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Stocks to watch: CDL, CapitaLand Mall Trust, KIT, Suntec Reit, KORE, Keppel
THE following companies saw new developments that may affect trading of their securities on Thursday:
City Developments Limited (CDL): Its shares tumbled 7.2 per cent to close at S$7.08 on Wednesday, hours after the property giant announced that director Kwek Leng Peck has quit due to disagreements with the management and board.
CapitaLand Mall Trust (CMT): Its distribution per unit (DPU) rose 1.3 per cent on the year to 3.1 Singapore cents for its third quarter. This included the release of S$36.4 million during the three months, or about 78 per cent of the taxable income available for distribution retained in the first half of the year. CMT units closed at S$1.91 on Wednesday, down S$0.01 or 0.5 per cent.
Keppel Infrastructure Trust (KIT): Its distributable cash flow fell 18.8 per cent to S$45.2 million in the third quarter. This was mostly due to a 32.9 per cent fall in distributable cash flow for the distribution and network sector. Its waste and water segment also saw a 3.8 per cent drop. KIT units rose 0.5 Singapore cent or 0.9 per cent to finish at 55.5 cents, before the business update.
Suntec Real Estate Investment Trust (Suntec Reit): It posted a third-quarter DPU of 1.848 Singapore cents, down 21.9 per cent from a year ago. Suntec Reit's manager said the results, released on Thursday, were underpinned by the resilience of the office portfolio in Singapore and Australia. The counter closed up S$0.01 or 0.7 per cent to S$1.46 on Wednesday.
Keppel Pacific Oak US Reit (KORE): Its distributable income for the third quarter increased by 18.5 per cent year on year to US$14.7 million. In an operational update on Wednesday after trading hours, KORE's manager said the growth was due to contributions from One Twenty Five in Dallas as well as new and expansion leases from Seattle and Denver. KORE units finished flat at 70.5 US cents.
Keppel Corp: Its wholly-owned subsidiary, Lipalton, has completed its investment in Kapstone Constructions, and now holds 49 per cent of the total voting rights of the joint-venture company, Keppel said after trading hours on Wednesday. Kapstone will develop an integrated township in Mumbai, as announced last December. Keppel shares fell S$0.05 or 1.1 per cent to close at S$4.50.
Frasers Centrepoint Trust (FCT): Its preferential offering, on the basis of 290 new units for every 1,000 existing units, was fully subscribed, FCT's manager said late Wednesday night. The offering will thus raise gross proceeds of about S$759.7 million, with some 324.6 million units to be issued at S$2.34 apiece. The counter ended flat at S$2.35 on Wednesday.
Alibaba Pictures Group: The Chinese film company expects a 35-40 per cent drop in its unaudited revenue for the six months to Sept 30, 2020, while net loss will narrow by 55-60 per cent. The dual-listed stock was flat at HK1.05 at Wednesday's close, before the profit warning.
ISEC Healthcare: The Catalist-listed medical eye-care services provider's net profit rose 47 per cent year on year to S$2.58 million for the third quarter, on the absence of an impairment loss and the addition of government grants and rental rebates from Covid-19 support measures.
Venture Corp: Shares of the mainboard-listed electronics manufacturing services firm hit a 52-week intraday high of S$21.21 on Wednesday morning. The stock ended the day at S$20.97, up 1.6 per cent or S$0.32.