Company briefs: Ascendas Real Estate Investment Trust

Ascendas Real Estate Investment Trust

Ascendas Funds Management, the manager of Ascendas Reit, said it is exploring investment opportunities in mature developed markets for the trust.

It plans to expand its investment scope to places as Australia and Germany. Such diversification will help to strengthen the portfolio, it said.

It added that the Reit's assets will remain predominantly based in Singapore for the foreseeable future, and that it is targeting for the new markets to make up 20 to 30 per cent of the portfolio.


Ho Bee Land

Net profit for the three months to June 30 was $16.7 million, up 36.9 per cent from the corresponding period a year earlier.

Revenue rose 14.3 per cent to $30.6 million.

Earnings per share was 2.5 cents, up from 1.83 cents last year, while net asset value per share was $3.90, the same as at Dec 31.

No dividends were declared.


The Hour Glass

Net profit for the three months to June 30 was $10.4 million, up 25 per cent from a year earlier.

Revenue was $159.3 million, up 1 per cent.

Earnings per share was 1.49 cents, up from 1.19 cents last year. Net asset value per share was 59 cents on June 30, up from 58 cents as at March 31.

No dividends were declared.


SunMoon Food

The board of SunMoon said it has received a letter from several shareholders dated yesterday requisitioning the company to convene an extraordinary general meeting.

The shareholders want to remove director Gary Loh Hock Chuan from the board.

They wish to appoint as directors Mr Tony Tan Choon Keat, Mr Mark Wee Keng Hong, Mr Tan Kah Boh Robert and Mr Ricky Goh Hoon Kan with immediate effect from the date of the meeting.

They also wish to remove any directors who may be appointed between yesterday and the date of the meeting. SunMoon said it is seeking legal advice on the matter.

A version of this article appeared in the print edition of The Straits Times on August 07, 2015, with the headline 'CompanyBriefs'. Print Edition | Subscribe