Stocks to watch: Keppel Reit, Boustead Singapore, GS Holdings, Metech

THE following companies saw new developments that may affect trading of their securities on Wednesday (Oct 18):

Keppel Reit : Its manager reported a 5 per cent year-on-year increase in property income to S$172.6 million for its first nine months ended Sep 30, 2023. Distributable income from operations, however, fell 10.1 per cent to S$148.6 million due to higher borrowing costs, property tax and utility costs. Units of Keppel Reit closed flat at S$0.84 on Tuesday, before the business update.

Boustead Singapore : The engineering services company on Tuesday said it is in talks with its real estate unit Boustead Projects, to come up with an exit offer that would comply with the Singapore Exchange’s directive. The group is also required to confirm if it intends to make the offer for all of Boustead Projects’ issued share capital, excluding treasury shares and those already held by the parent company, by 5 pm on Nov 14. Prior to the update, shares of Boustead Singapore closed flat at S$0.84.