Stocks to watch: Keppel, Medtecs, OUE C-Reit, Mapletree Logistics Trust

THE following companies saw new developments that may affect trading of their securities on Tuesday (Nov 23):

Keppel Corporation: BN4 Global offshore group Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine, has landed a contract from a renewable energy company to construct 2 offshore substations worth around S$110 million. The project, scheduled to be completed in 2024, will be deployed in an offshore wind farm. Shares of Keppel closed up S$0.05 or 0.9 per cent at S$5.39 before the announcement.

Medtecs International Corp: 546 The Catalist-listed protective gear manufacturer on Monday (Nov 22) reported a 77 per cent slide in net profit for the 9 months ended September 2021 to US$19.26 million, as demand for personal protective equipment fell. Separately, it also announced that its wholly-owned subsidiary Medtecs (Asia Pacific) and US healthcare market player ACO International are in discussions to enter into a share subscription agreement. The counter fell S$0.005 or 1.6 per cent to close at S$0.30 before the announcement.

OUE Commercial Reit (OUE C-Reit): TS0U OUE C-Reit's manager announced on Monday that BNP Paribas Real Estate's Asia-Pacific co-head Han Khim Siew will be appointed chief executive of the manager of the real estate investment trust from Feb 7, 2022. Units of OUE C-Reit fell S$0.005 or 1.1 per cent at S$0.435 before the announcement.

Trading halt: Mapletree Logistics Trust (MLT): M44U The manager announced on Monday night that it is acquiring a portfolio of 17 Grade A logistics assets with an average age of 1.6 years in China, Vietnam and Japan for a combined total value of S$1.4 billion. The trust requested a trading halt on Tuesday (Nov 23) morning. Units of MLT closed 0.5 per cent or S$0.01 lower at S$1.95 on Nov 22.