The following companies saw new developments that may affect trading of their securities on Thursday (Jan 25):
Distribution per unit (DPU) for Mapletree Logistics Trust (MLT) rose 1.2 per cent to S$0.02253 for its third quarter ended Dec 31, 2023, underpinned by a resilient portfolio, contributions from acquisitions and divestment gains.
The latest DPU is up from the S$0.02227 from the same period a year ago, said the trust manager on Wednesday (Jan 24).
Gross revenue for the quarter went up 2.1 per cent to S$184 million, mainly due to higher contribution from existing properties in Singapore and contribution from acquisitions in Japan, South Korea and Australia, which were completed in the first quarter of FY 2023/24.
Suntec Real Estate Investment Trust (Reit) is eyeing further divestments of Suntec strata office units in FY2024, building on earlier divestments last year, as the manager aims to reduce gearing.
Chong Kee Hiong, chief executive of the manager, said at an earnings briefing on Wednesday (Jan 24) that the manager is guiding for around S$100 million in Suntec strata sales in the current financial year.
“If I can sell more, then I would, but I am not going to reduce the price to move the number of units divested,” he said, noting that S$100 million is not a firm target, but just a guidance which the manager believes is reasonable.
ESR-LOGOS has signed a master lease with PharmaGend Global Medical Services at more than 35 per cent higher rental than the previous one. The lease represents about 1 per cent of the real estate investment trust’s (Reit) portfolio rental income as at end-September 2023, said the Reit manager on Thursday (Jan 25).
The 20-year lease also extends the Reit’s weighted average lease expiry to 3.5 years from 3.4 years. The pharmaceutical company is located at 3 Tuas South Ave 4.
Adrian Chui, chief executive officer and executive director of the manager, said: “The agreement not only signifies the longevity of our commitment, but also highlights the confidence our valued tenants have in our ability to provide an environment which is conducive to their innovation and business growth.”
CAPITALAND India Trust (Clint) has set up its first captive solar plant in Tamil Nadu, India, which is expected to increase the trust’s green energy usage by over 70 per cent.
As opposed to centralised power plants which distribute power to multiple end-users, captive power plants generate power for an organisation’s own energy needs.
Clint’s trustee-manager on Thursday (Jan 25) said its captive solar plant will generate over 30 million kilowatt-hours of electricity annually to meet the power supply needs of two million square feet equivalent of office space.
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