Stocks to watch: Keppel Corp, Far East Hospitality Trust, Sembmarine, Sembcorp Industries, Rex

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

Keppel Corporation : The group’s Philippines-listed subsidiary will divest a remaining 50 per cent stake in The Podium West Tower and The Podium Mall in the Philippines for around 8 billion pesos (S$195 million). The buyer is BDO Unibank, which holds the other 50 per cent, said the group on Monday. Keppel shares closed Friday 1.1 per cent or S$0.06 lower at S$5.40.

Far East Hospitality Trust (FEHT), City Developments Limited (CDL): The stapled group has received a full S$18 million incentive payout from its divestment of Central Square to CDL after meeting certain conditions. On Monday, FEHT’s manager said it now expects to obtain a gain of S$130.3 million from the divestment, as opposed to the earlier estimated S$112 million when the deal was first announced in December 2021. Stapled securities of FEHT ended at S$0.59 on Friday, while shares of CDL closed down 0.7 per cent or S$0.05 at S$7.16.