Singapore stock watch: SIA, Keppel, Ascendas Reit, MCT, UOL, FCT, OUE-C-Reit

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The Singapore Exchange Centre in Shenton Way.

SINGAPORE (THE BUSINESS TIMES) – The following companies saw new developments that may affect trading of their securities on Friday (July 24):

Singapore Airlines (SIA): The national carrier has obtained $750 million of funding against some of its Airbus and Boeing aircraft to shore up liquidity amid plummeting demand due to the novel coronavirus, according to a Reuters report. Shares of SIA closed at $3.69 on Thursday, up $0.04 or 1.1 per cent, before the announcement.

Keppel Corporation: The conglomerate warned on Friday that it will recognise material impairments in its financial results for the second quarter ended June 30, 2020, pertaining mainly to its offshore and marine business. Separately on Thursday, it said its unit is set to invest 1.5 billion yuan ($300 million) to acquire and develop a data centre in China’s Tonghu Smart City. Keppel Corp shares closed at $5.95 on Thursday, up $0.02 or 0.3 per cent.

Ascendas Real Estate Investment Trust (Ascendas Reit): The Reit’s manager on Thursday posted a resilient set of financial results for the first half of the year even after including rental assistance to tenants, and it remains optimistic on its rental outlook. Units of Ascendas Reit ended $0.09 or 2.7 per cent higher at $3.43 before the announcement.

Mapletree Commercial Trust (MCT): The manager on Thursday reported a 10.7 per cent year-on-year decline in net property income to $78.9 million for the first quarter, attributing it largely to rental rebates given to retail tenants at its core VivoCity property during the Covid-19 pandemic. Units of MCT closed unchanged at $1.92 on Thursday before the announcement.

UOL Group: The mainboard-listed property company has guided for an accounting loss for H1 2020, due to fair-value losses from investment properties. Without these losses, it expects an attributable profit from operations. Shares of UOL closed at $6.81 on Thursday, down $0.01 or 0.2 per cent.

Frasers Centrepoint Trust (FCT): Portfolio occupancy fell 2.2 per cent year on year to 94.6 per cent for the third quarter ended June 30, the manager said, attributing the drop to “weakened leasing market conditions”. Units of FCT closed up $0.05 or 2.1 per cent at $2.42 on Thursday.

OUE Commercial Real Estate Investment Trust (OUE C-Reit): The Reit on Thursday posted a distribution per unit (DPU) of one cent for the half year ended June 30, 40.5 per cent lower than a year ago, according to its manager. Units of OUE C-Reit closed up 2.6 per cent or $0.01 at $0.40 on Thursday, before the announcement.

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