Stocks to watch: EC World Reit, Sembmarine, Keppel Corp

THE following companies saw new developments that may affect trading of their securities on Tuesday (Dec 27):

EC World Real Estate Investment Trust (EC World Reit): Following a delay in the planned divestment of the Reit’s assets, EC World Reit’s manager on Monday said it is in discussions with creditors over a debt repayment plan. The proposed plan will see the Reit’s sponsor finance part of a mandatory repayment due Dec 31, with the remainder to be deferred to the first quarter of 2023. Units of EC World Reit closed last Friday at S$0.455, down 1.1 per cent or S$0.005.

Sembcorp Marine (Sembmarine), Keppel Corporation : Sembmarine on Friday said it is working on convening an extraordinary general meeting (EGM) on its proposed merger with Keppel Offshore & Marine. Submissions have been made to the authorities on the proposed merger with the Keppel Corp unit, and the EGM is expected to take place in January 2023. Prior to the announcement, shares of Sembmarine closed $0.001 or 0.7 per cent lower at S$0.139, while Keppel Corp ended S$0.04 or 0.5 per cent down at S$7.36.