SG Morning Highlights: Keppel to divest subsidiary for US$98.6m

Good morning moomooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Tuesday; STI up 0.36%
●Keppel to divest subsidiary for US$98.6m
●Stocks to watch: Keppel Reit, Serial System, Ntegrator
-Moomoo News SG

Market Trend
Singapore shares opened higher on Tuesday. The $FTSE Singapore Straits Time Index(.STI.SG)$ increased 0.36 per cent to 3,243.70 as at 9.04 am.
Advancers / Decliners is 81 to 99, with 161.73 million securities worth S$147.23 million changing hands.

Breaking News
Keppel to divest subsidiary for US$98.6m

KEPPEL Corporation said on Monday (Mar 14) that Keppel Land is divesting its 100 per cent stake in Flemmington Investments for a total of around US$98.6 million.

Keppel said the divestment is in line with its Visison 2030 asset monetisation plans to unlock capital, which can be channelled towards new growth opportunities.

Including the latest divestment, Keppel has announced around S$3.1 billion of asset monetisation since the launch of the asset monetisation programme in Sep 2020.

Stocks to Watch
$Keppel Reit(K71U.SG)$ : The real estate investment trust's (Reit) manager on Monday said bondholders who hold an aggregate of S$146.5 million in principal amount of the Reit's convertible bonds have for the redemption of the bonds. The redemption will be funded through existing available loan facilities. Units of Keppel Reit closed on Monday down S$0.01 or 0.8 per cent at S$1.19, before the announcement.

$Serial System(S69.SG)$ : Its partially-owned joint venture company (JV) and the JV's shareholder have filed a defence and counterclaim against the group's 55 per cent-owned subsidiary, Bast Investment. This comes after Bast commenced litigation relating to a RM15.4 million (S$5 million) claim against the 2 parties, among others. Shares of Serial System ended S$0.001 or 0.9 per cent higher at S$0.113 on Monday, before the announcement was made.

$Ntegrator Intl(5HC.SG)$ : The Catalist-listed communications company has won from the same regional telecommunications network service provider. In a bourse filing on Monday, Ntegrator said both contracts have an option for a 1-year extension. The total value of the contracts inclusive of the options would be worth a maximum of around S$43.5 million. The counter closed unchanged on Monday at S$0.005, before the announcement.