Stocks to watch: Nio, Keppel Reit, Mandarin Oriental
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jan 2):
Nio : The Chinese electric vehicle (EV) maker said on Thursday that it had new record-high monthly and quarterly deliveries. December deliveries rose 54.6 per cent year on year; there was a 71.7 per cent quarter-on-quarter increase in deliveries in the three months ended December. Cumulative deliveries for the year reached 997,592. Shares of Nio fell 2 per cent to close US$0.11 lower at US$5.36 on Wednesday.
Keppel Reit : The manager of the real estate investment trust (Reit), in a transcript released on Friday, defended its acquisition of an additional one-third stake in MBFC Tower 3 at a dialogue with the Securities Investors Association (Singapore). Chief executive officer Chua Hsien Yang on Tuesday (Dec 30) emphasised the asset’s resilience and upside potential, noting that current passing rents are about 10 per cent below the Marina Bay average and positioned for growth as interest rates stabilise. The manager also committed to converting the holding entity into a Limited Liability Partnership to unlock S$8 million to S$10 million in annual tax savings and signalled a shift towards divestments in 2026 to lower aggregate leverage. Units of Keppel Reit rose 0.5 per cent to close S$0.005 higher at S$0.975 on Wednesday.
Mandarin Oriental : The hotel group on Wednesday said that it will pay out a special dividend from the sale of parts of One Causeway Bay to its shareholders on Jan 22. The dividend, at US$0.60 a share, follows the completion of the sale of the Grade-A office and retail Hong Kong skyscraper. The completion of the sale also satisfies a condition for the acquisition of Mandarin Oriental by a Jardine Matheson unit. Shares of Mandarin Oriental rose 0.6 per cent to close S$0.02 higher at S$3.31 on Wednesday, before the update.
Trading halt: Digital Core Reit called for a trading halt on Friday, pending an announcement. Its shares rose 2 per cent to close US$0.01 higher at US$0.51 on Wednesday.
