Stocks to watch: Keppel, SingLand, UOL, UOB, ST Engineering, SIA, Lendlease Global Commercial Reit
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (May 18):
Keppel : The group said on Monday that it will remove the proposed divestment of its stake in M1’s telco business from its announced monetisation plans for 2025, after news of the Infocomm Media Development Authority halting the assessment of the proposed M1-Simba merger. Separately, Keppel announced on Friday a definitive 25-year deal with the global arm of Australian telco Telstra for a fibre pair on the Bifrost Cable System. Keppel’s shares ended Friday at S$10.60, down 0.9 per cent or S$0.10.
SingLand : Singapore Land Group (SingLand) announced on Friday that one of its units bought UOB’s shares in the joint venture (JV) companies Novena Square Development and Novena Square Investments for S$299 million in cash. Prior to the transactions, UOB had a 20 per cent stake in each JV, as did the SingLand unit. The remaining 60 per cent of each JV was owned by SingLand’s parent UOL Group. SingLand ended Friday at S$3.60, down 0.3 per cent or S$0.01, before the news.
UOL , UOB : Separately, UOL on Friday also inked a deal to purchase the interest it does not already own in the Orchard Road property formerly known as Faber House for S$68.5 million. The remaining interest that UOL is acquiring includes all of UOB’s stake in the property and its banking hall, along with the bank’s one-twelfth share in the 30-year lease of the airspace above certain lots. UOB closed at S$37.30, 0.2 per cent or S$0.07 lower. UOL ended at S$10.15, 0.4 per cent or S$0.04 down.
ST Engineering : The engineering group posted an 11 per cent rise in revenue to S$3.3 billion for its first quarter ended Mar 31, from S$2.9 billion in the previous corresponding period. This was due to strong revenue growth across all of its core business segments, it said on Monday. The group noted that its year-on-year net profit growth outperformed its rebased revenue growth. Shares of ST Engineering closed at S$10.37 on Friday, down 1.4 per cent or S$0.15.
Singapore Airlines (SIA): The flag carrier’s passenger traffic grew 7 per cent year on year in April, outpacing a 6.3 per cent increase in capacity, it said on Friday. The group, which comprises SIA and budget arm Scoot, posted passenger traffic of 13.7 billion revenue passenger kilometres in April, up from 12.8 billion in the year-ago period. Shares of SIA rose 2.4 per cent or S$0.15 to close at S$6.42 on Friday, before the announcement.
Lendlease Global Commercial Reit : The manager announced on Monday that Justin Marco Gabbanni will step down as chair and director of the manager effective Jun 30. This comes as he leaves Lendlease Group, the manager’s holding company, to “pursue an external opportunity”. He previously served as CEO of Asia, overseeing investment management, development and construction businesses across the region. Units of the real estate investment trust (Reit) closed Friday 0.9 per cent or S$0.005 higher at S$0.565.
