THE following companies saw new developments that may affect trading of their securities on Friday (Jul 1):
Keppel Infrastructure Trust (A7RU): Keppel Infrastructure Trust (KIT) has entered a non-binding term sheet to purchase from its sponsor a 50-per-cent stake in Marina East Water (MEW), which owns the Keppel Marina East Desalination Plant (KMEDP), for an enterprise value of about S$355 million.
Keppel(BN4): ORIZONA, a wholly-owned unit of Keppel Land, has terminated a joint venture announced in 2020 with Emerald Haven Realty to develop a residential project in Chennai in south-eastern India.
In a Thursday (Jun 30) bourse filing, Keppel Corp said that Orizona, Emerald Haven and other entities involved have entered a deal to terminate the share-purchase agreement in relation to the acquisition of sale shares, and the joint-venture agreement in relation to the subscription and allocation of compulsorily convertible debentures (CCDs).
ARA-H Trust(XZL): ARA US Hospitality Trust (ARA H-Trust) has agreed to sell a 4-property portfolio of Hyatt Place hotels for US$32.5 million to US-based real estate investment firm Three Wall Capital.
Ascott Trust(HMN): BEH Siew Kim, chief executive and executive director of the managers ofAscott Residence Trust (ART), will relinquish her position from Jul 1 (Friday) to assume another senior management role within CapitaLand Investment or its subsidiaries. She will be replaced as chief executive by Serena Teo Joo Ling, who will also be appointed executive director and a member of the executive committee. She was deputy chief executive of the managers of ART in November 2021.
Kimly(1D0): KIMLY Makan Place (KMP), a wholly-owned unit of Catalist-listed Kimly, has entered a joint venture with a fellow food court specialist to operate and manage an HDB coffeeshop lease at Kitchener Complex on 808 French Road.