Stocks to watch: Keppel, CapitaLand Ascendas Reit, YZJ Financial, KIT, Boustead, Cordlife

[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Tuesday (Apr 1).

Keppel : The global asset manager, through its real estate division, has divested its entire 42 per cent stake in South Rach Chiec – the developer of the Palm City development in Ho Chi Minh City – to Vietnamese real estate company Gateway Thu Thiem, unlocking total cash proceeds of 2.6 trillion dong (S$136.6 million). Completed in March, the divestment results in a net divestment profit of about S$55 million for Keppel, it said in a statement on Tuesday. Shares of Keppel closed flat at S$6.90 on Friday.

CapitaLand Ascendas Reit (Clar) : Its manager on Tuesday announced CapitaLand Group’s completion of the S$883 million redevelopment of 1 Science Park Drive, a property situated in Geneo, the life sciences and innovation cluster in Singapore Science Park (SSP). With its completion, all five buildings in the 180,600 square metre Geneo cluster are operationally ready, said the manager. The redeveloped property offers business space, wet-lab ready workspace, as well as retail and food and beverage amenities. Its redevelopment boosts the quality of Clar’s business space and life science portfolio, and enlarges its customer base in the life sciences and technology industries, said William Tay, chief executive officer of Clar’s manager. Units of Clar closed on Friday S$0.01 or 0.4 per cent higher at S$2.67.