Stocks to watch: Paragon Reit, GuocoLand, Keppel
THE following companies saw new developments that may affect trading of their securities on Tuesday (Feb 11):
Paragon Real Estate Investment Trust (Paragon Reit): Times Properties, a wholly owned subsidiary of Cuscaden Peak Investments, is looking to take Paragon Reit private by way of a trust scheme arrangement, for S$0.98 per unit. Separately, the Reit manager also announced a distribution per unit of S$0.0233 for the second half ended December, down 10.4 per cent from S$0.026 in the previous corresponding period. Units of Paragon Reit ended Monday 0.6 per cent or S$0.005 lower at S$0.89, before calling for a trading halt on Tuesday morning.
GuocoLand: The property developer posted net profit of S$74.6 million for its first half ended Dec 31, 2024, up 13 per cent from S$66.2 million in the previous corresponding period. Its H1 earnings per share climbed to S$0.0588 from S$0.0513 while its revenue dipped 5 per cent to about S$1 billion from about S$1.1 billion. The improved earnings are attributed to construction progress and higher contributions from investment properties, the group said on Monday. Shares of GuocoLand closed flat at S$1.44 on Monday.
Keppel: Keppel: The asset manager announced that its new commercial building, a 33-storey 650,000 square feet Tanjong Pagar property with smart building management and renewable energy features, has completed construction. A financial service company that The Business Times understands to be Manulife is to be its anchor tenant. Keppel said on Monday that about 50 per cent of the building’s office and retail units are already leased or being considered by potential tenants. It is exploring implementing features to make the building artificial intelligence-ready. Shares of Keppel closed Monday 0.7 per cent or S$0.050 lower at S$6.74.
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