Stocks to watch: SGX, CSE Global, Manulife US Reit, Keppel Reit, Wilmar, CDL

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Nov 20):

Singapore Exchange (SGX): The Monetary Authority of Singapore on Wednesday announced plans to allow companies to list on both SGX and Nasdaq using a single set of listing documents under a new “dual-listing bridge”. Companies with a market capitalisation of S$2 billion and above will only need to submit one prospectus to both bourses. Shares of SGX fell 0.1 per cent or S$0.02 to close at S$16.80 on Wednesday.

CSE Global : The systems integrator on Wednesday reported a 20.5 per cent jump in revenue to S$257.7 million for its third quarter ended Sep 30, from S$213.9 million in Q3 2024. This came even as its order book shrank 26.2 per cent for the nine-month period as it lacked major electrification projects. Shares of CSE Global rose 2.1 per cent or S$0.02 to close at S$0.97, before the announcement.

Manulife US Reit : The real estate investment trust (Reit) on Wednesday said it secured a 24-month lease renewal with its fifth-largest tenant, the US Treasury, for some 120,000 square feet of office space in Washington, DC. The government department contributes 5.3 per cent of the Reit’s total gross rental income. Units of Manulife US Reit rose 1.4 per cent or US$0.001 to close at US$0.073, before the announcement.

Keppel Reit : The trustee of Keppel Reit, HSBC Institutional Trust Services (Singapore), on Wednesday priced its offering of S$100 million worth of subordinated perpetual securities at 3.28 per cent, under a S$2 billion multi-currency debt issuance programme. Units of Keppel Reit ended flat at S$1.05, before the announcement.

Wilmar International : Wilmar’s China subsidiary, Yihai (Guangzhou) Oils & Grains Industries, was found guilty of contract fraud and ordered to jointly bear about 1.9 billion yuan (S$345.4 million) in losses. Wilmar announced on Wednesday that the unit intends to appeal the judgment. Shares of Wilmar closed at S$3.32, S$0.01 or 0.3 per cent higher, before the announcement.

City Developments Limited (CDL): Its wholly owned subsidiary, Millennium & Copthorne Hotels, has divested a multifamily residential asset in the US for US$143.5 million to a US-based institutional investor. Located at 1250 Lakeside Drive in Sunnyvale, California, the property is part of the larger Silicon Valley area. Shares of CDL ended at S$7.22, S$0.02 or 0.3 per cent up on Wednesday, before the announcement.