THE following companies saw new developments that may affect trading of their securities on Tuesday (Oct 29):
Keppel: Its subsidiary M1 is acquiring a 70 per cent stake in Vietnam-based IT solutions provider, ADG National Investment and Technology Development, for a total purchase consideration of 719.9 million dong (S$37.8 million). On Tuesday, Keppel said the acquisition marks the telco’s strategic entry into the Vietnamese market. Shares of the group closed Friday S$0.03 or 0.5 per cent lower at S$6.48.
CDL Hospitality Trusts (CDLHT): The stapled group’s net property income for the third quarter ended Sep 30 fell 6.8 per cent to S$36.3 million, from S$39 million in the previous corresponding period. This comes as revenue for the quarter declined 3.7 per cent on the year to S$67.5 million, as pent-up demand for post-pandemic travel normalised, said the managers on Tuesday. Stapled securities of CDLHT closed flat at S$0.93 on Monday.
