Stocks to watch: Sabana Reit, FSL Trust, Del Monte Pacific, Union Gas, MC Payment

Michelle Zhu

Published Thu, Mar 11, 2021 · 08:42 AM

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

Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit): The Reit manager on Wednesday said its new mall at New Tech Park, NTP+, has received its temporary occupation permit and is set to open in the second quarter of this year. As at March 10, about 80.2 per cent of the units on the first floor of the two-storey mall have been taken up. Units of Sabana Reit closed up half a Singapore cent or 1.4 per cent at 37.5 cents on Wednesday, before the announcement.

First Ship Lease Trust (FSL Trust): It has been ordered by the Singapore Exchange Regulation (SGX RegCo) to seek unitholders' approval for a sale of two product tanker newbuildings. The trustee-manager on Wednesday said it submitted a written undertaking from FSL Trust to SGX RegCo that it will seek unitholders' ratification of the sale by April 30. Prior to the announcement, units of FSL Trust closed flat at 8.7 Singapore cents.

Del Monte Pacific Limited: The canned-food brand on Wednesday reported a net profit of US$30.16 million for the third quarter ended Jan 31, nearly five times that a year ago when its earnings were weighed down by one-off expenses. On the Singapore bourse, shares of Del Monte Pacific closed up S$0.01 or 4 per cent at S$0.26, before the announcement.

Union Gas Holdings: The group on Wednesday said it signed a non-binding letter of intent with Worldbridge Industrial Developments for a proposed joint venture to supply and distribute liquefied petroleum gas in Cambodia by the end of 2021. This will mark the group's first foray into Cambodia. Shares of Catalist-listed Union Gas closed one Singapore cent, or 1.4 per cent lower at 69.5 cents prior to the announcement.

MC Payment: The Catalist-listed firm has received subscriptions for 10 million new shares of the company amounting to S$4 million from a group of investors, it said on Wednesday after the market closed. Of the sum, S$1.8 million will be used to redeem outstanding Series D convertible bonds maturing in June. MC Payment ended Wednesday down 2.5 Singapore cents, or 5.8 per cent, at 41 cents.