Stocks to watch: Nio, Keppel Infrastructure Trust, Centurion, Boustead, mm2 Asia

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Sep 3):

Nio: The electric vehicle maker’s net loss deepened by 0.3 per cent on the year to 5.1 billion yuan (S$928.4 million) for its second quarter of 2025. The wider loss came even as its revenue for the three months rose 9 per cent to 19 billion yuan and its vehicle sales increased 2.9 per cent to 16.1 billion yuan. The counter finished Tuesday 1.6 per cent or US$0.11 lower at US$6.63.

Keppel Infrastructure Trust (KIT): The business trust on Tuesday obtained a loan facility with a principal amount of S$75 million, according to a bourse filing, which did not indicate what it would be used for. The terms and conditions dictate that the trustee-manager must pay all outstanding loans under the facility in the event that it resigns, retires or ceases to be trustee-manager. Units of KIT ended at S$0.45, 1.1 per cent or S$0.005 higher, before the announcement. 

Centurion: A subsidiary of the dormitory operator has acquired a peer in Johor Bahru, Centurion said on Tuesday. Centurion Dormitories bought all the shares in Malaysia’s Harum Megah for RM110.8 million (S$33.2 million). The company’s Malaysian portfolio will thus expand to 35,610 beds – a 25 per cent increase in total bed capacity. Shares of Centurion closed flat at S$1.73 before the announcement.

Boustead Singapore: The engineering and technology group said on Tuesday that it applied to list a real estate investment trust (Reit) on the Singapore Exchange. The Reit’s portfolio will include its Singapore logistics and industrial real estate assets and other properties not held by Boustead Singapore. Its application is on behalf of UIB, the proposed sponsor of the Reit, in which the group has 20 per cent interest through Boustead Projects. The counter closed at S$1.49 before the announcement, up S$0.02 or 1.4 per cent.

mm2 Asia: Cathay Cineplexes’ owner said on Wednesday that it has entered into a deed of amendment with its bondholder, previously identified as Tan Boon Seng, to extend the maturity of a S$54 million bond by six years. The entertainment group said in July that the move would allow it to avoid imminent default, while paying a higher interest at 6 per cent per annum, up from 5 per cent. On Monday, it announced that it was winding up cinema chain Cathay Cineplexes after talks with creditors fell through. Shares of mm2 Asia closed flat at S$0.003 on Tuesday.