Singapore Stocks to Watch: Keppel Corp, CapitaLand Ascendas Reit, Lian Beng

Tiger Newspress2023-04-21

The following companies saw new developments that may affect the trading of their securities on Friday (Apr 21):

Keppel Corporation: The global asset manager and operator on Thursday posted a 9 percent rise in its revenue to S$2.3 billion for its first quarter ended Mar 31, from S$2.1 billion in the same period the year before. The group said net profit was significantly higher year on year, due to a disposal gain from the merger between its offshore and marine unit and Sembcorp Marine. Shares of Keppel closed 1.3 percent or S$0.08 higher at S$6.27, before the announcement.

CapitaLand Ascendas Reit(Clar): The real estate investment trust (Reit) is divesting an industrial property for S$35.4 million. On Thursday, its manager said the proposed divestment is in line with its proactive asset management strategy to improve the quality of Clar’s portfolio and optimise returns for unitholders. Units of Clar closed 1.1 percent or S$0.03 higher at S$2.88, before the announcement.

Lian Beng Group: The construction and engineering company clarified on Thursday that the offeror for its proposed privatisation – the company’s controlling Ong family – is not restricted from making another offer within the next 12 months, if its current attempt falls through. Shares of Lian Beng closed 0.8 percent or S$0.005 higher at S$0.675, before the news.

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