Stocks to watch: Keppel, CapitaLand China Trust, Frasers Property

THE following companies saw new developments that may affect trading of their securities on Friday (Oct 13):

Keppel Corporation : Its private fund is acquiring two properties in Australia for A$198 million (S$175 million). On Thursday, the group said it intends to lease out the properties to educational institutions. The acquisition is expected to bring Keppel’s portfolio of assets in Australia to A$4.8 billion upon completion. Shares of Keppel Corporation closed 1.5 per cent or S$0.10 higher at S$6.76, before the news.

CapitaLand China Trust (CLCT): Its subsidiary has priced 600 million yuan (S$112 million) in free-trade zone offshore yuan bonds at 3.8 per cent per annum. This marks CLCT’s first issuance of yuan-denominated bonds within the China (Shanghai) Pilot Free Trade Zone, said its manager on Friday. Units of the trust closed on Thursday S$0.01 or 1.1 per cent higher at S$0.88.

Frasers Property : The property developer guided for a significant drop in attributable profit for FY2023 due to fair-value losses on some of its investment properties, although the group expects to remain in the black. It is slated to release its unaudited financial results for the full year on Nov 10. Prior to the announcement on Thursday, shares of Frasers Property closed flat at S$0.81.