Stocks to watch: Keppel Reit, Singtel, SPH, Q&M Dental

THE following companies saw new developments that may affect trading of their securities on Tuesday (Mar 8):

Keppel Reit: K71U Its manager said it has received, from RBC Investor Services Trust Singapore, a letter of intention to retire as trustee of the real estate investment trust on Tuesday. RBC is intending to cease provision of trustee services for all authorised collective investment schemes in Singapore. Units of Keppel Reit closed at S$1.16 on Monday, down S$0.02 or 1.7 per cent.

Singapore Telecommunications (Singtel): Z74 Its technology services arm NCS is acquiring Australian IT services company The Dialog Group for A$325 million (S$328 million). In its bourse filing of the acquisition on Monday, Singtel noted that Dialog's net asset value as at Jun 30, 2021 was A$43 million. Singtel shares closed flat at S$2.51 on Monday, after the announcement was made.

Singapore Press Holdings (SPH): T39 The company is "unable to comment" on whether it will declare a special dividend in relation to the divestment of sgCarMart to Toyota. This was in response to shareholder queries in a Monday bourse filing ahead of a virtual Investors' Day on Tuesday relating to the proposed acquisition of SPH by consortium Cuscaden Peak. Shares of SPH closed unchanged at S$2.34 on Monday, before the announcement.

Q&M Dental Group: QC7 The dental service provider's chief executive officer Dr Ng Chin Siau entered into a conditional sale and purchase agreement on Monday to take a 29 per cent stake in restaurant operator No Signboard Holdings for a total consideration of S$1. As a condition, Dr Ng will extend an interest-free unsecured loan of S$2.6 million to the company. Q&M closed S$0.025 or 4.6 per cent lower at S$0.52 on Monday, before the announcement, while shares of Catalist-listed No Signboard are suspended.