Stocks to watch: Keppel, SingPost, ValueMax, GSH, Hong Leong Asia

THE following companies saw new developments that may affect trading of their securities on Monday (Dec 19): Keppel Corporation : Its subsidiaries are jointly acquiring a 15-storey office tower in Seoul at a purchase price of 220 billion won (S$228.7 million). The group on Monday said it intends to carry out asset enhancement initiatives to expand the building’s leasable office space, as well as refurbish existing spaces to enhance the property’s value. Shares of Keppel ended Friday S$0.12 or 1.6 per cent down at S$7.33.

SingPost : The group announced it would be raising postage, package and doorstep parcel delivery rates starting Jan 1, 2023. Aside from GST (goods and services tax) hikes announced by the government in February this year, it also cited “exceptional inflationary cost increases across manpower, fuel and electricity”. Shares of SingPost closed S$0.025 or 4.9 per cent higher at S$0.535 on Friday, after the news.

ValueMax , GSH : Both mainboard-listed companies on Friday individually announced fundraises through the issue of digital securities to be listed on fintech platform ADDX. ValueMax raised S$45.14 million in gross proceeds from the issue of its three-month Series 005 commercial paper, while GSH separately announced that it has raised S$22.12 million in gross proceeds across three issuances of digital securities. Shares of ValueMax closed flat at S$0.335 on Friday; GSH was also unchanged at S$0.165, before the news.