The following companies saw new developments that may affect trading of their securities on Tuesday (Feb 13):
The manager of Keppel DC Real Estate Investment Trust (Keppel DC Reit) announced on Tuesday (Feb 13) that DXC Technology Services will pay a settlement amount of S$13.3 million to the Reit’s facility manager by April 2024, as a “commercial and amicable resolution” to the payment dispute.
The Reit’s pro forma distribution per unit for FY2023 would have been increased by about 7 per cent, had the amount been received in the year.
The dispute pertains to DXC’s partial default of payment related to the provision of colocation services of a data centre in Serangoon North. Singapore High Court endorsed Keppel DC Singapore’s interpretation of the agreement on Jan 12, 2024, after the Reit’s master lessee at Keppel DC Singapore 1 commenced legal proceedings against DXC in March 2022.
A subsidiary of food and beverage manufacturer Food Empire has filed a police report in Malaysia after it discovered that a junior staff had made false claims for cash advances.
Besides lodging a police report, the subsidiary, Food Excellence Specialist, has also engaged a lawyer for legal assistance, the company said in a bourse filing on Friday (Feb 9).
The transactions involving false claims for cash advances were made on Jan 30, and the employee involved has been suspended while investigations are underway.
Tourism facilities operator Straco Corporation is expected to report a substantial net profit for its 2023 financial year.
The company, which operates the Singapore Flyer, provided a profit guidance via a bourse filing on Friday (Feb 9), noting that it has experienced an overall improvement in business operations compared with the net loss it reported for FY2022.
This is from an increase in revenue from the company’s China attractions in FY2023 as visitor numbers went up as Covid-19 restrictions eased after December 2022.
REAL estate developer Hatten Land on Monday (Feb 12) reported a net loss of RM20.7 million (S$5.8 million) for its second fiscal quarter ended December 2023, significantly deeper than the loss of RM4.3 million it recorded in the year-ago period.
On a per-share basis, this translated to a loss of RM0.0111 compared with RM0.0023 in the comparable year-ago period, the group said in a bourse filing. No dividend was declared for the quarter under review.
The weaker bottom line showing in Q2 was chiefly due to a 21.3 per cent decline in revenue to RM3.8 million from RM4.9 million. Hatten Land said its sales and marketing strategy is continuing in line with the progress of securing anchor tenants for its malls, which would potentially increase the value and attract more attention to its unsold properties.
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