The following companies saw new developments that may affect trading of their securities on Tuesday (Jan 23):
FRASERS Centrepoint Trust (FCT) reported a committed occupancy for its retail portfolio of 99.9 per cent for the first quarter ended Dec 31, 2023, on the back of stronger shopper traffic and improved tenant sales.
In a business update on Monday (Jan 22), FCT’s manager said its retail occupancy has improved 1.5 per cent year on year (yoy) and up 0.2 per cent when compared to the previous quarter. Each of the retail malls under the trust has a committed occupancy of at least 99 per cent, it said.
Semiconductor equipment maker AEM Holdings will adjust its inventory value and profit before tax in its results for the fourth quarter of 2023 after finding a shortfall in the group’s inventories, following an internal stocktaking exercise.
The group has “found no evidence of fraud, illegal activity or physical loss of inventory”, and the shortfall is attributed to human error in transactions with the group’s enterprise resource planning system, it said on Monday (Jan 22).
Excess inventory and profits are estimated at between S$18 million and S$25 million.
IREIT Global’s portfolio valuation as at Dec 31, 2023 stood at 899 million euros (S$1.3 billion) across its properties, based on the latest external valuation conducted by Savills.
This was 2.6 per cent lower than the real estate investment trust’s portfolio value of €922.7 million as at Jun 30, 2023, and 5.4 per cent lower than the €950.5 million it reported the year before.
Louis d’Estienne d’Orves, chief executive officer of the manager, said that since the Covid-19 pandemic and interest rate hikes, IReit’s office portfolio valuation has fallen by only 5.6 per cent, supported by active leasing and stable leases; its retail portfolio valuation actually rose by 1.4 per cent, he said.
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