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Stocks to watch: MIT, Keppel Reit, ST Engg, Singapore Airlines, CapitaLand, Oxley
THE following companies saw new developments that may affect trading of their securities on Monday:
Mapletree Industrial Trust (MIT): Its manager on Monday proposed to acquire a data centre and office in the US for between US$200.6 million and US$262.1 million subject to the calibration of terms. MIT units closed at S$3.12 on Friday, up S$0.01 or 0.3 per cent.
Keppel Reit: Keppel Reit has acquired a freehold commercial property in Sydney for A$306 million (S$305 million), its manager said on Sunday. Units of Keppel Reit ended Friday at S$1.07, down S$0.02 or 1.8 per cent.
ST Engineering: Fibre and connectivity provider SP Telecommunications, a joint venture between ST Engineering and SP Group, has plans to roll out a multi-million dollar "smart" network with artificial intelligence and cybersecurity built in, its chief executive Titus Yong told The Business Times (BT). Shares of ST Engineering finished Friday flat at S$3.41.
Singapore Airlines (SIA): According to a screenshot of an email shared by a Telegram user, the carrier could be offering "flights to nowhere" in October, in an attempt to generate much-needed revenue as its fleet continues to be largely grounded by the virus pandemic. SIA neither denied nor confirmed this plan when approached by BT on the matter. The counter ended Friday at S$3.56, up S$0.02 or 0.6 per cent.
CapitaLand: A private fund managed by the real estate developer is understood to be the frontrunner for ABI Plaza, a 12-storey freehold office building in the Tanjong Pagar area. Talk on the grapevine is that an entity linked to the private fund is in exclusive discussions to buy ABI Plaza at about S$206 million. CapitaLand shares ended Friday at S$2.75, up S$0.01 or 0.4 per cent.
Oxley Holdings: In response to a BT article about buyer concerns over the developer's purported lack of transparency, Oxley clarified on Friday night that multi-stage handovers for mixed developments are common in Cambodia and Singapore, and that its subsidiary had adopted the process in August for a project called The Peak with regulatory permission. The counter closed unchanged at S$0.22.
DBS, UOB, OCBC: It is possible that the dividend cap for Singapore banks could be extended into FY21, given the lower net interest income, relatively soft credit demand and uncertainty over asset quality, DBS Group Research said in a report. DBS shares closed at S$20.51, down S$0.03 or 0.2 per cent. UOB shares rose S$0.01 or 0.1 per cent to finish at S$19.40, while OCBC shares were flat at S$8.58.
Chasen Holdings: The mainboard-listed logistics firm's third-party logistics (3PL) segment saw a spike in revenue during the pandemic owing to the crunch in the air cargo market, chairman Eric Ng told BT. The company is also branching out into a new area of business: providing cleaning and maintenance services for critical components of machines used in the thin film transistor LCD industry. Chasen shares ended Friday at 5.5 Singapore cents, down 0.1 cent or 1.8 per cent.
Neo Group: The Catalist-listed food caterer's appetite for mergers and acquisitions is showing no sign of abating. Chief executive Neo Kah Kiat told BT that he is constantly in talks with parties in his search for new partners. The stock gained S$0.02 or 4.1 per cent to finish Friday at S$0.51.