Market Snapshot

Singapore stocks opened lower on Friday. STI fell 0.8%; AvePoint, CDL HTrust down around 4%; ST Engineering down 3%; Keppel DC Reit, iFast down over 2%.

Stocks in Focus

The following companies saw new developments that may affect trading of their securities on Friday (Feb 6): 

CapitaLand Integrated Commercial Trust (CICT): The trust on Friday posted a distribution per unit (DPU) of S$0.0596 for the second half ended December, up 9.4 per cent year on year from S$0.0545. The growth came despite an enlarged unit base, with distributable income rising. Units of CICT fell 0.4 per cent or S$0.01 to close on Thursday at S$2.38.

Nio: The electric vehicle maker projects to record its first-ever quarterly adjusted operating profit – earnings from operations excluding share-based compensation expenses – for the quarter ended Dec 31. Nio said on Thursday that its Q4 adjusted operating profit is set to range from 700 million yuan (S$128.4 million) to 1.2 billion yuan. Its Singapore-listed shares rose 1.8 per cent or US$0.08 to close at US$4.66 on Thursday, before the news.

CapitaLand Ascendas Reit (Clar): Its DPU fell 2 per cent to S$0.07528 for its second half ended Dec 31 from S$0.07681 previously. H2 distributable income rose 2.7 per cent to S$347.2 million from S$338 million, the manager said. The counter ended Thursday at S$2.86, 0.4 per cent or S$0.01 higher, before the release of the results. 

City Developments Limited (CDL): A S$709.25 million bid for a private-housing site in Tanjong Rhu, placed by CDL’s tie-up with Woh Hup, has emerged as the top bid for the tender. The higher-than-expected bid works out to of S$1,455 per square foot per plot ratio (psf ppr). It was 2.5 per cent above the second-highest bid, of about S$1,419 psf ppr. Shares of CDL closed Thursday 1.2 per cent or S$0.11 higher at S$9.63, before the news.

Hutchison Port Holdings Trust (HPH Trust): Its DPU of HK$0.065 for the six months ended Dec 31 was down 9.7 per cent from HK$0.072 for the year-ago period. FY2025 revenue rose 2.6 per cent to HK$11.9 billion (S$1.9 billion), as container throughput at Yantian International Container Terminals in Shenzhen, China, increased 7.1 per cent. HPH Trust ended Thursday at US$0.215, down 2.3 per cent or US$0.005.

Low Keng Huat: A privatisation bid for the construction and property developer has turned unconditional. The offerer, a special-purpose vehicle effectively controlled by managing director Marco Low and his family, secured 95.47 per cent of shares as at Thursday 6 pm, after it already secured more than 90 per cent of votes in late January and crossed the required threshold. Low Keng Huat no longer meets the free float requirement to remain listed, of having minimally 10 per cent of shares publicly held. Its shares ended Thursday flat at S$0.78.

First Real Estate Investment Trust (Reit): The manager on Thursday posted a DPU of S$0.0104 or the second half ended Dec 31, down 10.3 per cent year on year from S$0.0116. H2 distributable income declined 9.3 per cent to S$22 million, from S$24.3 million. Units of First Reit ended at S$0.275, 1.9 per cent or S$0.005 higher on Thursday, before the release of the results.

Elite UK Reit: The manager announced on Thursday that the Reit has inked £24.3 million (S$42.1 million) in new lease agreements with the UK government for properties occupied by the Department for Work and Pensions. The deal covers an aggregate annual rent of £24.3 million. The new agreements are part of the manager’s strategy to proactively diversify its lease expiry profile and extend leases ahead of expiries. Units of Elite UK Reit ended at £0.355 on Wednesday, £0.005 or 1.4 per cent lower. It requested for a trading halt on Thursday before market open, and lifted the halt after market close.