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.

Silverlake Axis : The enterprise technology company will soon be delisted from the mainboard of the Singapore Exchange. This follows the close of its voluntary unconditional offer on Monday. Less than 10 per cent of Silverlake Axis’ shares are now held by the public, and trading of the company’s shares will be suspended. Shares of Silverlake closed at $0.37, up 1.4 per cent or S$0.05, before the news.

Trading halt: Keppel DC Reit requested a trading halt on Tuesday morning, pending the release of announcements. Its units ended the previous day 0.5 per cent or S$0.01 lower at S$2.19.