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Wed, Dec 23, 2020 – 9:04 AM
THE following companies saw new developments that may affect their stock trading on Wednesday:
Keppel Corporation, Keppel Reit: The conglomerate said late Tuesday that its subsidiary Keppel Renewable Energy signed an agreement to develop a solar farm in Queensland, Australia.
Separately, Keppel Offshore & Marine said on Wednesday that it had fulfilled its obligations under the US Deferred Prosecution Agreement entered into with the US Department of Justice in December 2017. This was in relation to payments corrupted by a former agent in Brazil.
As part of the fines payable under the global resolution, around US $ 52.8 million was paid to the Corrupt Practices Investigation Bureau (CPIB) in Singapore within three years of the date of a conditional warning. Discussions with the specified Brazilian authorities continue, and CPIB agreed to extend this three-year period for another 12 months until December 22, 2021, Keppel Corp said.
On Wednesday morning, Keppel Land separately announced that it is selling its 100% stake in Keppel Bay Tower to Keppel Reit, based on an agreed property value of S $ 657.2 million, including rental support. up to S $ 3.2 million.
Shares of Keppel Corp closed at S $ 5.30 on Tuesday, down 0.9% or S $ 0.05, while Keppel Reit units closed at S $ 1.11, an increase of 0.01. Singapore dollars or 0.9%.
Olam International: The agri-food giant said Wednesday it will report a loss for the second half of 2020, stemming from a one-time, non-monetary and non-recurring deterioration. However, he expects net earnings for the full year to remain positive. Shares of Olam International fell S $ 0.03 or 2 percent to close at S $ 1.50 on Tuesday.
Frasers Centrepoint Trust (FCT): It has proposed to sell the Anchorpoint shopping center for S $ 110 million to unrelated third parties, the manager said in a stock presentation on Wednesday. FCT units closed 1.6 percent or S $ 0.04 lower at S $ 2.46 on Tuesday.
LHN Limited: Controlling shareholder Fragrance Ltd has given the green light to LHN, which is listed on Catalist, to acquire a four-story corner building at 320 Balestier Road for S $ 18.1 million. LHN shares closed unchanged at 18.8 Singapore cents on Tuesday before the announcement.
Aspen (Group) Holdings: The Catalist listed company has received approval in principle from the Singapore Stock Exchange to transfer to the motherboard. This is subject to shareholder approval by special resolution, as well as compliance with listing requirements. Aspen shares closed at 21.5 Singapore cents on Tuesday, down 4.9 percent or a penny, ahead of the presentation.
Commercial stop: The manager of the ARA Logos Logistics Trust (ALog) requested a halt to operations on Wednesday morning, shortly before posting his responses to stakeholder questions. ALog is scheduled to hold its extraordinary general meeting at 10 am on Wednesday.
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