Stocks to watch: Singtel, MCT, Keppel Infra Trust, Frasers Hospitality Trust

THE following companies saw new developments that may affect trading of their securities on Thursday:

Singapore Telecommunications (Singtel): The telco's ratings outlook has been restored to "stable" by Moody's Investors Service, on analysts' hopes that lower shareholder returns will improve leverage. Singtel shares closed at S$2.40 on Wednesday, down S$0.03 or 1.2 per cent, after the news.

Mapletree Commercial Trust (MCT): Its nine-month year-to-date gross revenue for FY20/21 was down 1.9 per cent to S$348.7 million, while net property income slipped 1.2 per cent to S$275.9 million. This comes as Covid-19 rental rebates were given to eligible tenants, its manager said. MCT units closed at S$2.10 on Wednesday, down S$0.02 or 0.9 per cent before its business update, which was released after market close.

Keppel Infrastructure Trust (KIT): KIT is still keen on acquiring the remaining 30 per cent stake in SingSpring Desalination Plant from Hyflux, said chief executive of its trustee-manager Matthew Pollard in an earnings call on Wednesday. KIT has also posted a distribution per unit (DPU) of 1.86 Singapore cents for the second half of its fiscal year ended December, unchanged from the corresponding period last year. Units of KIT closed flat at 54.5 Singapore cents on Wednesday, before its results announcement.

Frasers Hospitality Trust (FHT): Colin Low has resigned as chief executive of FHT's managers - after less than two years in the role - to "pursue other professional interests outside the real estate industry". His resignation is effective April 10, 2021. Stapled securities of FHT closed at S$0.51 on Wednesday prior to this announcement, down 0.5 cent or 1 per cent.

Sheng Siong Group: In a profit guidance after trading hours on Wednesday, the supermarket operator said it expects its revenue and net profit for Q4 to vary by less than 5 per cent from the previous quarter. Sheng Siong also clarified that there has been no change to the system and method of calculating the group's employee bonus payments, which have been in place since FY2007. This comes after earlier reports noted that eligible staff will receive total bonuses of up to 16 months for FY2020. Sheng Siong shares finished at S$1.61, up S$0.02 or 1.3 per cent.

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AIMS Apac Reit (AA Reit): Its DPU for the third quarter ended Dec 31 fell 18 per cent to 2.05 Singapore cents from 2.5 cents in the same period a year ago, its manager said in a bourse filing on Thursday morning. Separately, AA Reit is set to acquire Sime Darby Business Centre along Alexandra Road for S$106.6 million, its manager announced after market close on Wednesday. Units of AA Reit finished at S$1.29 on Wednesday, down S$0.01 or 0.8 per cent.

Keppel Pacific Oak US Reit (KORE): The trust posted a DPU of 3.13 US cents for the second half of its fiscal year ended December, up 4 per cent from 3.01 cents in the corresponding period last year. Distributable income for the period rose 13.4 per cent year on year to US$29.5 million. KORE units closed at 71 US cents on Wednesday, up 0.5 cent or 0.7 per cent, before the results announcement.

Olam International: The global food and agri-business has priced a S$100 million reopening of its 4 per cent fixed-rate senior unsecured notes due Feb 24, 2026 via a private placement exercise. This increases the total bond size to a benchmark quantum of S$600 million. Olam shares closed flat at S$1.68 on Wednesday, before this announcement.