Stocks to watch: Keppel, Straits Trading, Manulife US Reit, Low Keng Huat

THE following companies saw new developments that may affect trading of their securities on Thursday (Sep 15):

Keppel Corporation : The mainboard-listed group said in a bourse update on Wednesday that an entity under Keppel Offshore and Marine had been granted a temporary court order to prohibit payment on a US$126.6 million standby letter of credit to a customer amid a claim involving a rig contract. Shares of Keppel were 2.3 per cent lower, or S$0.17, at S$7.35 when the market closed on Wednesday.

Straits Trading : It said on Thursday that it would proceed with its proposed special dividend after receiving an irrevocable undertaking from a shareholder with sufficient voting rights to pass the extraordinary general meeting resolution for the proposed distribution. This undertaking would allow the company to ratify shareholders’ approval at a later date, but no later than the next annual general meeting. Straits Trading closed 0.6 per cent or S$0.02 lower at S$3.18 on Wednesday.