THE following companies saw new developments that may affect trading of their securities on Wednesday (Apr 24):
Mapletree Pan Asia Commercial Trust : N2IU 0% (MPACT): The real estate investment trust’s (Reit) distribution per unit for the fourth quarter ended March grew 1.8 per cent year on year to S$0.0229 from S$0.0225. This was driven by a strong Singapore performance and stable contributions from the Reit’s asset in Hong Kong, Festival Walk, said its manager on Wednesday. Units of MPACT closed Tuesday at S$1.25, up S$0.02 or 1.6 per cent.
CapitaLand Ascott Trust : HMN 0% (Clas): The stapled group’s gross profit for the first quarter ended March, rose 15 per cent year on year. On Wednesday, its managers attributed this to contributions from new properties as well as an overall stronger operating performance amid sustained demand for lodging. Stapled securities of Clas ended Tuesday S$0.02 or 2.3 per cent higher at S$0.895.
Hotel Properties : H15 0%: The hospitality group priced S$190 million in fixed-rate senior unsecured notes due May 3, 2029, at 5.1 per cent. Net proceeds from the issuance will be used to finance working capital requirements and refinance existing borrowings, including redeeming the S$160 million 4.4 per cent perpetual securities the group issued. Shares of Hotel Properties ended unchanged at S$3.56, before the news.
OUE Reit : TS0U 0%: Its manager on Tuesday said it obtained a S$600 million unsecured sustainability-linked loan. The loan will be used for the Reit’s early refinancing of S$540 million existing secured borrowings due in 2025 and for general corporate purposes. Units of OUE Reit ended S$0.01 or 3.9 per cent higher at S$0.27, before the announcement.
CapitaLand China Trust : AU8U 0% (CLCT): It posted a 7.7 per cent drop in net property income (NPI) to 313.1 million yuan (S$58.8 million) for the first quarter, from 339.1 million yuan in the same period last year. This was mainly due to lower contributions from logistics parks and the absence of a one-off property tax refund from CLCT’s business parks, the manager said on Wednesday. In Singapore-dollar (SGD) terms, NPI was down 11.8 per cent year on year due to the depreciation of renminbi against the SGD. CLCT’s units closed 2.2 per cent or S$0.015 higher at S$0.695 on Tuesday.
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Aztech Global : 8AZ 0%: The technology solutions provider posted a net profit of S$15.9 million for the first quarter ended Mar 2024, up 18.7 per cent from S$13.4 million in the year-ago period. On Tuesday, the group said the growth came despite a 20.4 per cent year-on-year fall in revenue to S$128.6 million from S$161.6 million. The counter closed at S$0.025 or 2.8 per cent higher at S$0.935, before the announcement.
First Reit : AW9U 0%: The healthcare Reit reported on Wednesday a 3.2 per cent lower distribution per unit of S$0.006 for the first quarter ended Mar 31, as compared to S$0.0062 in the corresponding year-ago period. It came as a stronger Singapore dollar against the Indonesia rupiah and the Japanese yen drove the quarter’s rental and other income to fall 2.7 per cent; and net property and other income to fall 2.1 per cent. Distributable income, which was also affected by higher interest rates, declined 2.2 per cent from the pervious year. Units of First Reit closed flat at S$0.25 on Tuesday.