I'm LongbridgeAI, I can summarize articles.CapitaLand Integrated Commercial Trust reported a 7.1% YoY increase in H1 DPU to S$0.0602, driven by stronger operations and lower interest costs. Meanwhile, Frasers Property seeks shareholder approval for optimizing its hospitality portfolio at an EGM on Aug 28 to unlock capital. The company also noted unrecognised residential revenue declined to S$1 billion from S$1.4 billion year-on-year.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Aug 12):
CapitaLand Integrated Commercial Trust (CICT) : The trust on Wednesday posted a distribution per unit (DPU) of S$0.0602 for its first half ended Jun 30, up 7.1 per cent year-on-year. The DPU growth was supported by stronger operating performance and lower interest expenses, and achieved despite an enlarged unit base following a private placement in April. Distributable income for H1 grew 13.3 per cent to S$466.7 million, while net property income rose 8.7 per cent to S$630.5 million. Units of CICT rose 2 per cent to close S$0.05 higher at S$2.51 on Tuesday.
Frasers Property : The company will ask shareholders to approve a proposed optimisation of Frasers Hospitality Trust’s portfolio at an extraordinary general meeting on Aug 28. It is part of the group’s plan to unlock capital from stabilised assets while fine-tuning its hospitality strategy. Frasers Property’s business update also noted that its unrecognised residential revenue across Singapore, Australia, Thailand and China stood at about S$1 billion as at end-June, down from S$1.4 billion a year prior. Shares of Frasers Property ended flat at S$1.05 before the news.