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Singapore stock watch: CMT, CCT, Suntec Reit, Parkway Life Reit, MIT, Keppel DC Reit, KORE

SINGAPORE (THE BUSINESS TIMES) – The following companies saw new developments that may affect trading of their securities on Wednesday (Jan 22):

CapitaLand Mall Trust (CMT), CapitaLand Commercial Trust (CCT): CMT and CCT have proposed to merge, with the enlarged entity expected to become the third-largest real estate investment trust in Asia-Pacific. The deal is subject to the approval of unitholders of CMT and CCT. Before the merger announcement, CMT and CCT also released their fourth-quarter results on Wednesday. CCT declared a 2.7 per cent increase in its distribution per unit (DPU) to 2.28 cents, while CMT posted a 4 per cent rise in DPU to 3.11 cents.

At Tuesday's close, CCT units fell two cents or 0.9 per cent, and CMT was down two cents or 0.8 per cent.

Suntec Real Estate Investment Trust (Suntec Reit): Its DPU fell by 9.4 per cent to 2.347 cents for its fourth quarter ended Dec 31, from 2.59 cents a year ago. This was mainly due to an enlarged unit base and lower capital distribution, its manager said on Wednesday. Suntec Reit units closed at $1.87 on Tuesday, down one cent or 0.5 per cent.

Parkway Life Reit (PLife Reit): It reported a 2 per cent rise in DPU to 3.34 cents for the fourth quarter. The increase was led by contribution from three Japan properties acquired in December 2019, rental growth of existing properties, as well as cost savings from refinancing initiatives, said PLife Reit's manager on Wednesday morning. The counter closed at $3.40 on Tuesday, up two cents, or 0.6 per cent.

Mapletree Industrial Trust (MIT): New revenue contributions lifted MIT's DPU for the third quarter to 3.16 cents on an enlarged unit base, up from 3.07 cents a year earlier. The counter closed at $2.78 on Tuesday, down one cent, or 0.36 per cent, before the results were announced.

Keppel DC Reit: On Tuesday evening, it posted a DPU of 1.83 cents for the fourth quarter ended Dec 31, down from 1.85 cents a year ago. Excluding the impact of the pro-rata preferential offering in October 2019 of about 0.1 cent per unit, the DPU for Q4 would have been 1.93 cents. Keppel DC Reit units closed flat at $2.25 on Tuesday before the results were released.

Keppel Pacific Oak US Reit (KORE): The trust, previously known as Keppel-KBS US Reit, on Tuesday posted a fourth-quarter restated DPU of 1.51 US cents, higher than the restated DPU of 1.25 cents in the same period a year ago. KORE units closed at 76.5 US cents on Tuesday, down two cents, or 2.55 per cent, before the announcement of the results.

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