Stocks to watch: CapitaLand Investment, Keppel, Memiontec, ESR-Logos Reit

THE following companies saw new developments that may affect trading of their securities on Tuesday (Dec 20):

CapitaLand Investment (CLI) : The real estate investment manager has partnered Pruksa Holding (PSH) and Ally Logistic Property (ALP) to set up a S$1 billion logistics fund. The three companies have committed an initial investment of S$270 million to the CapitaLand Sea Logistics Fund, with an option to increase their investment up to S$540 million, and a target to achieve assets under management of S$1 billion. CLI will be the fund’s manager. Shares of CLI closed 0.8 per cent or S$0.03 higher at S$3.65 on Monday before the news.

Keppel Corporation : The group’s land unit Keppel Land will be divesting its entire stake in rental apartment operator Shanghai Fengwo Apartment Management for 783 million yuan (S$151 million). Separately, its offshore and marine unit has agreed to pay fines and damages amounting to some 343.6 million reais (S$88.1 million) as part of a leniency agreement reached with Brazilian authorities, in relation to corruption charges announced in 2017. Shares of Keppel Corp closed 0.3 per cent or S$0.02 lower at S$7.31 on Monday, before both announcements were made.