The following companies saw new developments that may affect trading of their securities on Wednesday (May 3):
Keppel (BN4): Singapore's Keppel Corp said on Wednesday it will reorganise its corporate structure and do away with its conglomerate setup in favour of a horizontally integrated model comprising three units, to simplify operations.
Under the new structure, the three units would be fund management, investment, and operating platforms.
Keppel also announced plans to significantly increase its assets under management (AUM) to S$200 billion ($149.93 billion) by 2030, with an interim target of achieving S$100 billion worth of AUM by 2026-end, double of what it had at the end of last year.
CapitaLand Ascendas Reit (A17U): CapitaLand Ascendas Reit (real estate investment trust) saw its average rental rates go up by 11.1 per cent for leases renewed in the first quarter of 2023, higher than the 8 per cent reversion rate in the previous quarter.
The renewal rates were highest for the Reit’s Australian assets, whose average rents increased by 14.3 per cent in the quarter, according to a bourse filing on Tuesday (May 2). Singapore assets saw a positive rental reversion of 11.2 per cent, while those in the United States came in at 11.3 per cent.
Assets in the United Kingdom and Europe saw no change in average gross rent in the quarter.
Unusual (1D1): Events company Unusual Limited has been seeing some unusual activities in the trading of its stock.
Its shares rose 13.6 per cent or S$0.022 to close at S$0.18 on Tuesday (May 2).
In response to queries from the Singapore Exchange on possible factors behind its unusual trading activities, the company replied via a bourse filing on Tuesday that the response to ticket sales for an upcoming concert by Cantopop singer Jacky Cheung has been overwhelming.
“Other than this, the company is also not aware of any other possible explanation for the unusual price and volume movements in the trading activity of the company’s shares,” read the filing.
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