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Stocks to watch: mm2 Asia, UnUsUaL, Keppel DC Reit, M1, Raffles Education
THE following companies saw new developments that may affect trading of their shares on Tuesday:
mm2 Asia: A 51 per cent subsidiary of entertainment company mm2 Asia has sold a 5.39 per cent stake in listed UnUsUaL for S$25.8 million, or S$0.465 per share, to Brunei's Prince Abdul Qawi and a fund started by OSIM founder Ron Sim. mm2 Asia has no immediate plans for the use of these proceeds, the company said. The 55.5 million shares were sold at a 1 per cent discount to UnUsUaL's Monday closing price of S$0.47.
Keppel DC Reit: Keppel DC Reit has posted a first quarter distribution per unit of 1.80 Singapore cents for the first quarter, down 4.8 per cent from 1.89 Singapore cents in the same period a year earlier. Gross revenue jumped 17.9 per cent to S$38 million. Net income rose 18.2 per cent to S$34.1 million. Earnings per unit was 2.21 Singapore cents, up from 2.04 Singapore cents in the same period a year earlier. The counter closed unchanged at S$1.46 on Monday.
M1: Telco M1 announced on Monday that net profits were flat at S$34.1 million for the three months ended March 31, 2018, just 0.9 per cent higher from a year ago. Revenue rose by 0.5 per cent to S$254.1 million for the first quarter, due to higher fixed services revenue and mobile telecommunications services. Earnings per share were 3.8 Singapore cents, up 2.7 per cent from 3.7 cents last year. No dividends have been declared for the period. Shares in M1 last traded unchanged at S$1.79 on Monday.
Raffles Education: Raffles Education has entered into a heads of agreement with Australia's Propertylink for the planned sale of its entire freehold interest in a six-storey commercial building at 1-3 Fitzwilliam Street, Parramatta, in Australia's New South Wales. The sale consideration is A$82 million (S$83.6 million) and a definitive agreement has not been reached. The counter last traded down 6.8 per cent to S$0.205 on Monday.