Stocks to watch: Capitaland Ascendas Reit, Sats, Frasers Centrepoint Trust, First Sponsor, Stoneweg Reit, UOI, LMIRT

[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Tuesday (Apr 29):

CapitaLand Ascendas Reit (Clar): It reported a growth in portfolio rental reversions of 11 per cent in the first quarter of 2025, despite occupancy dipping, in a bourse filing on Monday (Apr 28). Across Clar’s portfolio, all geographies saw a fall in occupancy, with a 1.3 per cent quarter-on-quarter (qoq) decline in total portfolio occupancy. Australia saw the biggest decrease, falling 3.3 per cent qoq to 89.2 per cent. Units of Clar closed up 0.8 per cent or S$0.02 at S$2.68 on Monday.

Amara: Hwa Hong, Wing Tai, Teo family consortium on Monday launched a bid to take Amara private at S$0.895 a share. The offer is final and values the hotel group at about S$514.6 million. It represents a premium of 27 per cent over Amara’s closing price of S$0.705 on Apr 23 before the company called for a trading halt the following day. The S$0.895 offer price also represents a 42.1 per cent, 44.8 per cent, 46.7 per cent and 48.9 per cent premium over Amara’s volume-weighted average price for the one-month, three-month, six-month and 12-month periods up to and including the last traded day, respectively.

Sats: Worldwide Flight Services – a wholly owned subsidiary of inflight caterer and ground handler of Sats, has partnered the Port Authority of New York and New Jersey and global investment manager Realterm to open a US$270 million cargo terminal at John F Kennedy International Airport in the US. This is the airport’s first new cargo terminal in 30 years, and will help to reduce congestion and streamline operations, said the three entities in a joint press release on Monday (Apr 28). Units of Sats closed flat at S$2.81 on Monday, before the news.

Frasers Centrepoint Trust (FCT): The manager of the trust on Tuesday (Apr 29) posted a 0.5 per cent increase in distribution per unit (DPU) for the first half ended Mar 31 to S$0.06054, from S$0.06022 in the same period a year before. The DPU for H1 2025 will be paid on May 30. Distributions to unitholders for the period rose 4.9 per cent on the year to S$110.1 million, from S$104.9 million. Units of FCT closed unchanged on Monday at S$2.25.

First Sponsor: It reported that weak market sentiments in the first quarter of 2025 continued to have an impact on its property development business in China, in a bourse filing on Monday. This was despite the easing of property-related measures and the implementation of pro-market fiscal and monetary policies by the Chinese government in the second half of 2024. First Sponsor remains cautiously optimistic that further government support this year will contribute to a gradual market recovery. Shares of First Sponsor closed up 3.8 per cent or S$0.04 at S$1.09 on Monday, before the news.

Stoneweg European Real Estate Investment Trust (Stoneweg E-Reit): The DPU of Stoneweg European Real Estate Investment Trust declined 3.7 per cent to 3.374 euro cents for the first quarter ended Mar 31, from 3.505 euro cents in the year-ago period. This was despite a 2.4 per cent increase in net property income to 33.5 million euros (S$49.9 million), driven by higher rental income from assets and a reversal of bad-debt provisions. Gross revenue was up 0.5 per cent to 53.6 million euros in the first quarter, with “stable leasing activity supporting income levels”, said the manager in a statement on Monday. The counter closed 2.3 per cent higher or S$0.05 to S$2.21 on Monday.

United Overseas Insurance (UOI): Its profit before tax for Q1 FY2025 fell marginally by 3 per cent to S$7.8 million, from S$8 million in the previous corresponding period. The fall was attributed to a decrease in non-underwriting income but partly offset by stable underwriting results, said the general insurance arm of United Overseas Bank in a financial highlight released on Monday. The counter closed Monday unchanged at S$7.75 before the news.

Lippo Malls Indonesia Retail Trust (LMIRT): The Indonesian mall property trust announced on Monday a 2.4 per cent decline in net property income to S$29.2 million for the first quarter ended Mar 31, from S$29.9 million a year prior. This came amid a 3.4 per cent depreciation of the rupiah to the Singapore dollar, said the trust’s manager in a release accompanying the results. In rupiah terms, net property income inched up by 1 per cent to 352.1 billion rupiah. This was mainly from a net reversal for an impairment loss on trade receivables, following a successful collection from a certain credit impaired tenant, it said. Units of the trust closed flat at S$0.013 on Monday, before the announcement.