Stocks to watch: Keppel Corp, ST Engineering, Digital Core Reit, Wee Hur, Cromwell E-Reit, Jardine C&C

THE following companies saw new developments that may affect trading of their securities on Friday (Apr 22): Keppel Corporation : The company logged higher net profit for the first quarter ended March from a year ago with 3 key segments putting up a better showing, except for urban development. Group revenue grew 9 per cent to S$2.07 billion year on year, led by higher contributions from the energy and environment segment, said Keppel in a Q1 business update on Thursday. Shares of Keppel Corp closed flat at S$6.65 on Thursday before the update.

ST Engineering : The defence engineering group said on Thursday that its acquisition of transportation solutions provider TransCore complies with all local, state and federal laws, regulations as well as customers’ requirements in the US. The company was responding to queries from The Business Times, after officials from the Ohio Turnpike and Infrastructure Commission expressed concern about TransCore's ownership. ST Engineering shares closed up 0.7 per cent or S$0.03 at S$4.15 on Thursday.

Digital Core Reit : Its manager on Thursday posted US$12.1 million in first-quarter distributable income, beating its initial public offering (IPO) forecast of US$11.9 million by 1.9 per cent. Gross revenue was 0.1 per cent lower than its IPO forecast, at US$26.5 million, for the first-quarter period, while net property income beat its IPO forecast by 6.9 per cent, at US$17.9 million. Units of Digital Core Reit closed at US$1.03, down 2.8 per cent or US$0.03 on Thursday before the business update.

Wee Hur : The property developer and builder on Friday proposed to divest a 9.9 per cent stake in Wee Hur PBSA Master Trust, for A$112.7 million (S$113.3 million). Other unitholders of the property trust will be selling all of their stake as well, bringing the total sale to A$567.9 million. The deal will revalue the fund at A$1.14 billion, which is 2.8 times the current S$403.2 million value on Wee Hur's books. Its share price closed flat at S$0.20 on Thursday.

Cromwell European Reit (Cromwell E-Reit); Its manager on Friday announced the acquisition of 2 industrial properties in Italy and 1 business park in Germany for 68.3 million euros (S$101.5 million). Cromwell E-Reit units closed flat at 2.30 euros on Thursday.

Jardine Cycle & Carriage (Jardine C&C): The Mercedes-Benz dealer said an off-market purchase of 80,000 shares by its majority shareholder, Jardine Matheson, may have triggered the unusual price movements in its shares on Thursday. In its response to queries by the Singapore Exchange Regulation, Jardine C&C said no disclosures were made as the purchase did not trigger any disclosure obligations. Shares of Jardine C&C closed 5.4 per cent or S$1.37 higher at S$26.87 on Thursday.