Stocks to watch: Keppel Corp, Keppel Reit, Serial System, Ntegrator

THE following companies saw new developments that may affect trading of their securities on Tuesday (Mar 15):

Keppel Corporation: BN4 Its wholly-owned subsidiary Keppel Land is divesting its 100 per cent stake in Flemmington Investments for a total of around US$98.6 million. In a bourse filing on Monday, Keppel said the consideration comprises US$53.1 million as consideration for the shares, and US$45.5 million as repayment of shareholder loans. The counter fell S$0.02 or 0.3 per cent on Monday to close at S$6.11, before the announcement.

Keppel Reit: K71U The real estate investment trust's (Reit) manager on Monday said bondholders who hold an aggregate of S$146.5 million in principal amount of the Reit's convertible bonds have exercised their irrevocable put option for the redemption of the bonds. The redemption will be funded through existing available loan facilities. Units of Keppel Reit closed on Monday down S$0.01 or 0.8 per cent at S$1.19, before the announcement.

Serial System: S69 Its partially-owned joint venture company (JV) and the JV's shareholder have filed a defence and counterclaim against the group's 55 per cent-owned subsidiary, Bast Investment. This comes after Bast commenced litigation relating to a RM15.4 million (S$5 million) claim, among others, against the 2 parties. Shares of Serial System ended S$0.001 or 0.9 per cent higher at S$0.113 on Monday, before the announcement was made.

Ntegrator: 5HC The Catalist-listed communications company has won 2 contracts worth a total of S$29 million from the same regional telecommunications network service provider. In a bourse filing on Monday, Ntegrator said both contracts have an option for a 1-year extension. The total value of the contracts inclusive of the options would be worth a maximum of around S$43.5 million. The counter closed unchanged on Monday at S$0.005, before the announcement.