Stocks to watch: Frasers Logistics & Commercial Trust, mm2 Asia, Top Glove, Keppel Reit

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

Frasers Logistics & Commercial Trust (FLCT): Its manager said on Thursday it has entered into sales and purchase agreements to divest three leasehold industrial properties in South Australia for A$29.6 million (S$29.5 million). FLCT's units closed at S$1.35 on Wednesday, down 0.7 per cent or S$0.01.

mm2 Asia: The owner of Cathay Cineplexes is proposing to merge its cinema business with Golden Village cinemas, in a move that would create the biggest cinema operator in Singapore. mm2 Asia shares closed at 16 Singapore cents on Wednesday, up 1.3 per cent or 0.2 cent, before this filing.

Top Glove Corporation: The mainboard-listed Malaysia glove maker is looking to reduce its dependence on foreign workers and employ more locals as dormitory issues surface, managing director Lee Kim Meow said at a press conference. For Q1 FY21, Top Glove reported net profit of RM2.38 billion (S$781.5 million) - up from RM111.4 million in the same period last year. Top Glove shares closed at S$2.27 on Wednesday, down S$0.05 or 2.2 per cent.

Keppel Reit: The commercial real estate investment trust has obtained a total of A$300 million (S$299.8 million) in green loans from UOB and BNP Paribas, its manager said on Wednesday evening. Keppel Reit units were trading flat at S$1.05 as at 9.02am on Thursday.

Nanofilm Technologies International: The nanotechnology solutions provider, which made its trading debut on the Singapore bourse in October, will be included in the FTSE ST Small Cap Index, FTSE ST China Index and FTSE ST Singapore Shariah Index after market close on Dec 21. Shares of mainboard-listed Nanofilm shed S$0.09 or 2.5 per cent to finish at S$3.53 on Wednesday, before this announcement.

Starhill Global Real Estate Investment Trust (Starhill Global Reit): Its trustee will issue S$100 million of 3.85 per cent perpetual securities, the manager said in a bourse filing on Wednesday evening. Units of Starhill Global Reit closed flat at S$0.48.

Moya Holdings Asia: The Indonesian water treatment company posted a net profit of S$11.9 million for the third quarter this year, nearly tripling from the S$4.2 million it reported for the corresponding period a year ago. The counter closed at 6.8 Singapore cents, down 1.5 per cent or 0.1 cent on Wednesday, before its business update.