Stocks to watch: Keppel, Seatrium, OUE Reit
I'm LongbridgeAI, I can summarize articles.Keppel and Seatrium will collaborate on S$500m offshore rig project. OUE Reit acquires additional 50% stake in Sydney's Salesforce Tower for A$864m, raising ownership to 69.9%. Singapore Exchange-listed plantation firms received notices from the National Environment Agency regarding transboundary haze concerns.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Oct 26):
Keppel , Seatrium : Keppel’s wholly owned subsidiary Rigco and Seatrium will collaborate to complete four offshore rigs under a contract worth over S$500 million. The drillship and jackup rig are expected to be delivered in 2027 and 2028, respectively, while construction plans for the remaining two rigs are still being assessed. Shares of Seatrium closed S$0.03 or 1.7 per cent higher at S$1.81 on Friday, while shares of Keppel closed S$0.05 or 0.5 per cent lower at S$10.
OUE Reit : The real estate investment trust’s (Reit) manager announced on Friday it is acquiring an additional 50 per cent stake in Sydney’s Salesforce Tower for A$864 million (US$606.4 million), raising its ownership to 69.9 per cent. The deal is expected to be 3.2 per cent accretive to distribution per unit on a pro forma basis. Units of the Reit rose 4.5 per cent or S$0.015 to close at S$0.345 before the deal was announced.
Singapore Exchange-listed plantation firms: Several companies received notices from the National Environment Agency on Friday night. The agency issued them amid concerns over transboundary haze from forest and land fires in Indonesia, seeking information on the companies’ land concessions, corporate links and measures taken to prevent and combat fires. The companies include:
- Bumitama Agri
- Golden Agri International
- First Resources
- Indofood Agri Resources
- Kencana Agri
- Two subsidiaries of TSH Resources
- Wilmar International