Stocks to watch: CICT, CapitaLand Ascendas Reit, Lendlease Global Commercial Reit, Frasers Hospitality Trust, Sunpower

The following companies saw new developments that may affect trading of their securities on Tuesday (Aug 5):

CapitaLand Integrated Commercial Trust: The trust posted a 3.5 per cent rise in distribution per unit (DPU) to 5.62 cents for the first half of 2025. This rise was largely due to the six-month contribution from Ion Orchard, better performance from existing properties and lower interest expenses from lower gearing and an easing interest rate environment. Revenue dipped 0.5 per cent to S$787.6 million, while net property income fell 0.4 per centto S$579.9 million. The counter closed 2.28 per cent or S$0.050 up on Monday at S$2.240.

CapitaLand Ascendas Reit: The industrial property player posted a 0.6 per cent drop in DPU for the first half of the 2025 financial year, down to S$0.07477, on the back of an enlarged unit base. The unit base grew 0.7 per cent year on year. The Reit also posted a 2 per cent lower H1 revenue at S$754.8 million due to the divestment of five properties in Australia, Singapore and the US, and the decommissioning of a property in the UK for redevelopment in June 2024. However, the decrease in revenue was partially offset by the acquisition of a logistics centre in the US. The Reit’s units closed Monday up 2.2 per cent or S$0.06 at S$2.80, before the results were released.

Lendlease Global Commercial Reit: The Lendlease Global Commercial Reit posted a 1.8 per cent increase in DPU for the first half of FY2025. The higher DPU was due to better performance of its Singapore properties and lower finance costs, said the Reit’s manager on Monday. Revenue rose 1.9 per cent to S$102.9 million, while net property income was 2.7 per cent higher at S$73.8 million. The Reit’s units closed Monday 2.7 per cent or S$0.015 higher at S$0.565, before the financial statements were released.

Frasers Hospitality Trust: The trust posted mixed results across its markets on Monday for the third quarter ended June. Revenue per available room (RevPAR) fell by between 1.2 and 5.6 per cent in Singapore, Australia and Malaysia. On the other hand, RevPAR rose 17.6 per cent in Japan, and 0.1 per cent in the United Kingdom. The average daily rate increased 8.3 per cent year on year, mainly due to weakness in the transient and corporate segment, but there was a 4 percentage occupancy improvement to 73 per cent for its Singapore portfolio for the quarter. Units of Frasers Hospitality Trust rose 0.7 per cent or S$0.005 to S$0.705 on Monday, before the results were published.

Sunpower: The environmental protection solutions provider received 135.2 million yuan (S$24.2 million) in biomass subsidies from the state grid corporation of China. This was for biomass electricity generated through the Xintai Project from April 2023 to December 2024. The subsidies were granted under China’s policy to support renewable energy development. The group said on Tuesday that it plans to build artificial intelligence-powered thermal and steam pipeline networks and expand into renewable and alternative energy development. Shares of Sunpower closed Monday flat at S$0.23.

Dasin Retail Trust: Its subsidiary Zhongshan Yuanxin Commercial Property Management could face legal action if it fails to make full repayment of offshore liabilities within a five-day window starting from Aug 1, when it was issued a letter from an offshore facility agent. The letter said Zhongshan had, among other things, breached the terms of an intercreditor deed, by making an unauthorised loan repayment that resulted in its outstanding onshore loans falling below a minimum required amount. Units of Dasin Retail Trust have been suspended from trading.