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Stocks to watch: CapitaLand, Lum Chang, Keppel, Best World International

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

CapitaLand and Lum Chang Holdings: A joint venture between the two groups has acquired a Frankfurt, Germany office building for 234.3 million euros (S$375.1 million) in cash. CapitaLand holds 94.9 per cent of the joint venture and paid 222.3 million euros of the amount while Lum Chang, a construction company, holds the remaining 5.1 per cent. The freehold, multi-tenanted building known as Main Airport Center will be CapitaLand's first office building in Germany.

Keppel Corporation: A former lawyer at Keppel Corp's oil rig building business secretly pleaded guilty and cooperated with US authorities before the Singapore-based company agreed to pay US$422 million to settle charges it bribed Brazilian officials, according to court documents. Jeffery Chow, a former senior member of Keppel Offshore & Marine's legal department, cut a deal to help prosecutors in their probe of Keppel and other former executives, according to the documents unsealed on Tuesday in federal court in Brooklyn.

Best World International: The company has acquired a 22.5 per cent equity interest in Best World Lifestyle, a company incorporated in Malaysia, for a cash consideration of RM1.13 million (S$369,700). Upon completion of the acquisition, the company's equity interest in Best World Lifestyle will increase from 77.5 per cent to 100 per cent.

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