Stocks to watch: Keppel, CDL, SingPost, Sabana Reit
THE following companies saw new developments that may affect trading of their securities on Monday (Oct 21):
Keppel : The asset manager on Monday announced a deal with Woodside Energy, Australia’s largest oil and gas developer, for the supply and purchase of liquid hydrogen aimed at powering its data centres in Singapore. The potential liquid hydrogen supply is expected to form part of a larger, long-term utility-scale lower carbon power portfolio that Keppel is building to power its assets. Keppel shares rose 0.6 per cent or S$0.04 to S$6.47 on Friday before the announcement.
City Developments Ltd (CDL) : The property giant’s residential project Norwood Grand sold 292 or 84 per cent of its 348 units over its launch weekend at an average selling price of S$2,067 per square foot, said CDL on Sunday. Market watchers said the project’s strong take-up could be due to pent-up demand as buyers have waited 12 years for a new private residential project launch in Woodlands since the last one in 2012. Others said its robust sales may have positive spillover effects on resale prices of the area’s private residential properties. CDL shares closed 1 per cent or S$0.05 higher at S$5.29 on Friday before the announcement.
Singapore Post (SingPost) : SingPost suppliers will receive support for their sustainability journey through a new programme to help small and medium-sized enterprise (SME) suppliers meet growing climate-related reporting requirements. It aims to address an expertise gap among SME suppliers in providing accurate carbon emissions data, a key climate reporting component, as all Singapore-listed companies must make climate-related disclosures from Jan 1, 2025. The four organisations behind the programme – the Singapore Business Federation, SingPost, EY, and OCBC – formalised their collaboration through a memorandum of understanding signed at SingPost Centre on Friday. SingPost shares closed 1.8 per cent or S$0.01 down at S$0.545 on Friday before the announcement.
Sabana Real Estate Investment Trust (Reit) : Sabana Reit’s overall portfolio occupancy for the third quarter ended Sep 30 stood at 84.9 per cent, up from 78.8 per cent in the previous quarter. On Friday, the Reit’s manager attributed the improvement to the signing of new leases covering 313,953 square feet (sq ft) and the renewal of 15,974 sq ft of leases. Its aggregate leverage stood at 37 per cent with an interest coverage ratio of 3.2 times. Units of Sabana Reit closed flat at S$0.385 on Friday, after the lifting of a trading halt.
