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Stocks to watch: CMT, FCOT, ESR-Reit, Datapulse, Trendlines, Nico Steel
THE following companies saw new developments that may affect trading of their shares on Tuesday:
CapitaLand Mall Trust (CMT): It is raising its second-quarter distribution per unit (DPU) by 3.9 per cent to 2.92 Singapore cents, from 2.81 cents a year ago, the trust manager said on Tuesday before the market opened. For the three months ended June 30, net property income grew 10.2 per cent to S$133.2 million, from S$120.8 million a year ago. Gross revenue meanwhile was up 10.6 per cent to S$189.5 million, from S$171.4 million a year ago. CMT units closed at S$2.60 on Monday, down four Singapore cents or 1.52 per cent.
Frasers Commercial Trust (FCOT): It will pay out a DPU of 2.4 Singapore cents for the third quarter, flat on the year before. Net property income dipped by 3 per cent year on year to S$19.8 million for the three months to June 30, amid higher property tax costs for Alexandra Technopark. The counter closed down by S$0.01, or 0.61 per cent, at S$1.64 on Monday, before the results.
ESR-Reit: Its DPU was stable at 1.004 Singapore cents for its second quarter, up just 0.3 per cent from 1.001 cents a year ago, according to the industrial landlord's Q2 results released on Monday. This translates to an annualised distribution yield of 7.6 per cent on the back of a more diversified portfolio with lower capital structure risks, said ESR-Reit's manager. Net property income (NPI) for the three months ended June 30 more than doubled to S$47.8 million from S$23.4 million a year ago. ESR units closed unchanged at S$0.535 on Monday, before its results were released.
Datapulse Technology: In response to a notice of compliance from the Singapore Exchange Regulation (SGX RegCo) on Friday, it said on Monday that the basis for its recent investments in two hotels was to further its property business mandate. It received shareholder approval in March to expand the mandate to include acquisitions and investments in hotels and hospitality assets, whether by way of majority or minority stakes, and whether on a standalone basis or in joint venture with selected capital partners. Datapulse shares closed down 4.1 per cent or S$0.01 at S$0.235 on Monday.
The Trendlines Group: The Catalist-listed startup incubator announced on Monday that it will be receiving a S$10.88 million injection from Librae Holdings Limited (LH), a company related to UK business tycoon Vincent Tchenguiz. Trendlines has executed a subscription agreement with LH, whose sole shareholder is a trust for which Mr Tchenguiz is the discretionary beneficiary, in which LH will subscribe for 103.6 million new ordinary shares in Trendlines' capital for S$0.105 each by way of a private placement. Trendlines shares closed flat at S$0.078 on Monday.
Singapore Kitchen Equipment: The Catalist-listed firm has unsuccessfully appealed the Hong Kong Exchange's decision to reject its dual-listing application on the bourse's Growth Enterprise Market (GEM) board. The GEM Listing Committee had convened a review hearing of Singapore Kitchen Equipment’s appeal against the decision of the GEM Listing Approval Group (GLAG) to reject its application for the proposed listing. Singapore Kitchen Equipment's shares have seen little movement since July 1, and closed flat at S$0.10 on Monday.
Nico Steel Holdings: The mainboard-listed metals supplier said it will be able to meet the S$40 million market capitalisation requirement to exit the Singapore Exchange (SGX) watch list, given “reasonable time”. In a quarterly update on Tuesday morning, the company also said it is optimistic that it will remain profitable in the current financial year. The board believes Nico Steel is at the forefront of the metallurgical and materials solutions for the 5G revolution, which will help the group achieve better financial performance and in turn improve its valuation to meet the S$40 million market cap requirement. As at July 22, Nico Steel had a market cap of S$24.81 million. The counter closed flat at 0.5 Singapore cent on Monday.
P5 Capital Holdings and Alliance Mineral Assets: Both called for trading halts pending announcements before market open on Tuesday morning.