Stocks to watch: Ascendas Reit, Keppel, SATS, ARA Logos, AMTD

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

Ascendas Real Estate Investment Trust (Ascendas Reit): The manager is proposing to acquire a new logistics property in Brisbane for A$70.3 million (S$70.9 million). The property will be developed at 500 Green Road, Crestmead. Ascendas Reit units closed flat at S$2.95 on Wednesday, before the announcement.

Keppel Corporation: The conglomerate on Thursday said Keppel Land is divesting its 100 per cent stake in First King Properties, which owns a freehold office building in London, for some £73.6 million (S$131.1 million). Shares of Keppel Corp closed at S$5.37 on Wednesday, up S$0.07 or 1.3 per cent.

SATS: The mainboard-listed ground handler and caterer has increased its in-house production of dry ice to 4.5 tonnes daily and built the capacity and capabilities for its 8,000 square-metre Coolport to handle perishables such as vaccines. It will not be affected by any price increases in dry ice or freezers, it said. SATS shares closed at S$3.99 on Wednesday, up S$0.05 or 1.3 per cent.

ARA Logos Logistics Trust: It has launched a preferential offering to raise gross proceeds of about S$50 million, which will be used to partially finance its proposed acquisition of five logistics properties in Australia and investments into two of the sponsor's funds. The manager on Wednesday evening requested to lift a trading halt called in the morning. The counter last traded at 60.5 Singapore cents on Tuesday.

AMTD International: The investment banking firm, which is dual-listed in New York and Singapore, has promoted William Fung to chief executive officer, replacing Calvin Choi. Two of its independent directors have also been appointed chairman and vice-chairman. Shares of AMTD International on the Singapore bourse finished at S$17 on Wednesday, up S$0.50 or 3 per cent.

The Singapore Exchange will close at 12pm on Thursday and for the whole of Friday for the Christmas holiday.