The following companies saw new developments that may affect trading of their securities on Friday (Jan 27):
Frasers Centrepoint Trust (J69U), Frasers Property (TQ5): Frasers’s (FCT) private placement to raise S$200 million has closed at the issue price of S$2.18 per new unit, near the middle of the S$2.16 and S$2.204 range proposed.
The placement was 2.5 times covered, with “strong participation” from new and existing institutional, accredited and other investors, the manager said on Friday (Jan 26).
Proceeds from the placement will be used to partially fund the real estate investment trust’s acquisition of Frasers Property’s 24.5 per cent stake in retail mall Nex, which has an agreed property value of S$2.1 billion.
Mapletree Industrial Trust (ME8U): Distribution per unit (DPU) for Mapletree Industrial Trust (MIT) fell 0.9 per cent to S$0.0336 for its third quarter ended Dec 31 on an enlarged unit base, down from S$0.0339 in the year-ago period.
On a quarter-on-quarter basis, the DPU in Q3 was 1.2 per cent higher than the S$0.0332 in Q2, said its bourse filing on Thursday (Jan 25).
Gross revenue in Q3 was up 2 per cent to S$173.9 million, from S$170.5 million in Q3 FY 2022/2023.
Keppel DC Reit (AJBU): Keppel DC Reit’s distribution per unit (DPU) for the half year ended Dec 31 dropped 16.1 per cent to S$0.04332.
This came as its H2 distributable income fell 18.5 per cent to S$76.4 million on higher finance costs and loss allowances for the uncollected rental income from its three Guangdong Data Centres, said the manager on Friday (Jan 26).
Finance costs for the period rose 43.5 per cent to S$25.8 million, as compared to S$18 million a year ago.
Cordlife (P8A): A Substantial shareholder of Cordlife Group, Robust Plan, has sold 4.6 million shares on Jan 23, bringing its stake down from 5.47 per cent to 3.67 per cent, said the counter in a bourse filing on Thursday (Jan 25).
With the sale, which netted S$1.5 million, Robust Plan and its beneficial owner Shanghai Dunheng Capital Management ceased to be a substantial shareholder of Cordlife.
This move comes after Cordlife has faced lapses with its cord-blood storage facilities, with the temperature in one storage tank reaching 20.4 degrees Celsius, well above the acceptable limits of minus 150 deg C. The company has been suspended for a six-month period from collecting, testing, processing and/or storing new cord blood and human tissues from Dec 15, 2023, by the Ministry of Health (MOH).
Dasin Retail Trust (CEDU): The trustee-manager of Dasin Retail Trust said in a bourse filing on Thursday (Jan 25) that it has been advised by its legal adviser that the request to hold an extraordinary general meeting (EGM), to be held on Feb 19, is not valid.
The request, made by unitholders holding more than 10 per cent of the trust, had sought an EGM for two resolutions – one seeks to remove the manager of Dasin Retail Trust, while the other seeks to internalise the trustee-manager function of Dasin Retail Trust and form a committee of the requisitioning shareholders claiming to own more than half the trust to identify and appoint a new board of directors.
The other requestor for the EGM was Glory Class Ventures, which had sought to vote on three resolutions – first, to remove the current trustee-manager from Dasin Retail Trust; second, to internalise the manager function into Dasin Retail Trust, and third, to empower the internal manager to issue units.
LHN (41O): An LHN subsidiary, Chua Eng Chong Holdings, has inked a contract with MOH Holdings to design, retrofit and operate two lodging facilities, announced the real estate management services provider on Thursday (Jan 25).
The facilities, located at 100 Ulu Pandan Road and 60 Boundary Close, will house about 700 healthcare professionals, and will start operations in the second half of 2024.
This contract is not expected to have any material impact on LHN’s financials.
Comments