Stocks to watch: Keppel, Mapletree Logistics Trust, Capitaland China Trust, Digital Core Reit, Sinarmas Land

[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Thursday (Apr 24):

Keppel: The company released an update for Q1 2025 on Thursday, reporting an increase in net profit of over 25 per cent year on year, driven by strong performance in its infrastructure, real estate and asset management segments. The company also reported that it had monetised S$347 million in assets the year to date, with another S$550 million of potential real estate divestments in advanced stages of negotiations. The group also announced on Wednesday that it entered a joint venture with Tianjin Shunhua Real Estate Construction Management to develop 19 plots of land in the Tianjin Eco-City northern district in China. The counter closed S$0.15 or 2.4 per cent higher at S$6.40 on Wednesday, before the announcement.

Mapletree Logistics Trust (MLT): MLT’s distribution per unit fell 11.6 per cent to S$0.01955 for Q4 on the back of lower revenue contribution from China and weak regional currencies. Gross revenue for the three months ended Mar 31 dipped 0.8 per cent to S$179.6 million from a year earlier, while net property income (NPI) also fell, by 1.6 per cent to S$152.8 million, its manager said on Wednesday. Units of MLT closed S$0.04 or 3.4 per cent higher at S$1.21, before the news.

Mapletree Industrial Trust (MIT): It is proposing to divest its data centre in Georgia, US, for a proposed sale price of US$11.8 million, the manager said on Wednesday. The divestment allows MIT to unlock value and redeploy capital elsewhere as it focuses on portfolio rejuvenation to deliver returns to unitholders, said the chief executive officer of the manager, Lily Ler. The proposed divestment is set to complete in Q2 2025. The counter closed on Wednesday 1 per cent or S$0.02 higher at S$2.05.

Capitaland China Trust: The manager on Thursday posted an NPI of 292.5 million yuan (S$52.8 million), down 6.6 per cent from 313.1 million yuan in the previous corresponding period. Gross revenue stood at 439.7 million yuan, 6.1 per cent down from 468.1 million yuan previously. This decrease came as retail and business park revenue both declined, due to lower rents at CapitaMall Xinnan and lower occupancy at the Singapore-Hangzhou Science Technology Park Phase II and Ascendas Innovation Towers. Units of CapitaLand China Trust closed 3.8 per cent or S$0.025 higher at S$0.69 on Wednesday, before the update.

Digital Core Reit: The manager of the data centre-focused Reit said on Wednesday that it posted a distributable income attributable to unitholders of US$11.7 million for the three months ended Mar 31, 9.9 per cent higher from the year-ago period. NPI also rose by 41.8 per cent year on year to US$22.4 million and revenue for Q1 jumped 79.9 per cent to US$44.2 million, from the same quarter in 2024. Units of the Reit advanced US$0.005 or 1.06 per cent to close at US$0.48, before the announcement.

Sinarmas Land: Its privatisation offer by Indonesia’s Widjaja family received valid acceptances of 22 per cent, bringing the offeror’s total shareholding to 92.3 per cent, the company reported on Wednesday. Following the loss of its 10 per cent free float requirement, shares of Sinarmas Land will be suspended from trading. The counter closed flat at S$0.325 on Wednesday.