Stocks to watch: SIA, Keppel Infrastructure Trust, Nam Cheong, Prime US Reit
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Apr 7):
Singapore Airlines (SIA) : Campbell Wilson, the chief executive of Air India, has resigned and is serving his notice period, according to local media. The Indian flag carrier is 25.1 per cent owned by SIA Group and has been grappling with the aftermath of a crash that killed 260 people last year. SIA’s share of losses from associated companies including Air India rose from S$163 million to S$178 million during the third quarter. Shares of SIA fell 0.5 per cent to close S$0.03 lower at S$6.62 on Monday.
Keppel Infrastructure Trust : The manager of the trust announced on Tuesday that it has appointed Khor Poh Hwa as the new chairman of the board. Khor, 76, will succeed Daniel Ee, 73, on Apr 29. Units of Keppel Infrastructure Trust ended at S$0.52 on Monday, S$0.005 or 1 per cent higher.
Nam Cheong : The offshore marine firm secured offshore support vessel charter contracts of up to RM102.5 million (S$32.7 million) from regional oil majors, a bourse filing noted on Monday. They have a firm period of up to two years, with options for further extension of an additional year. Following the deal, 25 out of Nam Cheong’s 36-vessel fleet will be under long-term charters. The counter closed 5.6 per cent or S$0.08 higher at S$1.52 on Monday, before the news.
Prime US Real Estate Investment Trust (Reit) : The Reit signed a new 11-year lease with ratings agency S&P Global for around 40,000 square feet of space at Village Center Station I in Denver, Colorado, said its manager on Monday. This lease will take committed occupancy at the nine-storey Class A office building to 80 per cent, from 63 per cent. It marks the beginning of a long-term partnership with S&P Global, to curate a new workplace for its employees in the Denver area. Units of the Reit closed flat on Monday at US$0.173, before the announcement.
