Stocks to watch: Capital World, OUE C-Reit, Ascendas Reit, Frasers Hospitality Trust, IPC

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way.PHOTO: ST FILE

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Thursday (Jan 31):

Capital World: Minority shareholders of Catalist-listed Capital World have blocked a bid by the integrated property developer to issue 39 million new shares to convertible bond holder Chong Thim Pheng as part of a settlement agreement. The votes were cast at a shareholder meeting on Monday. Capital World has 1.31 billion issued shares. It proposed the share issuance in November.

OUE Commercial Reit: OUE C-Reit's distribution per unit slid 34.2 per cent for the fourth quarter ended Dec 31, 2018. DPU decreased to 0.75 cent from 1.14 cent. If Q4 2017 DPU was restated to include the 1.3 billion new units issued on Oct 30, DPU would increase 21 per cent to 0.75 cent from 0.62 cent a year ago. The rights units issue was done to finance the purchase of the office component of OUE Downtown.

Ascendas Reit: Ascendas Reit on Wednesday posted a 0.7 per cent increase in distribution per unit (DPU) to 3.998 cents for the third quarter ended Dec 31, 2018, from 3.970 cents a year ago. Ascendas noted that the DPU takes into account an enlarged number of units in issue. Net property income rose 6.6 per cent to S168 million mainly due to lower property tax expenses.

Frasers Hospitality Trust: Frasers Hospitality Trust on Wednesday posted a 4.3 per cent decrease in distribution per stapled security (DPS) to 1.2542 cents for the first quarter ended Dec 31, 2018, from 1.3107 cents a year ago. Net property income fell 1.2 per cent to S31.1 million, while gross revenue slid 2 per cent to S40.6 million.

IPC Corporation: IPC recorded a net profit of S25 million for the full year ended Dec 31, 2018, reversing from a loss of $4.8 million a year ago. The reversal was driven by fair value gains, mainly the group's preference shares investment in Nest Hotel Japan Corporation (NHJC), offset by the write-down on the 24 per cent interest in the land held for development, Ju Ren Da Sha. NHJC is in the business of hotel management, operations and investment, and manages 12 hotels in Japan.