Stocks to watch: Keppel Corp, Keppel Reit, Olam, Frasers Centrepoint Trust, LHN

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

Keppel Corporation, Keppel Reit: The conglomerate on Tuesday evening said its wholly-owned subsidiary Keppel Renewable Energy has signed an agreement to develop a solar farm in Queensland, Australia.

Separately, Keppel Offshore & Marine on Wednesday said it has complied with its obligations under the US Deferred Prosecution Agreement entered into with the US Department of Justice in December 2017. This was in relation to corrupt payments made by a former agent in Brazil.

As part of the fines payable under the global resolution, about US$52.8 million was payable to the Corrupt Practices Investigation Bureau (CPIB) in Singapore within three years from the date of a conditional warning. The discussions with the specified Brazilian authorities remain ongoing, and CPIB has agreed to extend this three-year period for a further 12 months until Dec 22, 2021, Keppel Corp said.

On Wednesday morning, Keppel Land separately announced that it is divesting its 100 per cent stake in Keppel Bay Tower to Keppel Reit, based on an agreed property value of S$657.2 million, inclusive of rental support of up to S$3.2 million.

Keppel Corp shares closed at S$5.30 on Tuesday, down 0.9 per cent or S$0.05, while Keppel Reit units closed at S$1.11, up S$0.01 or 0.9 per cent.

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Olam International: The agri-food giant said on Wednesday that it will report a loss for the second half of 2020, arising from a one-off, non-cash and non-recurring impairment. However, it expects net profit for the full year to remain positive. Shares of Olam International fell S$0.03 or 2 per cent to close at S$1.50 on Tuesday.

Frasers Centrepoint Trust (FCT): It has proposed to divest Anchorpoint shopping centre for S$110 million to unrelated third parties, the manager said in a bourse filing on Wednesday. FCT units closed 1.6 per cent or S$0.04 lower at S$2.46 on Tuesday.

LHN Limited: Controlling shareholder Fragrance Ltd has given Catalist-listed LHN the green light to acquire a four-storey corner building at 320 Balestier Road for S$18.1 million. Shares of LHN closed unchanged at 18.8 Singapore cents on Tuesday before the announcement.

Aspen (Group) Holdings: The Catalist-listed firm has received in-principle approval from the Singapore Exchange to transfer to the mainboard. This is subject to shareholders' approval via a special resolution, as well as compliance with listing requirements. Aspen shares closed at 21.5 Singapore cents on Tuesday, up 4.9 per cent or one cent, before the filing.

Trading halt: The manager of ARA Logos Logistics Trust (ALog) on Wednesday morning requested a trading halt, shortly before it released its responses to questions from unitholders. ALog is set to hold its extraordinary general meeting at 10am on Wednesday.