Stocks to watch: SGX, FEHT, Wing Tai, PropNex, First Reit, QAF
THE following companies saw new developments that may affect trading of their securities on Wednesday (Feb 12).
Singapore Exchange (SGX): The total securities market turnover value on the SGX increased 1 per cent year on year to S$20.8 billion in January, with the Straits Times Index hitting a 17-year high and exchange-traded funds’ assets under management rising to a record level. January’s total market turnover volume fell 31 per cent to 19.1 billion shares. Shares of SGX rose 0.7 per cent or S$0.09 to S$13.79 on Tuesday, before the news.
Far East Hospitality Trust (FEHT): Its manager on Wednesday posted a distribution per stapled security of S$0.0208 for the second half ended December, down 4.1 per cent from S$0.0217 in the previous corresponding period. Distribution to stapled securityholders fell 3.6 per cent on the year to S$41.9 million, mainly due to higher finance costs and change in the proportion of the manager’s fee. Stapled securities of FEHT ended Tuesday 0.8 per cent or S$0.005 higher at S$0.605.
Wing Tai Holdings: The property and retail company’s net profit continued its decline in the first half of its 2025 fiscal year due to lower contributions from its property assets, after selling one of its condominium projects. The company also incurred higher sales and finance costs for the six-month period ended Dec 31, 2024. Shares of Wing Tai declined 0.8 per cent or S$0.01 to close at S$1.21 on Tuesday, before the announcement.
PropNex: The real estate services group said that its wholly owned subsidiary PropNex Realty, has been named as one of three co-defendants in a lawsuit. The suit was filed by a claimant seeking damages from PropNext Realty for liability arising from the alleged misconduct of one of its salespersons and his purported advice. The group said that it has evaluated the basis and merits of the suit and intends to defend it. Shares of PropNex closed at S$1.12, down 0.9 per cent or S$0.01, before the news.
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