Stocks to watch: Keppel, Keppel DC Reit, mm2 Asia, China Medical System Holdings, Southern Alliance Mining
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Sep 23):
Keppel : The infrastructure division of asset manager Keppel and Keppel Asia Infrastructure Fund (Kaif) announced on Tuesday a joint divestment of their combined 80 per cent interest in 800 Super Holdings. The proposed transaction marks Kaif’s first sale and values 800 Super at over S$600 million, based on 100 per cent of the waste management group’s enterprise value. Kaif holds a 48 per cent stake in 800 Super, while Keppel holds a 32 per cent interest. Both parties will receive their share of the consideration in cash. Shares of Keppel closed flat on Monday at S$8.82 before the news.
Keppel DC Reit : The manager of the real estate investment trust announced on Monday that it has entered into an agreement to acquire all the interest in the freehold Tokyo Data Centre 3 for 82.1 billion yen (S$707 million). Keppel DC Reit will hold a 98.5 per cent interest in the data centre, while Keppel will hold the remainder. Keppel DC Reit also launched a preferential offering to raise gross proceeds of approximately S$404.5 million, with proceeds to be partially used to fund the acquisition. Shares of Keppel DC Reit closed flat at S$2.36 on Monday, before the announcement.
mm2 Asia : The company’s two Malaysian subsidiaries, MM2 Screen Management and MM2 Star Screen, will undergo voluntary liquidation as negotiations with their creditors have failed, the company said on Tuesday. Additionally, its other subsidiary mm2 Entertainment on Sep 15 received a S$97,500 payment demand from solicitors representing Super Bean International, for sums allegedly owed under an investment agreement dated Nov 30, 2023. The sum was due for repayment on Monday and mm2 Entertainment is currently in negotiations with the claimant over it. The counter ended Monday flat at S$0.002, before the announcement.
China Medical System Holdings : The pharmaceutical company on Monday announced that it obtained exclusive commercialisation rights for two products – an injection for tetanus immunisation and for suspected rabies exposure. The terms of the commercialisation agreement run for 10 years and will automatically renew for successive decade-long periods upon expiration. The counter finished Monday 2.8 per cent or S$0.07 lower at S$2.43.
Southern Alliance Mining : The group expects to report a higher net loss for the full year ended July 2025 compared to the last financial year, according to its profit guidance issued on Monday. This is mainly due to a lower average realised selling price amid continued softening of iron ore prices and several non-cash impairment losses. The company will announce its unaudited financial results for FY2025 by Sep 29, 2025. The counter finished Monday flat at S$0.51.
