Stocks to watch: First Resources, Keppel Reit
I'm LongbridgeAI, I can summarize articles.First Resources expressed confidence in an upcoming review regarding land clearing practices, maintaining a zero-burning policy. Its shares rose 3.4% to S$3.93. Meanwhile, Keppel REIT announced the acquisition of a 51% stake in Keppel South Central for S$610.9 million to expand its Singapore office footprint. The deal offers a 2.01% accretion in distribution per unit and a 4.3% initial yield. Keppel REIT units closed flat at S$0.825.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Oct 20):
First Resources : The palm oil company is “confident” that an objective review will establish that it does not engage in land clearing by fire, and has welcomed a thorough, evidence-based examination of the facts surrounding the haze situation. On Tuesday, the group said that it maintains a zero-burning policy, which is strictly enforced across its operations. Shares of First Resources closed 3.4 per cent or S$0.13 higher at S$3.93 on Monday.
Keppel Real Estate Investment Trust (Reit) : The manager announced on Tuesday that is buying a 51 per cent stake in Keppel South Central from its sponsor Keppel for a purchase consideration of S$610.9 million, strengthening its footprint in Singapore’s prime office market. The acquisition offers a pro forma distribution per unit accretion of 2.01 per cent and an “attractive” initial property yield of 4.3 per cent. Units of Keppel Reit closed flat at S$0.825 on Monday.