Stocks to watch: Mapletree Commercial Trust, iFast, Straits Trading, Chip Eng Seng

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

Mapletree Commercial Trust (MCT): The manager has declared a distribution per unit of 4.17 Singapore cents for the first half ended Sept 30, down 9.9 per cent from a year ago as gross revenue and net property income fell. Unitholders will receive the distribution on Nov 27. MCT units closed at S$1.91 on Thursday, up S$0.01 or 0.5 per cent, before its results release.

iFast Corporation: The wealth management and brokerage platform on Friday reported a 150.6 per cent surge in net profit to S$6.2 million for the third quarter ended Sept 30, from S$2.5 million for the year-ago period on the back of higher revenue. iFast shares rose S$0.02 or 0.6 per cent to close at S$3.26 on Thursday.

The Straits Trading Company: The mainboard-listed property firm will issue at par S$200 million worth of notes maturing on Oct 29, 2025, it said on Friday. The unsubordinated and unsecured five-year notes carry a coupon of 3.75 per cent. Shares of Straits Trading closed at S$1.54 on Thursday, down S$0.02 or 1.3 per cent.

Chip Eng Seng: The property development and construction firm said it has reached a settlement over the termination of a proposed acquisition of a childcare centre in Australia. Shares of mainboard-listed Chip Eng Seng closed flat at 42.5 Singapore cents on Thursday, before this announcement.

First Reit: Its manager will be extending a further two months of rental relief - for September and October - to all its tenants in Indonesia, amounting to S$18.9 million. Separately, the manager has received a request from its tenant, Metropolis Propertindo Utama, for additional rental relief for the second half of 2020, flexibility in the payment of outstanding rents, as well as the restructuring of its existing master lease agreements. Units of First Reit fell 0.5 Singapore cent or 1.2 per cent to close at 41.5 Singapore cents on Thursday, prior to these announcements.

CSE Global: The technology solutions provider has received about S$91 million in new orders for the third quarter, down from the S$156.1 million a year ago. This was mainly due to a decline from its oil and gas, and mining and minerals segments. CSE Global's shares closed flat at 46 Singapore cents on Thursday, before this announcement.

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