Stocks to watch: ST Engineering, Keppel, Hong Leong Asia, Sasseur Reit

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jan 28):

Singapore Technologies Engineering (ST Engineering):The group’s total contract awards for 2025 reached a record S$18.7 billion, exceeding the S$12.6 billion total in 2024 by about 49 per cent, it announced on Wednesday. The full-year tally was lifted by about S$4.7 billion in new contracts secured during the fourth quarter. Shares of ST Engineering ended S$0.04 or 0.4 per cent higher at S$9.44 on Tuesday.

Keppel : The group, through its infrastructure division, has entered an agreement with Aster to jointly assess the development of one of Asia’s first commercial-scale ethanol-to-jet sustainable aviation fuel facilities. Located on Jurong Island, the proposed plant will have a planned production capacity of up to 100,000 tonnes of sustainable aviation fuel per year, said Keppel on Wednesday. Keppel shares closed on Tuesday 0.6 per cent or S$0.07 higher at S$11.02.

Hong Leong Asia (HLA) : The company on Tuesday announced that Guangxi Yuchai Marine and Genset Power, an indirect subsidiary of China Yuchai International (CYI), submitted an application to list its shares on the mainboard of the Hong Kong Stock Exchange. HLA holds a 48.7 per cent stake in CYI. It added that the Singapore Exchange has advised that it had “no comments” on the proposal based on the company’s submissions, effectively clearing the regulatory path in Singapore. Shares of Hong Leong Asia rose 1 per cent to close S$0.03 higher at S$3.01 on Tuesday, before the announcement.

Sasseur Real Estate Investment Trust (Reit) : The manager of the Reit said on Tuesday that it turned down an offer to acquire a retail outlet mall from its sponsor, Sasseur Cayman Holding. The offer was made pursuant to a right of first refusal agreement. The manager said that acquiring the property, known as Sasseur (Xi’an) Outlets, based on the proposed terms would “not be in the best interests” of Sasseur Reit’s unitholders. Units of Sasseur Reit rose 0.7 per cent to close S$0.005 higher at S$0.69 on Tuesday, before the announcement.