Stocks to watch: Keppel, Sats, LHN

THE following companies saw new developments that may affect trading of their securities on Thursday (Oct 13): 

Keppel : It said on Wednesday that it will speed up the delivery of three out of five undelivered jackup rigs to Borr Drilling. The rigs will be delivered with full payments on delivery including holding costs and cost cover, amounting to at least US$352 million in aggregate, out of which at least US$158 million will be payable in 2022. Shares of Keppel fell 2 per cent or S$0.14 to close at S$6.81 on Wednesday, before the news.

Sats : Fullerton Fund Management, a subsidiary of Singapore investment company Temasek, had sold 1.2 million of its shares in Sats for some S$3.5 million on Oct 7. In a bourse filing on Wednesday, investment manager Tembusu Capital said this would reduce its total stake in the inflight caterer and ground handler – held through Venezio Investments, Singapore Airlines and Fullerton – from about 40 per cent to 39.9 per cent. Shares of Sats closed S$0.08 or 2.7 per cent lower at S$2.85, before the announcement.