UPDATE: Singapore stocks to watch Tuesday: CDLHT, Keppel DC REIT, KORE, LMIRT, MNACT, ST Engineering, SATS

ST Engineering display at CommunicAsia conference in Singapore in 2019.ST Engineering display at CommunicAsia conference in Singapore in 2019.

These are Singapore companies which may be in focus on Tuesday, 27 July 2021: CDL Hospitality Trusts, Keppel DC REIT, Keppel Pacific Oak US REIT, Lippo Malls Indonesia Retail Trust, Mapletree North Asia Commercial Trust, ST Engineering, SATS, CSE Global and Lian Beng Group.

This item was originally published on Tuesday, 27 July 2021 at 12:06 a.m. SGT; it has since been updated to add an item on Ascott Residence Trust.

CDL Hospitality Trusts

CDL Hospitality Trusts will expand its principal investment strategy to include alternative-accommodation real estate, such as rental housing, co-living, student accommodation and senior housing, to seek increased diversification and income stability, the trust said in a filing to SGX Monday.

Read more: CDL Hospitality Trusts to expand mandate to include alternative accommodation assets

Mapletree North Asia Commercial Trust

Mapletree North Asia Commercial Trust reported Monday its fiscal first quarter net property income increased 14.3 percent on-year to S$78.28 million on lower rental relief given to retail tenants at the Festival Walk property compared with a year earlier.

Read more: Mapletree North Asia Commercial posts fiscal 1Q net property income rose 14 percent

ST Engineering

ST Engineering appointed Teo Ming Kian, age 69, as independent non-executive director and Tan Peng Yam, age 63, as non-independent non-executive director, while Quek Gim Pew, a non-independent non-executive director, has resigned, the aerospace and defense company said in a filing to SGX Monday.

Teo is the chairman of Vertex Venture Holdings and a non-executive director of Singapore state-owned investment company Temasek Holdings and of other technology startups and non-profit organizations, the statement said.

Tan is the chief defence scientist of the Singapore Ministry of Defence, ST Engineering said.

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Keppel DC REIT

Keppel DC REIT entered a deal to acquire Guangdong Data Centre for 635.9 million yuan, or around S$132 million, from Guangdong Bluesea Data Development (Bluesea) and its parent company, Guangdong Bluesea Mobile Development.

Read more: Keppel DC REIT to acquire first China data center for S$132M

Keppel Pacific Oak US REIT

Keppel Pacific Oak US REIT, or KORE, reported Monday its second quarter net property income slipped 3.3 percent on-year to US$20.23 million, while gross revenue declined 3.9 percent on-year to US$33.80 million.

Read more: Keppel Pacific Oak US REIT posts 2Q21 net property income slipped

SATS

SATS said Monday it would invest S$37 million into a wholly owned Indian subsidiary for a 14,000 square meter central kitchen facility, which is expected to produce up to 170,000 ready-to-eat meals per day. The facility, located at Kempegowda International Airport, Bengaluru, is expected to be operational in 2022, SATS said in a filing to SGX.

“SATS intends to combine its understanding of the latest food trends and authentic Indian flavours, as well as harness product and packaging innovation capabilities, using a wide range of food technologies such as fresh, cook-chill, and advanced ambient and frozen technology, to distribute and export products,” the company said in the statement.

Ascott Residence Trust

Ascott Residence Trust reported Tuesday its distribution per stapled security (DPS) climbed 95 percent on-year to 2.05 Singapore cents from 1.05 Singapore cents in the year-ago period on divestments and termination-fee income. The results missed a forecast from Daiwa.

Read more: Ascott Residence Trust posts 1H21 DPS nearly doubled even as gross profit fell 7 percent

Lippo Malls Indonesia Retail Trust

Lippo Malls Indonesia Retail Trust reported Monday its second quarter net property income more than doubled to S$31.81 million from S$12.822 million in the year-ago quarter amid lower rental and service-charge discounts as the operating environment gradually recovered and on contributions from the newly acquired Lippo Mall Puri.

Read more: LMIR Trust posts 2Q21 net property income more than doubled

 

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CSE Global

CSE Global said Monday it secured around S$104.4 million in new orders in the second quarter.

Orders in the energy segment fell to S$49.8 million in the quarter, from S$53.8 million in the year-earlier period on delays in project awards and a slower-than-expected recovery in demand for industrial automation systems, mainly due to disruption caused by the pandemic, the company said in a filing to SGX.

Lian Beng Group

Ong Sek Chong & Sons said Monday its mandatory conditional offer to acquire all the shares of Lian Beng Group, which was announced earlier this month, has closed.

Before the offer, Ong Sek Chong & Sons and concert parties had held a total of around 44.72 percent of Lian Beng, the offerer said in a filing to SGX. After the offer’s close, the offerer will control around 68.33 percent on Lian Beng’s shares, the filing said.

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