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Stocks to watch: Capital World, OUE C-Reit, Ascendas Reit, Frasers Hospitality Trust, IPC

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The Singapore Exchange Centre in Shenton Way.

THE following companies saw new developments that may affect trading of their shares on Thursday:

Capital World: Minority shareholders of Catalist-listed Capital World have blocked a bid by the integrated property developer to issue 39 million new shares to convertible bond holder Chong Thim Pheng as part of a settlement agreement. The votes were cast at a shareholder meeting on Monday. Capital World has 1.31 billion issued shares. It proposed the share issuance in November.


OUE Commercial Reit: OUE C-Reit's distribution per unit slid 34.2 per cent for the fourth quarter ended Dec 31, 2018. DPU decreased to 0.75 Singapore cent from 1.14 Singapore cent. If Q4 2017 DPU was restated to include the 1.3 billion new units issued on Oct 30, DPU would increase 21 per cent to 0.75 Singapore cent from 0.62 Singapore cent a year ago. The rights units issue was done to finance the purchase of the office component of OUE Downtown.


Ascendas Reit: Ascendas Reit on Wednesday posted a 0.7 per cent increase in distribution per unit (DPU) to 3.998 Singapore cents for the third quarter ended Dec 31, 2018, from 3.970 Singapore cents a year ago. Ascendas noted that the DPU takes into account an enlarged number of units in issue. Net property income rose 6.6 per cent to S$168 million mainly due to lower property tax expenses.

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Frasers Hospitality Trust: Frasers Hospitality Trust on Wednesday posted a 4.3 per cent decrease in distribution per stapled security (DPS) to 1.2542 Singapore cents for the first quarter ended Dec 31, 2018, from 1.3107 Singapore cents a year ago. Net property income fell 1.2 per cent to S$31.1 million, while gross revenue slid 2 per cent to S$40.6 million.


IPC Corporation: IPC recorded a net profit of S$25 million for the full year ended Dec 31, 2018, reversing from a loss of S$4.8 million a year ago. The reversal was driven by fair value gains, mainly the group's preference shares investment in Nest Hotel Japan Corporation (NHJC), offset by the write-down on the 24 per cent interest in the land held for development, Ju Ren Da Sha. NHJC is in the business of hotel management, operations and investment, and manages 12 hotels in Japan.