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Stocks to watch: ST Engineering, CMT, MLT, Ascott Reit, A-HTrust, FCOT
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Singapore Technologies Engineering (ST Engineering): ST Engineering on Monday said its aerospace and electronics sectors have secured new contracts with a combined value of about S$1.8 billion for the third quarter of 2019. The company said these developments are not expected to have any material impact on its consolidated net tangible assets per share and earnings per share for the current financial year. The counter closed flat at S$3.92 on Monday.
Capitaland Mall Trust (CMT): CMT on Monday posted a distribution per unit (DPU) of 3.06 Singapore cents for its third quarter ended Sept 30, 2019, up from the 2.92 cents paid out a year ago. The books closure date is Oct 30, 2019; distributions will be paid on Nov 29, 2019. Net property income (NPI) rose 17.6 per cent to S$144.2 million, while distributable income to unitholders went up 9.1 per cent to S$113 million. Units of the trust added one Singapore cent to finish at S$2.65 on Monday.
Mapletree Logistics Trust's (MLT): Stable performance across all its markets coupled with new portfolio assets boosted MLT's second-quarter DPU to 2.025 Singapore cents, up 3.4 per cent from 1.958 cents a year earlier. NPI rose 21 per cent to S$109.1 million, while amount distributable to unitholders rose 15.4 per cent to S$73.7 million. Separately, the Reit also announced the proposed acquisitions of seven logistics properties in Malaysia, Vietnam and China for a total of S$493.4 million. Units of the trust ended one Singapore cent lower at S$1.66 on Monday, before the announcements were made after market close.
On Tuesday morning, MLT said it is proposing a private placement to raise around S$250 million to partially fund its acquisitions. Between 154.6 million to 158.3 million new units are to be listed, at an issue price ranging between S$1.579 and S$1.617 per unit.
Ascott Residence Trust (Ascott Reit), Ascendas Hospitality Trust (A-HTrust): Ascott Reit and A-HTrust both requested for the lifting of their trading halts on Tuesday morning before the market opened, following the results of their extraordinary general meetings (EGMs) on Monday. Unitholders of both trusts have given overwhelming support to the proposed merger of the two entities. The resolutions were passed in two separate EGMs. Ascott Reit units last traded at S$1.37 last Friday, down 0.7 per cent, or one Singapore cent, while A-HTrust units closed unchanged at S$1.13 on Friday.
Frasers Commercial Trust (FCOT): FCOT's DPU was unchanged from a year ago at 2.4 Singapore cents per unit for its fourth quarter ended Sept 30. Net property income (NPI) grew 0.5 per cent on the year to S$21.7 million for the quarter, from S$21.6 million. Total income available for distribution rose 2.3 per cent year on year to S$21.9 million, from S$21.4 million. The distribution will be paid out on Nov 29, after books closure on Oct 31. Units of FCOT closed one Singapore cent or 0.6 per cent higher at S$1.62 on Monday.
Jumbo Group: Restaurant operator Jumbo on Monday announced the opening of its second franchised Jumbo Seafood restaurant in South Korea, marking the group's seventh franchised Jumbo Seafood restaurant. Jumbo has six other franchised seafood outlets in the cities of Bangkok, Fuzhou, Ho Chi Minh, Seoul, Taipei and Taichung. Shares in Jumbo closed unchanged at 37 Singapore cents on Monday.
Sen Yue Holdings: Catalist-listed waste management firm Sen Yue Holdings on Monday said that it will raise about S$6 million from research and development company Jiangmenshi Changxin Technology's subscription of 120 million new shares in the company at five Singapore cents each. The placement price represents a premium of 72.4 per cent to the volume-weighted average price of 2.9 cents for trades done on Monday.