Stocks to watch: CDL, Keppel Pacific Oak US Reit, Cordlife
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THE following companies saw new developments that may affect trading of their securities on Wednesday (Apr 17):
City Developments Ltd (CDL): Its associate company Cityview Place sold 65 units at The Residences at W Sentosa Cove Singapore in a week, which is more than the 58 units put on the market on Apr 9. On Tuesday, it was reported that the units fetched an average selling price of S$1,780 per square foot. Shares of CDL closed S$0.09 or 1.6 per cent lower at S$5.61, prior to the news.
Keppel Pacific Oak US Reit (Kore): The office-focused US real estate investment trust’s distributable income for the first quarter ended March fell 8.8 per cent to US$11.9 million from US$13.1 million in Q1 FY2023. Its manager on Wednesday said this was mainly due to increased financing costs resulting from higher interest rates. Kore units ended Tuesday US$0.004 or 2.8 per cent lower at US$0.14.
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