Stocks to watch: Keppel, CapitaLand Investment, Keppel Reit

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Oct 17): 

Keppel : The global asset manager is set to revive construction for its stalled Saigon Centre project in late 2026. Work on the mixed-use development in Ho Chi Minh City’s central business district has been delayed for decades due to the complex process of transferring land from the state. The project was valued at about S$433.6 million when Keppel released its first-quarter results. It is expected to be completed in the next four to five years. Shares of Keppel ended Thursday 1.5 per cent or S$0.14 higher at S$9.44, after the news.

CapitaLand Investment (CLI) : The real estate asset manager’s wholly owned lodging business unit Ascott on Friday announced that it has signed seven new properties in Vienna, Austria, and in Seville, Spain through franchise and management agreements. The new signings bring Ascott’s European portfolio to 64 properties and almost 8,500 units. Globally, the group has more than 1,000 properties and 175,000 units. Ascott’s Austrian partnership is with property developer VIE Trust Real Estate Group; its Spain partnership is with Forty Management. Shares of CLI ended Thursday 0.4 per cent or S$0.01 down at S$2.65.

Keppel Reit : The trading in about 115 million new units in the real estate investment trust is set to begin on Friday at 9 am. The new units were issued in a private placement to raise S$113 million. Proceeds from this will be used to finance the acquisition of a 75 per cent stake in the Top Ryde Shopping Centre in Sydney, Australia. Units of Keppel Reit rose 3.1 per cent or S$0.03 on Thursday to close at S$1.01.