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Stocks to watch: Keppel Reit, Mapletree Logistics Trust, First Reit, Singapore banks

THE following companies saw new developments that may affect trading of their securities on Tuesday:

Keppel Reit: Its distribution per unit (DPU) of 1.4 Singapore cents for the second quarter this year is a notch above its DPU of 1.39 cents for the same period a year ago. This was despite net property income falling by 7.2 per cent to S$28.8 million. Keppel Reit units closed S$0.01 or 0.9 per cent higher at S$1.09 on Monday, before the results were announced.

Mapletree Logistics Trust (MLT): The trust’s manager declared a DPU of 2.045 Singapore cents for its first quarter ended June 30, 2020, up 1 per cent from 2.025 cents for the year-ago period. MLT units were flat at S$2.04 at Monday’s close, before the results were released.

First Real Estate Investment Trust (First Reit): In a profit warning late on Monday night, its manager said it is expecting a 40-50 per cent decline in its available distribution income to unitholders for the first six months of this year. This also comes as First Reit is providing two months' rental relief for May and June to all its tenants in Singapore, Indonesia and South Korea to alleviate the economic distress caused by Covid-19 pandemic. The counter finished unchanged at 70.5 Singapore cents before the announcements.

DBS, OCBC Bank, United Overseas Bank (UOB): Jefferies Research on Monday flagged that steep declines in interbank rates were likely to weigh on the three Singapore banks' margins and revenue, although they will see some offset from a healthy trading print. DBS shares fell S$0.09 or 0.4 per cent to close at S$21.29, UOB ended S$0.01 or 0.05 per cent lower at S$20.55, while OCBC rose S$0.01 or 0.1 per cent to S$9.18.

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Singapore eDevelopment, Biolidics: There is big money to be made in producing a vaccine for Covid-19. But analysts and scientists warn that such hopes have also lifted the shares of smaller companies, the products of which are only in early stages of development. There is also no guarantee that these experimental drugs will pass clinical trials and obtain regulatory approval. Shares of Singapore eDevelopment gained 0.4 Singapore cent or 4.4 per cent to close at 9.5 cents on Monday, while Biolidics climbed 5.5 cents or 13.3 per cent to 47 cents.

Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit), ESR-Reit: While the proposed merger between the two trusts announced last week is a win-win for both parties, there is probably more in the deal for Sabana Reit unitholders. Sabana Reit units ended flat at S$0.38 on Monday, while ESR-Reit fell 0.5 Singapore cent or 1.3 per cent to close at 39.5 cents.

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