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Stocks to watch: Soilbuild Reit, Yanlord Land, Global Yellow Pages
THE following companies made material announcements before the Singapore market opened on Thursday:
AGAINST a bigger unitholder base, it has posted a 3.1 per cent fall in distribution per unit (DPU) for the second quarter from the same period a year ago.
DPU for the three months ended June 30, 2016, stood at 1.565 Singapore cents, compared to 1.615 Singapore cents a year ago. This was based on 941 million units for the second quarter, compared to 930 million units a year ago.
The stock climbed half a Singapore cent to close at S$0.70 on Wednesday before results were released.
Yanlord Land Group
YANLORD is partnering a subsidiary of China Ping An Insurance, Shenzhen Lianxin Investment Management Co, to jointly develop a 295,000 sq m prime integrated development in Suzhou city's Gusu District.
Yanlord has acquired a 30 per cent stake in the project company which holds the prime residential site that was acquired through a public land auction for four billion yuan (S$804 million).
The stock ended the session at S$1.175, up three Singapore cents.
Global Yellow Pages
THE company has terminated an agreement to buy Hunters Plaza Shopping Centre in Auckland from Talavera Retail (Papatoetoe) for NZ$45.6 million (S$44.8 million).
Following a due diligence investigation and further to such investigation, the company identified certain key issues, and subsequent negotiations between itself and the vendor on the terms and conditions of the agreement were not successful.
The counter closed up half a Singapore cent at S$0.14 on Wednesday.