[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Sep 24):

Keppel Reit : The manager of the trust on Wednesday said it is selling T Tower – a freehold Grade A office building in Seoul – to a real estate fund based in South Korea. The 348.8 billion won (US$255.8 million) consideration is a 37.2 per cent premium to what Keppel Reit paid for the property in April 2019, and a 7.4 per cent premium to its valuation as at Aug 31 in local currency terms. Up to S$25 million of net sale proceeds will go to unit buybacks on the open market following the Reit’s Q3 update, subject to prevailing market conditions and applicable laws and regulations. The sale is expected to be completed by the fourth quarter of 2026. The counter ended 1.2 per cent or S$0.01 higher at S$0.86 on Wednesday, before the news.

Olam Group : The group on Thursday said its wholly owned operating group, olam food ingredients (ofi), completed the issuance of US$300 million of perpetual hybrid capital instruments. They were issued by ofi Treasury BV and subscribed for by Melati Designated Activity Company, a third-party special purpose investment vehicle funded through committed bank facilities. Proceeds from the issuance will be used by ofi to refinance existing indebtedness and for general corporate purposes. Shares of Olam ended 1 per cent or S$0.01 lower at S$0.965 on Wednesday.

Multi-Chem : The company on Thursday said its wholly owned subsidiary M.Tech has received a formal written notification from a key vendor saying it has suspended all order acceptances, marketing and business development activities, and commercial communications with the unit with immediate effect until further notice. This is expected to have a material adverse impact on the consolidated net tangible assets per share and earnings per share of the group for the financial year ending Dec 31. Business generated from products supplied by the key vendor accounted for between 5 and 10 per cent of the group’s total consolidated revenue for H1 this year. The counter ended 24.1 per cent or S$0.58 higher at S$2.98 on Wednesday.

Thai Beverage : The beverage producer on Thursday announced organisational changes and a series of senior executive appointments, effective Oct 1. The new structure is intended to foster closer collaboration across ThaiBev’s Product Groups, Role of Center – which oversees and coordinates the Group’s overall operations and strategic direction – and markets. This is to strengthen ThaiBev’s competitiveness and create sustainable growth. ThaiBev’s shares ended 1.2 per cent or S$0.005 higher at S$0.435 on Wednesday.