Stocks to watch: mm2 Asia, KORE, CICT, AIMS APAC Reit, Mapletree Industrial Trust

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

mm2 Asia 1B0: The entertainment group announced on Wednesday that it has entered into a non-exclusive binding term sheet with financial investment firm Kingsmead Properties for the proposed sale of 80 per cent or more of its cinema business, valued at between S$80 million and S$120 million under its wholly-owned subsidiary mm Connect. Shares of mm2 Asia rose 3.1 per cent or 0.2 Singapore cent to close at 6.7 cents on Tuesday.

Keppel Pacific Oak US Reit CMOU : CMOU 0% (KORE): It is acquiring two office assets in Nashville and Denver for a total of US$105.1 million, the Reit manager announced on Wednesday morning. KORE has proposed a private placement to raise some US$65 million to partially fund the transaction. It also obtained a 5.5-year US$120 million term loan. Units of KORE ended 1.5 US cents or 1.9 per cent higher at 80 cents on Tuesday, before the Reit manager called for a trading halt pending the announcement.

CapitaLand Integrated Commercial Trust C38U(CICT): The CapitaLand subsidiary posted distribution per unit (DPU) of 5.18 Singapore cents for the first half ended June 30, up 75 per cent from a DPU of 2.96 cents in the year-ago period, as gross revenue doubled following the merger with CapitaLand Commercial Trust (CCT). Units of CICT closed 0.5 per cent or S$0.01 higher at S$2.10 on Tuesday.

AIMS APAC Reit O5RU: The real estate investment trust's (Reit) distribution per unit (DPU) rose 12.5 per cent to 2.25 Singapore cents for its first quarter ended June 30, from two cents a year ago, due to new leases at its recently acquired 7 Bulim Street property, and higher rental and recoveries from two of its other properties, the Reit manager said in a bourse filing on Wednesday. Units of AIMS APAC Reit closed flat at S$1.55 on Tuesday.

Mapletree Industrial Trust ME8U: The Reit reported a bumped-up first-quarter distribution per unit (DPU) of 3.35 Singapore cents, including an advanced distribution announced at end-May, up from the 2.87 cents paid out in the year-ago period. Distributable income also grew 17.2 per cent to S$82.7 million for the three months to June 30. Units of Mapletree Industrial Trust closed at S$2.88 on Tuesday, before the results were released.

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Keppel Reit K71U: The Reit reported a distribution per unit (DPU) of 2.94 Singapore cents for the first half ended June 30, up 5 per cent from 2.8 cents a year ago. Distributable income increased 11.5 per cent to S$105.7 million. Net property income attributable to unitholders also rose 50.3 per cent to S$76 million during the half year. The counter ended flat at S$1.20 on Tuesday, before the results were released.

Oxley Holdings 5UX: The real estate developer on Tuesday announced that it obtained temporary occupation permits (TOPs) for two more Singapore residential development projects last month. Including private condominium The Addition, which obtained its TOP in April, three out of the group's 10 residential development projects in Singapore have obtained TOP. Shares of Oxley ended at 22.5 Singapore cents on Tuesday, up 0.5 cent or 2.3 per cent.

HC Surgical Specialists 1B1: The Catalist-listed medical services provider has announced a doubled dividend, citing uplift from demand for colorectal procedures. Second-half net profit was up 64.7 per cent year on year to S$3 million for the six months to May 31. Its board has recommended a final dividend of 2.3 Singapore cents a share, compared with 0.7 cent previously. If approved, it would take the full-year payout to four cents a share, twice the dividend of two cents paid out for the year before. Shares of HC Surgical closed at 48 Singapore cents on Tuesday, down 0.5 cent or 1 per cent, before the results were announced.

KTL Global EB7: The group announced on Tuesday it entered a non-binding memorandum of understanding with Warehouse Logistics Net Asia to acquire an industrial property at Tuas for S$6 million as the company diversifies into the distribution business. The counter closed 11.9 per cent or 1.3 Singapore cents higher at 12.2 cents on Tuesday, before the announcement.