Stocks to watch: CapitaLand, Creative Technology, Keppel Corp, Best World, ICP

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way.PHOTO: ST FILE

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Monday (Jan 14):

CapitaLand: Property group CapitaLand is acquiring Temasek's subsidiary Ascendas-Singbridge (ASB) in a $11 billion deal aimed at creating Asia's largest diversified real estate group. ASB manages three Singapore-listed trusts: Ascendas Reit, Ascendas India Trust and Ascendas Hospitality Trust. After the transaction, CapitaLand's combined total assets under management will exceed $116 billion, and cover asset classes such as logistics/business parks, industrial, lodging, commercial, retail and residential. The company's shares last traded on Jan 11 down $0.01 at $3.27.

Creative Technology: The audio technology company said on Monday that it is ready to work with original equipment manufacturers (OEMs) to incorporate its Super X-Fi headphone technology into their products, after getting a good response from some large players at last week's CES tech trade show in the US. Its stock last traded on Friday at $5.19, up $0.99 from its opening price.

Keppel Corporation: Energy solutions provider Keppel Infrastructure Holdings has secured a contract to design, build and operate pipe racks on Jurong Island worth about $40 million. The contract was awarded by JTC Corporation to Pipenet, a wholly owned subsidiary of Keppel Infrastructure, for the construction of pipe racks along parts of Banyan Drive, Banyan Avenue and the Jurong Island Highway that will facilitate pipeline connection to the Jurong Rock Caverns. The counter last traded on Jan 11 at $6.25, up one cent.

Best World: The wellness and skincare company is investing in A*Star spin-off Celligenics through a share subscription that will see it taking up at least a 12.5 per cent stake in the biomedical startup. In the first phase of the share subscription agreement with Celligenics, Best World or a wholly owned subsidiary will invest around $5.63 million to subscribe for 115,165 new ordinary shares representing 12.5 per cent of the total number of issued shares in Celligenics on a fully diluted basis. Best World shares last changed hands at $2.64 a piece on Friday, down two cents.

ICP Ltd: Private equity firm CMIA Capital Partners has taken up $3.9 million worth of new shares in hotel management company ICP Ltd. Catalist-listed ICP announced on Monday that it has issued 460 million new ordinary shares at $0.0085 per share to CMIA. ICP shares last traded on Jan 10, up 0.1 cent at $0.009.