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Stocks to watch: Manulife US Reit, Del Monte, Vicom, Keppel DC Reit, PropNex

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

Manulife US Reit: The office real estate investment trust (Reit) has obtained a US$100 million five-year secured green loan from OCBC Bank. Proceeds will be used primarily to refinance Peachtree, a 27-storey Class A office building in Midtown Atlanta in the US state of Georgia. Units of Manulife US Reit fell 0.5 Singapore cent or 0.7 per cent to finish at 71 cents on Wednesday, before the announcement.

Del Monte Pacific: The food and beverage group on Thursday said it has sold a 12 per cent interest in its Philippine subsidiary for US$120 million. This is a slightly smaller stake than the 13 per cent Del Monte had initially proposed to sell for US$130 million. Shares in Del Monte closed at 10.8 Singapore cents on Wednesday, up 0.7 cent or 6.9 per cent.

Vicom: The mainboard-listed vehicle inspection group on Wednesday evening posted a flat net profit at S$7.3 million for the first quarter of this year. Vicom said this was because its inspection and testing services businesses remained stable in the three months before the "circuit-breaker" measures took effect in April and May. The counter added S$0.02 or 0.3 per cent to end trading at S$7.98.

Keppel DC Reit: It has acquired a data-centre tenant in the Netherlands, which allows Keppel DC Reit to have a direct relationship with the sub-tenant, the Reit manager said on Thursday. Units of Keppel DC Reit were trading at S$2.43 at Wednesday's close, down S$0.02 or 1 per cent.

PropNex: The mainboard-listed group said its real estate agency PropNex Realty sold 113 new homes in the first six weeks of Singapore’s "circuit breaker", accounting for a 74.3 per cent market share of top-selling projects as buyers get comfortable with virtual viewing. PropNex shares rose one Singapore cent or 2 per cent to end at 50.5 cents on Wednesday.

Thomson Medical Group: The healthcare group on Thursday said its board will voluntarily take a 20 per cent cut in directors’ fees with effect from June 1 amid the Covid-19 pandemic. Meanwhile, its senior management will forgo their annual wage increment, performance bonus and annual wage supplement for 2020. Shares of Thomson Medical Group gained 0.2 Singapore cent or 3.5 per cent to close at 5.9 cents on Wednesday.

Japan Foods: The Catalist-listed food and beverage player, whose franchise restaurant brands include its flagship Ajisen Ramen, expects full-year revenue for FY2020 to be comparable to a year ago, but said its net profit after tax will be lower, based on a preliminary review of its unaudited management accounts. Japan Foods shares were flat at S$0.31 at Wednesday’s close, before the announcement.

Prudential: Full-time Singaporean employees of close to 150 fintech firms in Singapore can now get insurance coverage against accidental death and injury for free, up till early April next year, under a collaboration between insurer Prudential Singapore and the Asean Financial Innovation Network. Prudential shares last traded at US$19.30 on March 25.

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