THE following companies saw new developments that may affect trading of their securities on Friday (Jun 10):
MAPLETREE Industrial Trust has divested a data centre property in Michigan, United States for a proposed sale price of US$10 million, its manager said in a bourse filing on Friday (Jun 10).
The 4-storey data centre, with a net lettable area of 52,940 square feet (sq ft), is located in Southfield, Michigan and is part of the Northwestern Office Center office park. It sits on freehold land with a land area of 121,122 sq ft.
CHINESE electric vehicle maker Nio registered 1.8 billion yuan (S$370 million) in losses for the first quarter of 2022, narrowing 62.6 per cent year on year.
Total revenue was up 24.2 per cent year on year to 9.9 billion yuan on higher vehicle sales.
Nio, which announced its unaudited financial results on Thursday (Jun 9), said it logged 25,768 in quarterly deliveries, a record high and up 28.5 per cent from the year-ago period.
Top Glove Corp., the world’s largest rubber glove maker that reported a 99% plunge in quarterly profit, said it will put its expansion plans on hold as the lifting of Covid-era curbs cools demand for protective gear.
The Malaysian company, which makes one out of every five gloves in the world, said higher wages and elevated oil prices are weighing on margins as it is unable to pass on the costs to customers due to an oversupply situation.
UNITED Hampshire US Real Estate Investment Trust is acquiring a grocery-anchored freehold shopping centre for US$85.7 million in Pennsylvania, expanding its footprint in the affluent Eastern seaboard.
The purchase price for Upland Square in Pottsdown, Pennsylvania is 0.3 per cent below the independent valuation of US$86 million, the Reit’s manager said on Thursday (Jun 9).
Upland Square has a net lettable area of about 400,674 square feet, with a 100 per cent committed occupancy rate and a long-forward committed weighted average lease expiry of 6.3 years.
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