Stocks to watch: CDL, Keppel, StarHub, Metro, ABR, LHN, Sunpower

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

City Developments (CDL): The property giant on Monday said independent non-executive director Tan Yee Peng has resigned in relation to its investment in Sincere Property Group. She is the third director to do so in recent months. CDL shares closed at S$7.97 on Thursday, down S$0.09 or 1.1 per cent before the announcement.

Keppel Corporation: Its chief executive Loh Chin Hua said he is "cautiously optimistic" about 2021, in a New Year message to some 18,000 employees on Friday. The conglomerate will increasingly adopt an asset-light approach across its businesses and tap third party co-investments for growth, he added. Keppel ended Thursday S$0.07 or 1.3 per cent lower at S$5.38.

StarHub: The telco has priced S$200 million worth of notes due 2031 at 2.48 per cent, and intends to use the net proceeds for general corporate funding requirements or investments. This includes new acquisitions and investments, refinancing of existing borrowings, working capital and capital expenditure, said StarHub in a bourse filing on Thursday. The counter closed S$0.01 or 0.8 per cent lower at S$1.31, prior to the announcement.

Metro Holdings: The property group is acquiring a 26 per cent stake in a portfolio of 14 properties for an investment amount of up to S$76.6 million. This investment marks Metro's foray into Singapore's industrial real estate market, and will deepen the firm's presence in the local market and further diversify from its existing investment portfolio, said the group in an evening filing on Thursday. Shares of Metro closed flat at 71.5 Singapore cents, before the announcement.

ABR Holdings: The investment holding company on Friday said its 50:50 joint venture company with LWH Holdings, Baywind Properties, was awarded a S$23.6 million tender for three freehold properties in Lorong N Telok Kurau. The three properties consist of a pair of semi-detached houses, and one bungalow. ABR shares ended Thursday flat at 67.5 Singapore cents.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

LHN Limited: The real estate management services group is launching a mixed-use development at 1557 Keppel Road by mid-February 2021. The integrated space consists of three blocks spanning over 96,299 square feet, and will be utilised for commercial and residential purposes. LHN shares closed flat at 18.5 Singapore cents on Thursday.

Sunpower Group: Following an internal restructuring exercise, Sunpower has agreed to fully sell its manufacturing and services business in a management buyout for 2.3 billion yuan (S$463.3 million). Some 1.3 billion yuan of the net proceeds will be used for a proposed special dividend amounting to 1.1627 yuan per share on a fully-diluted basis, said the group on Thursday. Shares in Sunpower last closed at S$0.80 on Wednesday. The group on Thursday evening requested to lift its trading halt.

Ascott Residence Trust (ART): It has extended the master lease agreements and revised rents for some of its properties in France managed by Citadines, said the stapled hospitality group's managers after markets closed on Thursday. ART has also entered into rent abatement agreements for some of these properties. Staple securities of ART ended Thursday up S$0.01 or 0.9 per cent at S$1.08.

Heeton Holdings: The mainboard-listed property group on Thursday said it appointed a new chief executive effective Jan 1, 2021. Ivan Hoh Chin Hiep, previously chief operating officer of the group, replaces Eric Teng, who stepped down as chief executive as of Oct 1, 2019. Shares of Heeton last closed flat at 19.3 Singapore cents on Dec 31, 2020.

Jumbo Group: The food and beverage play has opened its second franchised Jumbo Seafood restaurant in Fuzhou, China, bringing the total number of Jumbo Seafood restaurants across Asia to 19. The outlet is Jumbo's seventh in China, and is located at Rong Qiao The Bund. Jumbo shares closed flat at S$0.38 on Thursday.