Stocks to watch: Cosco Shipping, Keppel DC Reit, Sembcorp Industries, Cromwell E-Reit

THE following companies saw developments that may affect the trading of their securities on Wednesday (Dec 18):

Cosco Shipping : The logistics management service provider began work on Phase Two of its logistics hub on Jurong Island on Tuesday. On completion, the hub’s capacity will be nearly double its present size, with an additional 2.5 hectares of land and about 62,500 square metres (sq m) of built-up area. The expanded portion of the facility aims to address the growing demand for specialised logistics services serving the petrochemical and chemical sectors on the island, which houses Singapore’s major petrochemical hub. Shares of Cosco Shipping closed 0.8 per cent or S$0.001 higher at S$0.135, before the announcement.

Keppel DC Real Estate Investment Trust (Reit) : Its manager announced on Wednesday that 148.4 million new preferential offering units have been issued at S$2.03 apiece, bringing the total number of units in issue to 2.2 billion. The new units will begin trading on the mainboard of the Singapore Exchange at 9 am on Wednesday. Units of Keppel DC Reit ended on Tuesday 0.5 per cent or S$0.01 higher at S$2.15.

Sembcorp Industries : The company’s renewables subsidiary Sembcorp Green Infra was awarded a build-own-operate project comprising a 150 megawatt (MW) solar photovoltaic project and a 300 MW-hour battery energy storage system. This represents Sembcorp’s first solar and Bess hybrid project in India, said the group on Wednesday. Shares of the group closed on Tuesday S$0.09 or 1.6 per cent down at S$5.40.

Cromwell European Reit (Cromwell E-Reit) : The Reit’s manager said it signed or renewed five leases in the fourth quarter of this year, totalling more than 78,000 sq m. On Wednesday, it said the signings mean the Reit is on track in keeping its portfolio occupancy rate at above 93 per cent for fiscal 2024. The leases are with new and existing tenants across its logistics and office portfolio in the Netherlands, United Kingdom, Germany and Denmark. Its units closed on Tuesday 0.01 euro or 0.6 per cent lower at 1.58 euros.