Stocks to watch: Keppel, Sabana Reit, ESR-Reit, OCBC, DBS, Wing Tai, CDLHT

THE following companies saw new developments that may affect trading of their securities on Monday:

Keppel Corporation: Keppel, which owns a 40 per cent stake in upstream oil and gas company KrisEnergy, on Sunday said it is prepared to support the final restructuring proposal of the debt-hit firm. KrisEnergy had earlier warned that it is likely to face liquidation without comprehensive restructuring. Shares of Keppel closed on Friday at S$4.63, up S$0.06 or 1.3 per cent.

Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit), ESR-Reit: The Monetary Authority of Singapore on Friday clarified that its regulatory framework does not prohibit a shareholder group from owning substantial stakes in two real estate investment trust (Reit) managers managing Reits invested in the same property class. This was in response to queries about the proposed merger of Sabana Reit and ESR-Reit, whose managers have the same sponsor, ESR Cayman. Units of ESR Reit ended Friday flat at 38.5 Singapore cents, while units of Sabana Reit ended flat at 37 cents.

OCBC Bank: The lender has filed applications with the High Court of Singapore to place KS Energy and its principal subsidiary, KS Drilling, under judicial management , although the troubled offshore and marine group is suggesting an alternative solution. OCBC shares finished Friday at S$8.71, down S$0.10 or 1.2 per cent.

Wing Tai Holdings: The mainboard-listed company late on Friday reported a net loss of S$16.8 million for the second half ended June 30, compared with a net profit of S$28.4 million in the year-ago period. Wing Tai shares ended Friday at S$1.71, up S$0.01 or 0.6 per cent.

CDL Hospitality Trusts (CDLHT): Occupancy at CDLHT's recently acquired W Singapore - Sentosa Cove has reached up to 60-65 per cent on Fridays and Saturdays since the restart of the staycation business, while demand for suites is elevated, chief executive of the manager Vincent Yeo said in a recent interview with The Business Times. Stapled securities of CDLHT ended Friday at S$1.05, up S$0.02 or 2 per cent.

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CapitaLand Mall Trust (CMT), CapitaLand Commercial Trust (CCT): The Singapore Exchange (SGX) on Friday granted in-principle approval to CMT for the listing of up to 2.78 billion new units as part consideration for its merger by way of a trust scheme with CCT, CMT's manager said in a bourse filing on Monday. SGX on Friday also advised that it has no objection to the proposed delisting of CCT, subject to the trust scheme becoming effective, CCT's manager said on Monday. Units of CMT ended Friday at S$1.90, up S$0.04 or 2.2 per cent. Units of CCT finished at S$1.64, up S$0.04 or 2.5 per cent.

Lippo Malls Indonesia Retail Trust (LMIRT): LMIRT's manager has reached an agreement with its sponsor's wholly-owned subsidiary to buy the strata title units of Lippo Mall Puri at a lower revised price of 3.5 trillion rupiah (S$330.2 million). Previously, LMIRT's manager proposed to acquire the mall for 3.7 trillion rupiah. Units of LMIRT were trading at 11.7 Singapore cents as at 9.34am on Monday, down 0.1 cent or 0.9 per cent.

DBS: The bank has reached an agreement with property developer and investment company Hongkong Land to convert an existing HK$1 billion (S$175.8 million) five-year revolving credit facility into a sustainability-linked loan. The interest rate for the loan will be indexed against environmental, social and governance targets, both parties said in a joint statement on Friday. DBS shares ended Friday at S$20.76, up S$0.30 or 1.5 per cent.

Singapore Airlines: The carrier owns one of eight Boeing 787 Dreamliner jets found to have "distinct manufacturing issues". SIA's jet is not in service, and the airline will work closely with Boeing on a solution, it said in a statement on Friday. SIA shares ended Friday at S$3.68, up S$0.05 or 1.4 per cent.

Top Glove Corporation: The glove maker late on Friday said the verification of its labour practices - for the purpose of lifting a detention order imposed on it by US authorities - has been completed. The report is expected to be available within 10 days. Shares of Top Glove ended Friday at S$8.53, down S$0.05 or 0.6 per cent.