Stocks to watch: DBS, LHN, shopper360, Keppel, Singapore Paincare Holdings

THE following companies saw new developments that may affect trading of their securities on Wednesday:

DBS: The largest lender in South-east Asia on Tuesday said it will acquire a 13 per cent stake in Shenzhen Rural Commercial Bank for 5.29 billion yuan (S$1.08 billion), in a move that will make it the largest shareholder of the Chinese bank. Shares of DBS closed flat at S$29.02 on Tuesday, before the announcement.

Keppel Data Centre (DC) Reit: The local data centre market on Tuesday posted a distribution per unit (DPU) of 2.462 Singapore cents for the first quarter, up 18.1 per cent from Q1 last year, buoyed by accretive acquisitions and asset enhancements in 2020. Units of Keppel DC Reit closed at S$2.69 on Tuesday prior to the announcement, down 0.4 per cent or S$0.01.

LHN: The real estate management services provider expects a higher net profit before tax of "no less than approximately S$17 million" for H1 2021, an estimated 4.5 times increase from the year-ago period, the company said on Tuesday in a preliminary update on the group's unaudited financial results. Its shares closed flat at 19.8 Singapore cents on Tuesday, before the announcement.

shopper360: The Malaysian marketing group has proposed an investment of RM2.4 million (S$781,000) for an 8 per cent stake in PB Grocery Group, the owner of a Malaysian online grocery platform. Shares of Shopper360 last traded at 10.7 Singapore cents on Monday.

Keppel Corporation: A wholly-owned subsidiary of Keppel Telecommunications & Transportation has signed a binding term sheet with Philippine-listed Converge Information & Communications Technology Solutions to grant capacity on the Bifrost Cable System, a subsea cable system which directly connects Singapore to the west coast of North America. Shares of Keppel closed at S$5.45 on Tuesday, down S$0.07 or 1.3 per cent.

Singapore Paincare Holdings: The Catalist-listed paincare medical services group has entered into a conditional sale and purchase agreement to acquire Medihealth Bishan Clinic & Surgery from Healthgivers for a total consideration of S$585,000. The acquisition will be done through Singapore Paincare's newly incorporated, 60 per cent-owned subsidiary Medihealth Clinic. The counter closed flat at 19.8 Singapore cents on Tuesday, before the announcement.

Far East Hospitality Trust: The real estate investment trust has inked a new partnership in Indonesia as part of a larger plan to increase its footprint within the region. According to the group's announcement on Tuesday, it has teamed up with Artotel Group, an Indonesian boutique hospitality and lifestyle group, in a strategic alliance agreement. Units of the stapled security ended 1.6 per cent or S$0.01 higher at S$0.64 on Tuesday, after the announcement.