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Stocks to watch: Keppel Corp, ST Engineering, UEL
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Keppel Corporation Limited: Keppel Land, a subsidiary of Keppel Corporation, has bought a prime site in Jakarta's central business district, on which it intends to build a luxury apartment tower. Keppel Land announced on Tuesday that it entered into the conditional sale-and-purchase agreement, through its wholly owned subsidiary PT Sukses Manis Tangguh, with Indonesia's Bank Central Asia. Keppel Corp last traded at S$6.38 on Tuesday.
Singapore Technologies Engineering Limited (ST Engineering): ST Engineering's Corporate Venture Capital unit has invested in Janus Technologies Inc, an endpoint cybersecurity provider based in California. On Tuesday, the group said that ST Engineering Ventures has made an investment of US$5.8 million for a minority interest in Janus Technologies. ST Engineering closed at S$3.54 on Tuesday.
United Engineers Limited (UEL): The takeover offer for UEL closed on Tuesday, but the offer for UEL's ordinary shares has lapsed due to insufficient takers. Following the announcement, UEL posted on the Singapore Exchange late on Tuesday that several of its independent and non-executive directors are stepping down. UEL last traded at S$2.72 on Tuesday.