Stocks to watch: Keppel, CapitaLand Investment, CapitaLand Ascendas Reit, mm2 Asia

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Sep 8): 

Keppel: The asset manager plans to cut energy use intensity by minimally 20 per cent on a portfolio basis, compared to pre-retrofit levels, through its sustainable urban renewal (SUR) strategy. By embedding clear sustainability targets at the fund level, the strategy makes decarbonisation and sustainability integral to the investment thesis, said Keppel’s chief executive for fund management Christina Tan. The counter finished Friday 0.6 per cent or S$0.05 higher at S$8.63.

CapitaLand Investment (CLI):CapitaLand Investment (CLI): CapitaLand China Trust (CLCT) will subscribe for 5 per cent of the 400 million initial public offering (IPO) units in CapitaLand Commercial C-Reit (CLCR), priced at 5.718 yuan per unit. CLCR will have a final offering size of 2.3 billion yuan (S$412 million), 7 per cent higher than previously estimated. This follows CLCT receiving approval from the China Securities Regulatory Commission to register for the listing on the Shanghai Stock Exchange. Shares of CLI were 0.73 per cent or S$0.02 up at close on Friday at S$2.77.

CapitaLand Ascendas Reit (Clar): Sprint Plot 1 TM, in its capacity as trustee-manager of Sprint Plot 1 Trust – a private trust Clar owns 34 per cent equity interest in – on Friday entered an agreement with CapitaLand Group’s indirect wholly owned unit The Work Project Management (TWP). Under the agreement, TWP was appointed to maanage the design and fit out of flexible workspaces for several units at 1A science Park Drive, the manager of Clar said on Friday. Units of Clar ended Friday 0.7 per cent or S$0.02 higher at S$2.77 before the news.

mm2 Asia: MM2 Screen Management, a subsidiary of its associated company mm Connect, received a payment demands of around RM1.26 million (S$384,400) from Antenna Entertainments. The amount is alleged to be due as at Sep 2 in respect of film distribution agreements and Antenna is also making demands for payment of interest on the outstanding amount and legal costs, mm2 Asia said on Friday. The counter ended Friday flat at S$0.003 before the news.