The following companies saw new developments that may affect trading of their securities on Monday (Oct 23):
Suntec Reit (T82U): Suntec real estate investment trust (Reit) reported on Friday (Oct 20) a 14 per cent year-on-year decline in distribution per unit (DPU) amid higher financing costs and the weaker Australian dollar.
DPU for the three months ended Sept 30, 2023 fell to S$0.01793, down 14 per cent from S$0.02084 in the same period a year earlier. Even so, the manager noted the third-quarter DPU still represented a 3.1 per cent improvement from Q2 FY2023.
Chong Kee Hiong, chief executive officer of the manager, said: “The operating performance of our portfolio improved, in particular, the convention business whose recovery is ahead of schedule. However, high interest rates and energy costs continue to impact our distribution income.”
Centurion (OU8): Specialised accommodation assets player Centurion Corporation has signed a memorandum of understanding (MOU) with Abu Dhabi’s largest staff accommodation company, KEZAD Communities, to explore collaboration in the Middle East region.
Inked on Saturday (Oct 21), the MOU forms the basis for closer collaboration between both parties to capture opportunities amid rising demand for staff accommodation in the region, said Centurion on Monday.
Centurion will explore different business opportunities, such as the development of deal structures and joint ventures in the region, while leveraging KEZAD Communities’ on-ground expertise.
Second Chance (528): Real estate company Second Chance Properties has announced that the group’s net profit for the financial year ended Aug 31, 2023, will “increase significantly” when compared to the net profit of S$14.2 million for the same period a year ago, based on the management’s preliminary review of the unaudited consolidated financial statements.
It said in a bourse filing on Friday (Oct 20) that the expected increase in net profit is due to the increased dividend income received in FY2023 on quoted securities as well as gain on disposal of investment properties.
There is a realised gain of S$5.4 million upon cash acquisition as well as disposal of a few equity instruments held by the group and classified as financial assets, at fair value through other comprehensive income.
Y Ventures (1F1): The Listings Disciplinary Committee (LDC) of the Singapore Exchange (SGX) has reprimanded Catalist-listed Y Ventures, its former chief financial officer (CFO), as well as current and former directors of the company for breaching or causing the company to breach Catalist rules.
In a statement on Friday (Oct 20), SGX said Y Ventures released its unaudited financial statements for the half-year ended Jun 30, 2018, which “contained material errors and/or omissions and were thus inaccurate and non-factual”. In doing so, it breached a Catalist rule.
Former CFO Chin Ngai Sung was reprimanded for causing the company to breach the rule. The LDC has required Chin to sign a written undertaking to not seek any directorship on the board of directors, or role as a key executive officer of SGX-listed issuers for two years starting from Sep 22.
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