Stocks to watch: Keppel, CDL, CapitaLand China Trust, Oiltek, Kin Global

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Apr 23):

Keppel : The company on Thursday reported slightly lower year-on-year net profit for the first quarter ended March, as lower real estate contributions offset higher earnings from its infrastructure and connectivity segments. Overall net profit – when including its “non-core portfolio for divestment and discontinued operations” – was also lower, dragged down by fair value losses and lower monetisation gains from its non-core assets. The company did not give specific figures for net profit. Shares of Keppel closed 0.3 per cent or S$0.04 higher at S$12.03 on Wednesday.

City Developments Limited (CDL) : The three independent directors linked to last year’s boardroom spat between CDL’s executive chairman Kwek Leng Beng and his son, group CEO Sherman Kwek, have stepped down from the board of CDL’s hotel arm Millennium & Copthorne Hotels (M&C). CDL said on Wednesday that the resignations will allow the three individuals to focus on their responsibilities on its board and will not affect M&C’s operations or oversight. CDL shares ended Wednesday 0.6 per cent or S$0.05 lower at S$8.77, before the news.