The following companies saw new developments that may affect trading of their securities on Thursday (May 4):
Frasers Logistics & Commercial Trust (BUOU): Frasers Logistics & Commercial Trust (FLCT) posted an 8.6 per cent decline in distribution per unit (DPU) to S$0.0352 for its first half ended Mar 31, from S$0.0385 the year before.
Revenue fell by 11.7 per cent to S$208 million for the half year, from S$235.7 million previously, said FLCT’s manager on Thursday (May 4).
It attributed the lower DPU to foreign exchange weakness against the Singapore dollar, as overseas assets in Australia, Europe and the UK represented 90.2 per cent of FLCT’s portfolio value.
ARA US Hospitality Trust (XZL): ARA US Hospitality Trust (ARA H-Trust) posted a 19 per cent rise in net property income (NPI) to US$6.4 million for its first quarter ended Mar 31, from US$5.3 million for the same period the year before.
Gross revenue was also 10 per cent higher at US$36.2 million for the fiscal quarter, from US$32.8 million a year earlier.
The hospitality trust experienced continued recovery across its portfolio, noting that the recovery in the US hotel demand was supported by continued demand for business and group travels, its managers said on Thursday (May 4).
Lian Beng (L03): Lian Beng Group’s controlling Ong family, through its investment holding company OSC Capital, has made a final offer consideration to take the company private at S$0.68 per share.
OSC Capital does not intend to revise its final offer, it said on Wednesday (May 3). The holding company is 51 per cent owned by Ong Pang Aik, who is also the chairperson of Lian Beng.
This came after OSC Capital made a privatisation offer of S$0.62 per share in April, which was less than half the group’s net asset value of S$1.54 per share as at the end of November last year.
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