Stocks to watch: CICT, Keppel Corp, MNACT, MCT, Yangzijiang Financial

THE following companies saw new developments that may affect trading of their securities on Tuesday (May 24):

Capitaland Integrated Commercial Trust (CICT) : The real estate investment trust is renewing the leases of 3 of its properties with Temasek subsidiaries, it said in an announcement on interested persons transactions. CICT will renew its leases between StarHub, Temasek Foundation and ink a new service agreement with Certis Cisco. CICT units closed 0.4 per cent or S$0.01 lower at S$2.24, before the announcement.

Keppel Corporation (Keppel Corp): The wholly-owned subsidiaries of Keppel Offshore & Marine have bagged contracts for the bareboat charter of 2 jackup rigs to be deployed in the Middle East, announced the group on Tuesday. Including options for extension and modification works to prepare the rigs for on-site preparations, total revenue for the charters is expected to be up to S$120 million. Shares of Keppel Corp ended Monday down S$0.03 or 0.4 per cent at S$6.77.

Mapletree North Asia Commercial Trust (MNACT) and Mapletree Commercial Trust (MCT): The merger of MNACT and MCT has been approved by their unitholders in separate extraordinary general meetings (EGMs). Following this, MNACT will be delisted from the Singapore Exchange in mid August. Units of MNACT closed flat at S$1.20, while units of MCT closed unchanged at S$1.81 before the announcement.

Yangzijiang Financial Holdings (YZJFH): The spun-off investment arm of Yangzijiang Shipbuilding will host an EGM on Jun 8 to seek shareholders’ approval for the company to adopt a share buyback mandate. The proposed mandate will allow the company to buy back up to 10 per cent of its own issued ordinary share capital, YZJFH said in a bourse filing on Monday. The counter closed 2.4 per cent or S$0.01 higher at S$0.44, before the update.

OUE , OUE Lippo Healthcare (OUELH) : Echo Healthcare Management, a joint venture between OUE and OUELH, has tied up with 3 medical specialist groups to form a partnership called Echo Healthcare Services. Before the announcement on Monday, shares of mainboard-listed OUE closed down 0.8 per cent or S$0.01 to S$1.31, while Catalist-listed OUELH closed 5.6 per cent or S$0.002 higher at S$0.038.