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Stocks to watch: First Reit, Keppel, mm2 Asia, Ascott Residence Trust, ThaiBev
THE following companies saw new developments that may affect trading of their securities on Monday:
First Real Estate Investment Trust (First Reit): Indonesian real estate giant Lippo Karawaci (LPKR) plans to start discussions with First Reit to restructure its leases, as the Covid-19 pandemic has rendered its rental subsidies "unsustainable". Shares of First Reit closed at 88.5 Singapore cents on Friday, up 3.5 cents or 4.1 per cent.
Keppel Corp: The conglomerate on Monday said associate company Floatel is conducting an independent review of the latter's business plan, which may include a review and update of the assumptions used in the impairment assessment of its vessels. Keppel shares closed at S$5.91 on Friday, down S$0.06 or 1 per cent.
mm2 Asia: Film production group mm2 Asia saw its net profit decline 81.5 per cent for its latest financial year due to a challenging environment exacerbated by the Covid-19 pandemic. Shares of mm2 Asia closed flat at 17.1 Singapore cents on Friday.
Ascott Residence Trust (ART): ART will not be redeeming its S$250 million, 4.68 per cent perpetual issue on its first call date in June. The move sets a precedent for real estate invest trust perpetuals. ART closed up 6.5 Singapore cents or 7.3 per cent to 96 cents on Friday.
Thai Beverage Public Co (ThaiBev): ThaiBev has dismissed reports it is seeking a buyer for its businesses in Vietnam. It said in a Friday filing after the market close that the claim, made in recent reports by news media in Vietnam, is "entirely without merit". Shares of ThaiBev closed at 63 Singapore cents on Friday, down 0.5 cent or 0.8 per cent.
Ho Bee Land: Ho Bee has bagged a site which will be developed into Biopolis Phase 6 - a multi-tenanted facility for biomedical sciences research and development in Singapore's one-north precinct. When completed by end-2022, Ho Bee intends to hold the development as a long-term investment. Shares of Ho Bee closed up S$0.03 or 1.5 per cent to S$2.04 on Friday.
Zheneng Jinjiang Environment: The firm has not received any request for accelerated repayments on a 2018 loan, despite the technical breaches of one of the covenants of the loan in June and December last year, the waste-to-energy firm disclosed in a bourse filing on Friday. Shares of Zheneng Jinjiang closed at S$0.43 on Friday, down S$0.01 or 2.3 per cent.
ComfortDelGro: The company's taxi drivers will now deliver food from restaurants listed on food-discovery app Burpple. Burpple is partnering the mainboard-listed transport giant to offer more affordable delivery costs for merchants that are part of its subscription-based rewards programme, Burpple Beyond, both companies said in a joint statement on Friday. Shares of ComfortDelGro closed at S$1.44 on Friday, down S$0.06 or 4 per cent.
Golden Energy and Resources (Gear): The head of finance and reporting at Gear, Jill Tan, resigned on Friday to pursue other interests and career opportunities, the mainboard-listed company said in a bourse filing. Shares of Gear closed flat at 17.4 Singapore cents on Friday.