Stocks to watch: OCBC, Keppel DC Reit, Frasers Centrepoint Trust, Suntec Reit

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jul 25):

OCBC : OCBC’s subsidiary Great Eastern announced on Thursday the incorporation of a wholly owned subsidiary, Great Eastern Labuan Company, in Labuan, Malaysia. The principal activities of the subsidiary are to provide life insurance and life reinsurance services. A bourse filing stated that the incorporation of Great Eastern Labuan will be funded through internal resources and is not expected to have a material impact on the net tangible assets or earnings per share of the Great Eastern group for the financial year ending Dec 31. The counter ended Thursday 0.4 per cent or S$0.06 higher at S$17.27, before the news.

Keppel DC Reit : The manager of the real estate investment trust (Reit) said on Friday that it posted a 12.8 per cent increase in distribution per unit (DPU) for its first half of the financial year ended Jun 30 of S$0.05133, from S$0.04549 in the same year-ago period. This was largely attributed to contributions from the acquisition of data centre buildings Keppel DC Singapore 7 and 8, Tokyo Data Centre 1, and contract renewals and escalations. The distribution will be paid on Sep 15, after the record date on Aug 4. Units of Keppel DC Reit closed 0.9 per cent or S$0.02 lower at S$2.26 on Thursday.