Stocks to watch: Sembcorp, Mapletree Industrial Trust, Ho Bee Land
I'm LongbridgeAI, I can summarize articles.On January 29, Sembcorp Industries announced its subsidiary will supply Micron with an additional 150 megawatts of power for a new plant, while also benefiting from a potential drop in LNG prices. Mapletree Industrial Trust reported a 7% decline in distribution per unit and an 8% drop in Q3 revenue. Ho Bee Land promoted Li Xiangrun to CFO effective February 1. Sembcorp shares fell 0.2% to S$5.92, MIT units remained flat at S$2.11, and Ho Bee Land shares dropped 0.4% to S$2.48.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jan 29):
Sembcorp Industries : The company on Wednesday said that its wholly owned subsidiary Sembcorp Power will supply memory chip giant Micron with an additional 150 megawatts of power to support a new Woodlands plant in capturing artificial intelligence demand. Sembcorp is also set to be a prime beneficiary of an expected slump in liquefied natural gas prices, according to Morgan Stanley. Shares of Sembcorp fell 0.2 per cent or S$0.01 to close at S$5.92 on Wednesday, before the announcement.
Mapletree Industrial Trust (MIT) : The trust’s manager announced on Wednesday that its distribution per unit fell 7 per cent year on year to S$0.0317 in its third quarter ended Dec 31. Meanwhile, Q3 revenue fell 8 per cent to S$163.1 million from S$177.3 million in the year-ago period. The distribution will be paid out on Mar 12. Units of MIT closed flat at S$2.11 on Wednesday, before the results were released.
Ho Bee Land : The company on Wednesday said it has promoted its current head of finance, Li Xiangrun, to chief financial officer effective Feb 1. The position is currently not filled, according to the property developer’s website. Li, 43, joined the company in June 2023 as head of finance. Shares of Ho Bee Land closed 0.4 per cent or S$0.01 lower at S$2.48 on Wednesday.