Companies & Markets

Stocks to watch: SGX, Keppel, ST Engineering, ComfortDelGro

Published Thu, Apr 1, 2021 · 08:47 AM

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

Singapore Exchange (SGX): The bourse has launched a consultation on Special Purpose Acquisition Companies (SPACs), with proposals to address some of the risks posed by the listing structure. SGX Regulation (SGX RegCo) is seeking feedback on a framework that would attempt to reduce some of the risks of excessive dilution for long-term investors, as well as the rush for sponsors to de-SPAC. Shares of SGX closed 0.2 per cent or S$0.02 higher at S$9.97 on Wednesday.

Keppel Corporation: Alpha Investment Partners, the private fund management arm of Keppel Capital, has been awarded a S$360 million separate account mandate from cooperative Dutch pension fund service provider PGGM. The fund includes a top-up option of up to S$320 million, and will focus on core-plus opportunities predominantly in commercial real estate. Keppel Corp's shares closed at S$5.32 on Wednesday, down S$0.02 or 0.4 per cent.

ST Engineering: The company's proposed buyout of New York-listed defence and transport technology firm Cubic Corporation has fallen through, with Cubic instead accepting a proposal from Veritas Capital and Evergreen Coast Capital Corporation. This is despite ST Engineering raising its offer to US$78 per share, up from US$76 previously. The counter closed at S$3.89, S$0.01 or 0.3 per cent lower, on Wednesday.

ComfortDelGro Corporation: The transport operator has partnered French energy company Engie to jointly bid for electric vehicle (EV) charging tenders, as well as to explore and deploy clean energy solutions. For a start, the two parties have jointly submitted a bid for a pilot tender to install and operate more than 600 EV charging points at over 200 public car parks in Singapore. The counter closed 1.2 per cent or S$0.02 lower at S$1.71 on Wednesday, before the announcement.