Stocks to watch: Keppel, First Reit, Sembcorp

THE following companies saw new developments that may affect trading of their securities on Tuesday (Jul 19):

Keppel Group : Keppel Capital’s private fund management arm Keppel Data Centre Fund II announced on Tuesday that it has entered into a strategic partnership with Heying — a wholly-owned subsidiary of Tianjin Zhengxin Group — to jointly develop a greenfield data centre in Greater Beijing, China. The total development cost of the project is approximately 1.4 billion yuan (S$292 million). Shares of Keppel ended Monday at S$6.49, up 1.6 per cent or S$0.10. 

First Reit : The Reit’s unitholders had on Tuesday raised questions regarding the company’s divestment of Siloam Hospitals Surabaya, including queries on the rationale of the divestment, the resultant changes to distribution per unit, as well as the plans of the Reit manager to turn around the group’s business and profitability. Units of First Reit closed on Monday at S$0.275, up 1.9 per cent or S$0.005.

Sembcorp Industries : The group’s profits are expected to be materially higher for the first half of 2022 compared to the year ago period, on the back of continued high electricity prices in Singapore and India, Sembcorp said on Tuesday. Separately, the company said that contrary to reports, its subsidiary in Myanmar has not received any directive to stop repaying foreign loans. Sembcorp’s shares closed 1 per cent or S$0.03 higher at S$2.93 on Monday.