Stocks to watch: SPH, Keppel, HPL, Keppel Infra Trust, GSS Energy, QT Vascular

Tessa Oh

Published Mon, Nov 22, 2021 · 08:44 AM

THE following companies saw new developments that may affect trading of their securities on Monday (Nov 22):

Keppel Corporation, Singapore Press Holdings (SPH), Hotel Properties Limited (HPL): BN4T39H15 Cuscaden Peak, a group backed by HPL, property magnate Ong Beng Seng and 2 Temasek-linked units CLA and Mapletree, said on Sunday (Nov 21) that it has secured most of the regulatory approvals needed for its takeover bid of SPH, further cementing its advantage in a bidding contest for the media company's property assets. SPH has said Cuscaden's offer is superior and has called for shareholders to vote down Keppel's proposal. Shares of HPL closed flat at S$3.350, Keppel shares fell S$0.01 or 0.2 per cent to close at S$5.340 on Friday (Nov 19), while shares of SPH dropped S$0.01 or 0.4 per cent to trade at S$2.37 before Cuscaden's latest announcement.

Keppel Infrastructure Trust (KIT): A7RU An interest in the debt of its Australian subsidiary Basslink was acquired by APA Group, an Australian energy infrastructure business, the latter announced on Monday (Nov 22). This comes after Basslink went into voluntary administration earlier this month amid ongoing disputes with its customer Hydro Tasmania, and an unsuccessful sale process with APA. Units of KIT ended S$0.005 or 0.9 per cent lower at S$0.545 before the announcement.

GSS Energy: 41F The precision-engineering firm's wholly-owned subsidiary Giken Mobility has entered into a conditional sale and purchase agreement to own 100 per cent of Thai electric motorcycles maker Edison Motors for close to S$7.53 million, the Catalist-listed company said on Friday (Nov 19). The company had called for a trading halt on Thursday (Nov 18). Shares of GSS Energy last traded at S$0.77. The counter resumes trading on Nov 22.

QT Vascular: 5I0 The medtech company announced on Saturday (Nov 20) that its chief executive and executive director Eitan Konstantino will step down from his role on Nov 30, shortly after some shareholders sought to oust him and 3 other members from the medtech company. Shares of QT Vascular had closed down 10 per cent or S$0.001 at S$0.009 before the announcement.

City Developments Ltd (CDL): C09 A penthouse unit atop luxury residential condominium CanningHill Piers, the 99-year leasehold condo by CDL and CapitaLand Development, fetched S$48 million during its launch weekend. The developers sold 538 units at an average selling price of around S$3,000 per square foot over the launch weekend. That translates to 77 per cent of the 696 units it released during the weekend. Shares of CDL last closed at S$7.17 on Friday (Nov 19), down S$0.07 or 1 per cent.