[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (May 5).
CapitaLand Integrated Commercial Trust (CICT): The manager of the trust on Friday announced the sale of its stake in the serviced residence component of CapitaSpring. CICT owns a 45 per cent interest in Glory SR Trust, which holds the serviced residence component of the integrated development. The manager did not disclose the purchasers, but described them as an “unrelated third party”. Located in the Central Business District, CapitaSpring comprises 299 serviced residence units, as well as office and retail spaces. The agreed property value of the serviced residence component between the buyers and sellers is S$280 million, making CICT’s stake worth S$126 million. However, the trust’s share of the sale consideration is estimated to be S$37.8 million, after factoring in the repayment of existing unitholder loans owed by Glory SR Trust, as well as completion adjustments. Units of CICT closed flat at S$2.15 on Friday.
Japan Foods: The group on Monday announced that it expects to report a substantial net loss for FY2025, largely due to weak sales amid market saturation and challenging macroeconomic conditions; higher selling and distribution expenses as a result of higher manpower costs, utilities expenses, and rental and depreciation charges; and impairment loss relating to non-performing outlets and write-off of fixed assets relating to the closure of certain outlets. This is based on a preliminary review of its unaudited management accounts. The counter closed flat at S$0.27 on Friday.
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