Stocks to watch: Keppel, First Reit

[SINGAPORE] The following companies saw new developments that may affect the trading of their securities on Monday (Jun 29):

Keppel : Keppel said on Saturday that the legal dispute over the ownership of land plots in Jakarta, involving one of its units and an individual seeking a 2.28 trillion rupiah (US$127.6 million) claim, is now heading to Indonesia’s Supreme Court. This was after the claimant filed a cassation against a recent ruling, which deemed the lawsuit inadmissible. Shares of Keppel ended at S$11.06 on Friday, S$0.17 or 1.5 per cent lower.

First Reit : The manager of First Real Estate Investment Trust (First Reit) announced on Monday the launch of a consent solicitation exercise targeting bondholders of its S$100 million 3.25 per cent guaranteed bonds maturing in 2027. The issuer is seeking approval from bondholders to execute amendments, including granting the issuer the option to redeem all (and not some) of the bonds by providing not less than five business days’ notice, and waiving any non-compliance with the trust deed that may occur as a result of their proposed divestments. Units of First Reit ended S$0.005 or 2.2 per cent lower at S$0.22 on Friday.