Stocks to watch: CapitaLand Investment, Keppel Corp, Genting Singapore, Keppel DC Reit
Mia Pei
THE following companies saw new developments that may affect trading of their securities on Monday (Dec 11):
CapitaLand Investment : In a profit guidance on Friday, the real estate investment manager said it expects fair value losses on its portfolio of investment properties and a decreased net profit for FY2023 on the year. In November, the manager had identified dampening macro-economic sentiment together with persistent interest rate hikes and geopolitical tensions as challenges posed to its business. The counter closed flat at S$3.10 on Friday before the announcement.
Keppel Corporation : The group’s infrastructure division and AM Green, which is wholly owned by the founders of Hyderabad-based Greenko, are teaming up to explore opportunities in producing biogenic carbon-based sustainable fuels in South-east Asia and the Middle East. Such fuels would include bio and green menthol, second-generation ethanol and sustainable aviation fuel, announced Keppel on Monday. The counter ended Friday up S$0.07 or 1 per cent at S$6.77.
Genting Singapore : The Straits Times Index constituent company’s Resorts World Sentosa was fined S$2.25 million for lapses in performing customer due diligence measures for certain transactions for three years from December 2016, said the Gambling Regulatory Authority in a media statement on Friday. Genting Singapore’s shares closed 2.6 per cent, or S$0.025, higher at S$0.98 on Friday, before the penalties were announced.
Keppel DC Real Estate Investment Trust : The Reit issued S$90 million of floating rate notes due 2026, priced at 100 per cent of the principal amount and in denominations of S$250,000. Interest on the debt will be payable quarterly. The counter closed on Friday unchanged at S$1.97 before the announcement.
Banyan Tree : The hospitality company is decoupling from joint ventures (JVs) with the subsidiaries of China’s second-largest developer by sales, China Vanke. This would involve Banyan Tree acquiring the shares of two JVs from China Vanke units for 480 million yuan (S$90.2 million) and selling its shares in another JV for 30 million yuan. Some 425 million yuan will be paid in cash with internal resources, while the remaining amount will be offset by the proceeds from the sale of its stake in the third JV, together with the receivables. Shares of Banyan Tree closed flat at S$0.36 on Friday, before the news.
Cordlife Group : The consumer healthcare company said its board did not announce the issue of irregular temperatures in one of its tanks in February, as it believed there would be “no material impact on the financial performance of the group” for FY2022 and FY2023. This announcement on Sunday was in response to queries from the Singapore Exchange on why its board did not make any earlier announcements on both the temperature irregularities and audits conducted by the Ministry of Health. Shares of Cordlife closed Friday up 1.7 per cent, or S$0.005, at S$0.30 on Friday.
