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Stocks to watch: Keppel DC Reit, MCT, MNACT, MIT, JCG, Koyo
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Keppel DC Real Estate Investment Trust (Reit): Keppel DC Reit has entered into a supplemental deed with 1-Net Singapore to pay up to S$56.6 million to install additional core mechanical and electrical systems at a data centre located at Riverside Road. 1-Net Singapore will pay for any costs exceeding S$56.6 million. The deed will also see 1-Net Singapore paying additional rent ranging from S$6.9 million to S$7.4 million per annum, for a period of 10 years. Keppel DC Reit units ended flat at S$2.03 on Tuesday before this announcement.
Mapletree Commercial Trust (MCT), Mapletree North Asia Commercial Trust (MNACT) and Mapletree Industrial Trust (MIT): The managers of MCT, MNACT and MIT have made changes to their board of directors, with new appointments and resignations to take effect from Dec 15. MCT and MNACT have each appointed two new board of director members, while a non-executive director has resigned. Meanwhile, MIT has appointed three new non-executive directors, while two others will be leaving. MCT units closed down S$0.01 or 0.4 per cent to S$2.33, MNACT units closed unchanged at S$1.16, while MIT units rose S$0.01 or 0.4 per cent to S$2.61 on Tuesday.
JCG Investment: Catalist-listed JCG Investment and a Malaysian have entered into a subscription agreement, with the individual investor subscribing for over 53.4 million new shares, and over 10.6 million new warrants in the former. The deal will see the company raising S$100,000 in gross proceeds from the placement at S$0.00187 per share. Also, its investment warrant exercise will yield JCG additional gross proceeds of up to S$21,390 at an exercise price of S$0.002 per warrant if converted. JCG shares closed flat at S$0.02 on Tuesday, before the subscription agreement was announced.
Koyo International: Koyo International's subsidiary has been awarded an S$8 million contract, which is "expected to contribute positively to the earnings of the group for the financial year 2020". Koyo shares rose 0.1 Singapore cent or 1.56 per cent to 6.5 cents on Tuesday.
MS Holdings: The Catalist-listed mobile crane rental company posted net earnings of S$34,000 for the half-year to October, reversing a loss of S$335,000 for the corresponding period a year ago. This came mainly on an improvement in the utilisation rate of its mobile cranes. MS Holdings closed flat at S$0.05 on Tuesday before the results were announced.