Stocks to watch: Singtel, Keppel, Ho Bee Land, Vicom

THE following companies saw new developments that may affect trading of their securities on Thursday (Dec 22):

Singtel : The telecommunications group has partnered Indonesian telecommunications player Telkom and energy company Medco Power to build its first data centre project in Indonesia. Singtel and Medco Power will be minority shareholders, with the data centre to be majority-owned by Telkom. Shares of Singtel closed flat at S$2.56 on Wednesday, after the announcement.

Keppel Corporation : Its land unit is acquiring a 19,846 square metre , marking the company’s foray into the Chinese senior living market. Separately, Keppel Land has also signed two memoranda of understanding to advance its expansion in Nanjing. Shares of Keppel Corp closed S$0.07 or 1 per cent higher at S$7.29 on Wednesday, before the news.

Ho Bee Land : The real estate developer is expecting to record a “significant decrease” in its net profit for the six months and full year ending Dec 31, compared with last year. According to its profit guidance issued on Wednesday, higher revenue and operating profit were offset by fair value losses, higher foreign exchange losses and higher interest expenses. Prior to the announcement, shares of the group closed flat at S$2.37.

Vicom : Its wholly-owned subsidiary Setsco Services has won the tender to lease a 12,400.4 square metre industrial site to JTC for some S$7 million over a lease term of 20 years. Setsco will undertake the development of the plot and intends to use it for testing, inspection and certification activities once completed. Shares of Vicom closed flat at S$1.93 on Wednesday, before the announcement.