, effective Thursday, amid a reorganisation of its asset management team. The real estate investment trust’s counter name on the Singapore Exchange will be changed to KepPacOakReitUSD starting from Sept 10. After the reorganisation, the Reit will sign a new outsourcing management agreement with the new US asset manager, Pacific Oak Capital Advisors, which will employ the team that currently provides asset management services under the existing outsourcing agreement.
Shares of Fortress Minerals last traded at S$0.23 on Aug 28.to S$126,000 for the first quarter ended July 31. Earnings per share was flat at 0.05 Singapore cent. Total revenue fell 4.87 per cent mainly due to lower sales in North Asia, although total operating expenses shrank 5.1 per cent amid lower staff costs, marketing and distribution costs, and foreign exchange costs. Shares of Stamford Tyres closed flat at S$0.24 on Thursday, before the results were released.
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