Stocks to watch: Keppel Corp, UOB, Sembmarine, IReit Global

THE following companies saw new developments that may affect trading of their securities on Monday (Apr 24):

Keppel Corporation : Its Australian associates have filed civil claim proceedings for up to A$66.5 million (S$59.4 million) against three of Keppel’s subsidiaries regarding the group’s solar farm in Queensland, Australia. Keppel on Monday said its subsidiaries intend to “vigorously defend” the claim, and it does not expect the proceedings to have a material impact on the group’s operations and overall financial performance. Shares of Keppel closed on Friday S$0.19 or 3 per cent higher at S$6.46.

UOB : The bank on Friday said its liquidity position is “very flush”, putting it in a comfortable position amid recent turmoil in the global banking industry. While UOB did not disclose the amount of its liquidity buffer, the bank assured that it had a lot of excess liquidity and that its capital ratios were well above regulatory minimums. Shares of UOB closed 0.1 per cent or S$0.03 lower at S$29.69 before the announcement.

Sembcorp Marine (Sembmarine): The company’s wholly-owned subsidiary, Keppel FELS, received an arbitral award in its arbitration against an Awilco Drilling unit, said Sembmarine on Monday. Keppel FELS had issued a notice of termination in 2022 after Awilco defaulted on an instalment payment for the construction of a rig. Shares of Sembmarine closed flat at S$0.123 on Friday.

IReit Global : The Europe-focused real estate investment trust (Reit) on Monday announced that it has secured a 15-year lease with a German federal government body for about 25 per cent of Darmstadt Campus. The anchor lease will bring the Reit’s portfolio occupancy from 88.3 per cent to 90.3 per cent as at Dec 31, 2022, on a pro forma basis. Units of the Reit closed flat at S$0.50 on Friday.