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Business Times
5 days ago
- Business
- Business Times
Stocks to watch: CICT, Keppel, Sats, F&N, MPACT, Parkway Life Reit
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Aug 6): CapitaLand Integrated Commercial Trust (CICT) : The manager of the trust on Wednesday posted an update on its private placement, with an issue price fixed at S$2.11 per new unit. The Reit on Tuesday have provided a range of the issue price to be between S$2.105 and S$2.142 per new unit. In addition, the joint bookrunners and underwriters are said to have agreed to raise an additional gross proceeds of around S$100 million for the issue, such that the aggregate gross proceeds raised is approximately S$600 million. Units in CICT last traded at S$2.24, and announced on Wednesday morning that it will be lifting its trading halt. Keppel : The group on Tuesday amended the terms of the sale of its 70 per cent stake in Saigon Sport City , with lower prices than previously announced. Its subsidiary Jencity, which owns 100 per cent of Saigon Sport City, will now sell a stake of 35 per cent each to HTV Dai Phuoc and Vinobly Investment Real Estate Joint Stock, for about 2.6 trillion dong (S$127.2 million) for each divestment. This is compared the earlier agreement where Jencity was to be paid by HTV Dai Phuoc about 320 billion dong for a 5 per cent stake, and as much as 3.3 trillion dong for another 30 per cent stake. Shares of Keppel closed on Tuesday up S$0.07 or 0.8 per cent at S$8.42, before the news. Sats : The Singapore-headquartered air cargo services provider on Tuesday opened a new air-cargo handling facility in Changi Airport , which is expected to cut minimum processing time for shipments by 20 per cent. The facility covers 3,000 square metres, or about half the size of a soccer field, and can process cargo in as little as two hours, down from the usual 2.5 hours, said the company. It is named the BUP Handling Centre, and will be operated round the clock by Sats Cargo at Sats Cargo's Airfreight Terminal. The counter closed 1.3 per cent or S$0.04 up at S$3.22 before the announcement. F&N : The beverage maker on Tuesday evening reported a net profit of S$118.2 million for the nine months ended Jun 30 , a 3.9 per cent decline from the S$123 million in the same year-ago period. Revenue rose by approximately 10 per cent to S$1.77 billion, from S$1.6 billion in the corresponding period a year prior. Earnings per share for the period stood at S$0.081, lower than S$0.084 the year before. Shares of F&N closed flat at S$1.43 on Tuesday, before the news. Mapletree Pan Asia Commercial Trust (MPACT) : It has priced S$200 million of senior green notes at 2.45 per cent, with the debt maturing in 2032 . The proceeds will be used to finance or refinance eligible green projects of MPACT and its subsidiaries, said the manager of MPACT on Tuesday. The management of MPACT will apply to list the notes on the Singapore Exchange (SGX) for trading, and for the debt security to be recognised under the SGX Sustainable Fixed Income initiative. Units of MPACT closed unchanged at S$1.32 on Tuesday, before the announcement. Parkway Life Real Estate Commercial Trust (Reit) : The Reit has raised its first-half distribution per unit (DPU) by 1.5 per cent to S$0.0765 from S$0.0754 in the previous corresponding period. The higher DPU was due to acquisitions in France and Japan in the second half of 2024 and higher rental contributions from its core Singapore hospitals, said the Reit's manager on Wednesday. Revenue climbed 8.1 per cent to around S$78.3 million, boosting net property income by 8 per cent to S$73.8 million. Units of Parkway Life Reit closed 0.7 per cent or S$0.03 higher at S$4.06 on Tuesday. Vin's Holdings : The automotive group expects to report a net loss for its first half ended Jun 30, 2025, indicated its profit warning issued on Tuesday. This is due to lower revenue and higher administrative expenses, mainly driven by higher staff costs and one-off listing expenses. The group made its trading debut as the year's first initial public offering on the SGX on Apr 15. The counter ended on Tuesday 3.6 per cent or S$0.01 higher at S$0.29, before the announcement. Sing Investments and Finance (SingFinance) : The lender posted a 35 per cent increase in net profit to S$21.7 million for its first half ended June, up from S$16.1 million in the year-ago period. Its earnings per share stood at S$0.1835 for the six months, compared to S$0.0.1361 in H1 2024. The counter finished on Tuesday 0.8 per cent or S$0.01 higher at S$1.25.
Business Times
5 days ago
- Business
- Business Times
Mapletree Pan Asia Commercial Trust prices S$200 million of green notes at 2.45%
[SINGAPORE] Mapletree Pan Asia Commercial Trust (MPACT) has priced S$200 million of senior green notes at 2.45 per cent, with the debt maturing in 2032, the manager of the real estate investment trust (Reit) said in a regulatory filing on Tuesday (Aug 5). The proceeds will be used to finance or refinance eligible green projects of MPACT and its subsidiaries, added MPACT Management. Credit rating agency Moody's Investors Service has assigned a Baa2 rating – the same as the long-term issuer rating of the Reit – to the notes, which will be issued under its S$5 billion euro medium-term securities programme. DBS Trustee, as the trustee of MPACT, will unconditionally and irrevocably guarantee the payment obligations. MPACT Management will apply to list the notes on the Singapore Exchange (SGX) for trading, and for the debt security to be recognised under the SGX Sustainable Fixed Income initiative. The notes have a condition that stipulates that a default may occur if MPACT Management is removed as the Reit manager pursuant to the terms of the trust deed, and the replacement or substitute manager is not appointed in accordance with the terms of the deed. A total of about S$5.9 billion of outstanding notes and borrowings of MPACT may be affected as a result of such a default or change of the Reit manager or sponsor (subject to conditions). MPACT units closed unchanged at S$1.32 on Tuesday, before this pricing announcement.
