Stocks to watch: Hotel Properties, Keppel Reit

THE following companies saw new developments that may affect trading of their securities on Monday (Apr 11):

Hotel Properties Ltd (HPL): The hospitality company on Saturday said it has sold its entire interest in HPL (Olympia) and Maple Olympia Propco 4. Maple owns the 405-room Hilton London Olympia while HPL (Olympia) rents and operates the hotel. The £40.8 million (S$72 million) cash sale will reap a gain of S$29 million for the group. Shares of Hotel Properties ended Friday at S$3.57 on a cum dividend basis, up 0.3 per cent or S$0.01.

Keppel Reit: Long-time Keppel executive Tan Swee Yiow will assume chairmanship of the real estate investment trust's manager from Jun 1, taking over from Penny Goh, who retires on May 31, the company said on Friday. Tan was the first chief executive of Keppel Reit's manager from 2006 to 2009, and again from 2017 to 2018. Units of Keppel Reit closed at S$1.22 on Friday, down 1.6 per cent, before the announcement.