Stocks to watch: CapitaLand Ascendas Reit, Golden-Agri, ComfortDelGro, Prime US Reit, Cordlife

THE following companies saw new developments that may affect trading of their securities on Friday (Nov 15):

CapitaLand Ascendas Reit: (Clar): Its manager on Friday said the real estate investment trust (Reit) will acquire a parcel of land in the US that will be developed into a new logistics property at an estimated investment cost of S$94.8 million. On a pro forma basis, the acquisition is expected to be accretive to the Reit’s distribution per unit. Units of Clar ended 0.4 per cent or S$0.01 higher at S$2.62 on Thursday.

Golden-Agri Resources: The palm oil producer’s underlying profit fell 18 per cent on the quarter to US$91 million for its third quarter from US$110 million. On Thursday, the company said the decline was driven by higher expenses due to increased interest rates and income tax expenses. The quarter’s earnings, however, were up 80 per cent on the quarter at US$118 million from US$65 million from foreign-exchange gains. The counter closed 1.8 per cent or S$0.005 lower at S$0.275 on Thursday.

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