Stocks to watch: Keppel, Genting Singapore, Silverlake Axis

THE following companies saw new developments that may affect trading of their securities on Tuesday (Nov 19):

Keppel : Keppel will take over 13 legacy rigs held by Rigco following a selective capital reduction exercise, which will cancel all of Rigco’s shares that are not held by a Keppel unit as at the date of the announcement. On Tuesday, the group also said it plans to establish a private fund to own and manage the legacy rigs, as well as attract third-party capital. Shares of Keppel closed 0.3 per cent or S$0.02 higher at S$6.58 on Monday.

Genting Singapore : The casino licence of Resorts World Sentosa, an integrated resort operated by Genting Singapore, has been renewed by the authorities for another two years starting from Feb 6 next year. The integrated resort also announced plans last Friday to complete a major expansion by 2030. Shares of Genting Singapore closed flat on Monday at S$0.775, before the announcement.