4Good Bursa Malaysia Index, Asean 5 and Emerging Markets Index - following the FTSE4Good Index Semi Annual Review in June. This comes after allegations of forced labour practices at Top Glove. On Monday, Bursa Malaysia announced four deletions and six additions to the FTSE4Good Bursa Malaysia Index. Top Glove shares ended Tuesday 1.9 per cent or S$0.03 down at S$1.55 on the Singapore bourse, and 0.6 per cent or RM0.03 lower at RM4.74 on the Malaysian bourse.