Stocks to watch: SIA, SGX, ART, Cromwell E-Reit, Elite Commercial Reit, SIAEC

Singapore Airlines (SIA): C6L Citing an internal circular earlier this month, The Straits Times (ST) on Sunday (Oct 31) reported that Singapore's national carrier has signed a memorandum of understanding with United Airlines to work on supporting the resumption of connectivity between the Republic and the US. SIA told ST that specifics of the agreement will remain confidential, but more details will be announced in due course. Shares of SIA closed flat at S$5.20 on Oct 29.

Singapore Exchange (SGX): S68 SGX on Monday (Nov 1) said it will be investing approximately US$200 million as a limited partner in a private equity fund managed by 7RIDGE, a specialised growth equity firm invested in transformative technologies. The fund will be acquiring Trading Technologies International, a global provider of high-performance professional trading software, infrastructure and data solutions for listed futures and options. Shares of SGX closed S$0.02 or 0.2 per cent higher at S$9.68 on Oct 29.

Ascott Residence Trust (ART): HMN The stapled hospitality group will acquire a freehold 548-bed student accommodation asset in Champaign, Illinois, United States for US$83.3 million, its managers said on Monday (Nov 1). The managers expect the acquisition will increase ART's pro forma FY2020 distribution per stapled security by around 1.2 per cent. Stapled securities of ART closed at S$1.03 on Friday (Oct 29), up S$0.01 or 1 per cent.

Cromwell European Reit (Cromwell E-Reit): CWBU The real estate investment trust (Reit) is making its third logistics acquisition in Italy for 19.6 million euros (S$30.6 million), announced its manager on Monday (Nov 1). Located in the city of Veneto in Northern Italy, the asset is a freehold, light industrial and logistics warehouse on a lease exceeding 8 years to fast-moving consumer goods company Reckitt Benckiser Group. Units of Cromwell E-Reit closed 0.04 euro or 1.5 per cent higher at 2.65 euros on Oct 29.

Elite Commercial Reit: MXNU Its manager on Monday (Nov 1) announced a distribution per unit (DPU) of 1.48 pence for the 3 months ended September 2021, 20.3 per cent higher than its actual Q3 FY2020 DPU of 1.23 pence and surpassing the IPO-projected DPU of 1.23 pence due to contributions from its maiden acquisition. Units of the Reit ended Oct 29 down 0.5 pence or 0.8 per cent at 66 pence.

SIA Engineering (SIAEC): S59 The mainboard-listed group has set up a S$1 billion euro medium-term note programme, according to a bourse filing on Saturday (Oct 30). Net proceeds will be used for general corporate purposes such as refinancing borrowings, funding investments, or general working capital. SIAEC shares ended Oct 29 unchanged at S$2.17.

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Hong Lai Huat: CTO Its wholly-owned subsidiary on Monday (Nov 1) agreed to co-develop an 11.5-hectare (ha) site in Cambodia's Sihanoukville with the land owner. About 3 to 5 ha of the site will be developed into a wholesale and distribution centre that includes a seafood market, which the group intends to either lease or sell to a potential operator. Shares of Hong Lai Huat ended S$0.003 or 3.1 per cent higher at S$0.099 on Oct 29.

Raffles Education NR7: The private school operator disclosed on Sunday (Oct 31) that independent director Gan Hui Tin had wanted to retire back in June 2021 over disagreements with disclosing the Affin Bank Writ. While Gan decided it was in the company's best interest to hold off her retirement until Raffles Education's annual general meeting on Oct 30, she took different positions from the board regarding certain announcements and responses. Shares of Raffles Education ended down 3.8 per cent or S$0.003 to S$0.077 on Friday (29 Oct).

Hatten Land: PH0 Its wholly owned subsidiary has signed a joint venture (JV) agreement to develop and operate cryptocurrency exchanges with local fintech firm, announced the group on Monday (Nov 1). Separately, the group has also proposed to issue 20 million new ordinary shares for an aggregate consideration of S$1.2 million or S$0.06 per share to Golden Summit International. Hatten Land remained unchanged S$0.059 on Oct 28 before the group called for a trading halt. Its shares resume trading on Nov 1.

Wilmar International: F34 Its net profit for Q3 rose 6 per cent to US$568.7 million, with core net profit jumping 15 per cent to a record high of US$576.4 million. In a regulatory filing on Friday evening (Oct 29). The mainboard-listed agribusiness said investment securities losses had diluted the core net profit for the quarter ended Sep 2021. Wilmar closed Oct 29 down S$0.04 or 0.9 per cent at S$4.32, before the results were announced.