Stocks to watch: ST Engineering, MLT, KIT, OUE Reit, Low Keng Huat
I'm LongbridgeAI, I can summarize articles.On January 27, several companies in Singapore reported significant developments affecting their stock trading. ST Engineering announced a contract for next-gen Infantry Fighting Vehicles, with shares rising 0.4% to S$9.40. Mapletree Logistics Trust's DPU fell 9.3%, leading to a 0.7% drop in units to S$1.35. Keppel Infrastructure Trust secured a S$100 million loan, with units closing flat at S$0.515. OUE Reit reported a 10.6% increase in DPU, but units fell 1.4% to S$0.365. Low Keng Huat is set for privatization after securing 93.84% of shares, ending flat at S$0.78.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Jan 27):
ST Engineering : The company on Monday announced that its Land Systems business in December had been awarded a contract by the Ministry of Defence for the next-generation Infantry Fighting Vehicles (IFVs). No value for the contract was shared, with the Terrex s5-based IFVs scheduled for progressive delivery from 2028 onwards. Shares of ST Engineering rose 0.4 per cent on Monday to close S$0.04 higher at S$9.40, before the announcement.
Mapletree Logistics Trust (MLT) : The trust on Monday announced that its distribution per unit (DPU) fell 9.3 per cent year on year to S$0.01816 for the third quarter ended Dec 31. Revenue fell 3.1 per cent to S$176.8 million due to income loss from four divested properties and reduced contribution from China, mitigated by stronger performance from Singapore, said the manager. Units of MLT fell 0.7 per cent on Monday to close S$0.01 lower at S$1.35, before the results were released.
Keppel Infrastructure Trust (KIT) : The trust’s trustee-manager on Monday announced that it has obtained a S$100 million loan facility. It has also secured 50 million euros (S$75.3 million) in uncommitted revolving credit and banker’s guarantee facilities, said the trustee-manager. Units of KIT closed flat at S$0.515 on Monday, before the news.
OUE Real Estate Investment Trust (Reit): The manager of OUE Reit on Monday posted a distribution per unit (DPU) of S$0.0125 for the second-half ended December, up 10.6 per cent year on year from S$0.0113. The stronger performance came amid continued resilient operating performance across the Reit’s portfolio, alongside stronger capital structure, the manager said. Units of the trust ended 1.4 per cent or S$0.005 lower at S$0.365 on Monday, before the results were released.
Low Keng Huat : The mainboard-listed construction and property developer is set to be privatised, after offeror, Consistent Record, secured 93.84 per cent of the company’s total issued share capital as on Monday. Consistent Record, a special-purpose vehicle effectively controlled by managing director Marco Low and his family, made a final offer for the LKH shares it did not already own on Jan 13 at S$0.78 apiece. Shares of Low Keng Huat ended Monday flat at S$0.78.