THE following companies saw new developments that may affect trading of their securities on Tuesday (Apr 23):

CapitaLand Ascendas Reit : A17U 0% (Clar): Its manager on Monday reported a higher average rental rate of 16.9 per cent for leases renewed in the first quarter of 2024, up from 15.2 per cent in the previous quarter. It also guided for FY2024 rental reversion to fall within the “positive mid-single digit range”. Units of Clar closed at S$2.55, down S$0.01 or 0.4 per cent, before the business update.

Keppel Reit : K71U 0%: Its manager on Tuesday reported net property income (NPI) of S$48.2 million for the first quarter ended March 2024, up 7.2 per cent from S$45 million in Q1 FY2023, due to higher rentals as well as contributions from 2 Blue Street. Distributable income including its anniversary distribution, however, remained flat year on year at S$55.2 million due to higher borrowing costs. Units of the Reit ended Monday S$0.01 or 1.2 per cent higher at S$0.85.