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Stocks to watch: Yanlord Land, Hi-P, ARA Logos Logistics Trust, United Hampshire US Reit
THE following companies saw new developments that may affect trading of their securities on Tuesday:
Singapore Airlines (SIA): The national carrier is part of a group participating in trials between Singapore and the UK to test the efficacy of health safety measures throughout the travel journey between both countries, according to a joint statement on Monday afternoon. Separately, Indian airline Vistara - owned by SIA and Tata Sons - said it is in talks with planemakers and leasing companies to delay taking delivery of some aircraft as Covid-19 hits demand for air travel. Shares of SIA were trading at S$3.96 as at 9.25am on Tuesday, up S$0.03 or 0.8 per cent.
Yanlord Land Group: The Chinese property developer on Monday evening said it had recorded 29.8 billion yuan (S$6 billion) in total contracted pre-sales from residential units, commercial units, and car parks in the first half of the year, a 65 per cent increase from the previous year. Yanlord shares closed at S$1.31 on Monday, up S$0.07 or 5.7 per cent.
Hi-P International: The mainboard-listed company responded at 5.38pm to a query from the Singapore Exchange (SGX) about its "unusual price movements" on Monday, stating that it was not aware of any information not previously announced which might explain the trading. Shares of Hi-P closed at S$1.24 on Monday, up S$0.17 or 15.9 per cent.
Ascendas Real Estate Investment Trust (A-Reit): Beh Swan Gin on Monday joined the board of Ascendas Funds Management, and took over as its chairman following Lim Hock San's retirement. Dr Beh was also appointed as a non-executive independent director of AFM and a member of the investment committee. Units of A-Reit were trading at S$3.29 as at 9.35am on Tuesday, up S$0.01 or 0.3 per cent.
ARA Logos Logistics Trust (ALog): The chief executive officer (CEO) of Alog's manager, Daniel Cerf, is retiring on Aug 14. From Aug 15, Karen Lee Kiah Ling will assume the role of CEO, the trust's manager said in a bourse filing on Tuesday morning. Ms Lee's appointment is subject to approval from the relevant authorities. Units of ALog ended Monday at 57.5 Singapore cents, up 0.5 cent or 0.9 per cent.
United Hampshire US Real Estate Investment Trust (United Hampshire US Reit): The Reit's manager said on Monday that it collected around 80 per cent of base rents from retail tenants in June. It collected around 77 per cent of base rents in May, and 82 per cent in April. Units of United Hampshire US Reit ended Monday 0.5 US cents or 0.8 per cent lower at 59 cents before this announcement.
Boustead Projects: The real estate solutions company on Monday said its net profit remained steady at S$12.6 million for the half-year ended March 31, 2020 - 1 per cent higher than the S$12.5 million a year ago. Boustead Project's shares were trading flat at S$0.73 as at 9.35am on Tuesday.
Fuxing China Group: The zipper producer is looking to sell part of its office building in China for about 430.3 million yuan (S$84.9 million) in cash. Shares of the mainboard-listed company last traded on June 19 at S$0.61.
Starburst Holdings: The Catalist-listed company, which specialises in the design and engineering of firearms training facilities, said on Monday that its wholly-owned unit has been awarded a S$13.1 million contract to upgrade a tactical training mock-up facility in South-east Asia. Starburst shares closed flat at S$0.38 on Monday.
GS Holdings: The Catalist-listed company has entered into a conditional sale-and-purchase agreement with GreatSolutions - a former wholly-owned subsidiary - for the disposal of its centralised commercial dishwashing and cleaning business. Shares of GS Holdings ended at S$0.50 on Monday, up S$0.01 or 2 per cent.
AGV Group: The Catalist-listed company on Tuesday said it has raised net proceeds of S$5.1 million from its rights issue, which was 53.4 per cent subscribed. Shares of AGV Group closed at 4.2 Singapore cents on Monday, up 0.2 cent or 5 per cent, before this announcement.