Stocks to watch: Frasers Property, Keppel DC Reit, Mapletree Industrial Trust, SingLand, Olam

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Sep 1):

Frasers Property : The property developer, investor and operator on Monday said it acquired Cuppage Terrace – a cluster of 17 conservation shophouses in the Orchard Road area – for an agreed property value of S$175 million. Cuppage Terrace has a total gross floor area of 34,678 square feet, excluding the outdoor refreshment area, and 62 years left on its 99-year lease. Frasers Property shares ended Monday at S$1.02, up 1 per cent or S$0.01, before the news.

Keppel DC Reit : The real estate investment trust’s (Reit) manager, along with Keppel, said on Tuesday that the Reit will acquire two freehold, hyperscale fully fitted data centres in Tokyo for US$1.2 billion. The Reit also plans to raise at least S$600 million through a private placement on Sep 10. It intends to declare an advanced distribution of the distributable income between Jul 10 and Sep 9, estimated to be between S$0.02241 and S$0.02281. Units of Keppel DC Reit closed flat at S$2.20 on Monday before the news, and prior to a trading halt before market open on Tuesday.