Stocks to watch: Keppel, Cromwell E-Reit, Accrelist

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jul 3):

Keppel : It has merged two indirect wholly owned subsidiaries, Keppel Fund Management (KFM) and Keppel Capital Alternative Asset, to streamline the company’s organisational structure. Both subsidiaries are licensed fund managers, and KFM will continue as a surviving entity. Shares of Keppel closed at S$6.36 on Tuesday, down 1.2 per cent or S$0.08, before the announcement.

Cromwell European Real Estate Investment Trust ( Cromwell E-Reit ): The Reit’s portfolio valuations rose 0.6 per cent, or 13.1 million euros (S$19.1 million), as at end-June 2024 on a like-for-like basis, compared with valuations as at end-2023. Net valuation adjustment, however, is expected to be relatively flat after accounting for expected capital expenditure over the latest half-year period, said its manager on Wednesday. Units of Cromwell E-Reit ended Tuesday 0.01 euro or 0.7 per cent lower at 1.39 euros. 

Accrelist : The Catalist-listed company’s 95 per cent-owned subsidiary Accrelist Medical Aesthetics (Hainan) is planning to acquire a 60 per cent equity stake in a health management company, Accrelist Nanjing, for 1.5 million yuan (S$280,000). The acquisition will be funded entirely through the subsidiary’s internally available, disposable resources, including loans from Accrelist, said the company on Wednesday. Shares of Accrelist were untraded on Tuesday. They closed flat at S$0.039 on Monday.