The Business Times

Stocks to watch: Keppel Infra Trust, DBS, Keppel, FLCT, Hotel Grand Central, CSE Global

Megan Cheah
Published Tue, Feb 8, 2022 · 08:35 AM

THE following companies saw new developments that may affect trading of their securities on Tuesday (Feb 8):

Keppel Infrastructure Trust (KIT): A7RU : A7RU 0%As part of a consortium that includes investors BlackRock Real Assets and Hassana Investment Company, the trustee-manager of KIT is investing US$250 million in a special purpose vehicle that will acquire a 49 per cent stake in Aramco Gas Pipelines Company for US$15.5 billion. In its announcement on Tuesday, KIT's trustee-manager said it expects the acquisition to provide long-term, predictable cash flows to the trust. Units of KIT closed flat at S$0.545 on Monday.

DBS: D05 The bank was ordered on Monday by the Monetary Authority of Singapore to set aside S$930 million in additional regulatory capital as a penalty for the widespread disruption of its digital banking services in November 2021. The amount is 1.5 times DBS's risk-weighted assets for operational risk and the bank said it will have a 0.4 percentage-point impact on the group's capital ratios till remedial actions are completed. DBS shares closed at S$36.48, up 1.5 per cent or S$0.53, on Monday before the announcement.

Keppel Corp: BN4 The conglomerate on Monday announced 2 new leadership appointments to drive digital transformation and sustainability, with effect from Mar 1. Manjot Singh Mann, chief executive of telco M1, will be made chief digital officer, while Keppel's current director of group corporate communications Ho Tong Yen will be appointed chief sustainability officer. Both roles are concurrent to their existing responsibilities within the group. Shares of Keppel went down 0.2 per cent or S$0.01 to close S$5.89 on Monday before the news.

Frasers Logistics & Commercial Trust (FLCT): BUOU The real estate investment trust's (Reit) manager on Monday said that Covid-19 has made "no material impact" to FLCT's portfolio to date, although it has dented the Reit's distributable income for the first quarter ended Dec 31, 2021, by S$200,000. In its business update, the manager added that for Q1 FY2022, the Reit has logged 69,274 square metres of leasing and overall portfolio reversion was down 1.6 per cent on an incoming versus outgoing basis. Units of FLCT ended down 0.7 per cent or S$0.01 at S$1.39 on Monday before the update.

Hotel Grand Central: H18 The hotel has agreed to sell an office building in Melbourne, Australia for A$80.8 million (S$77.1 million), it announced on Monday. 300 Flinders Street was purchased in 2013, with a 7-year lease to the then-vendor and current tenant, Victoria University, for A$51.45 million including stamp duty. Prior to the filing, the counter ended S$1.02 on Monday, down S$0.01 or 1 per cent.

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CSE Global: 544 The technologies company on Monday announced it has secured S$131.2 million worth of new orders in the fourth quarter ended Dec 31 2021, up 33.4 per cent from a year ago. This takes its order book to S$229.4 million as at Q4 FY2021. Its shares finished S$0.485, down 2 per cent or S$0.01, when the market closed on Monday before the announcement.

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