Stocks to watch: CapitaLand Investment, Keppel DC Reit, Nam Cheong, Kore

[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Thursday (Apr 17).

CapitaLand Investment (CLI): The real estate investment manager announced on Thursday that it intends to launch its first real estate investment trust (Reit) in China, to be named CapitaLand Commercial C-Reit (CLCR). CLI applied to register the Reit with the China Securities Regulatory Commission, and applied to list the Reit on the Shanghai Stock Exchange. The listing would mark the first internationally sponsored retail China Reit and the first such China Reit by a Singapore-based company once approved. CLCR will be seeded with the mature assets CapitaMall Sky+ in Guangzhou and CapitaMall Yuhuating in Changsha, with a combined value of about 2.8 billion yuan (S$499.2 million) and a total gross floor area of 168,405 square metres. Shares of CapitaLand Investment closed 2 per cent or S$0.05 higher at S$2.54 on Wednesday.

Keppel DC Reit: The manager on Thursday posted a higher first-quarter distribution per unit of S$0.02503, up 14.2 per cent from S$0.02192 year on year on contributions from acquisitions and strong portfolio performance. Gross revenue for the quarter climbed 22.6 per cent to S$102.2 million from S$83.4 million previously. Units of Keppel DC Reit closed 3 per cent or S$0.06 higher at S$2.05 on Wednesday.