Stocks to watch: Frasers Property, Keppel DC Reit, Mapletree Industrial Trust, SingLand, Olam

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Sep 1):

Frasers Property : The property developer, investor and operator on Monday said it acquired Cuppage Terrace – a cluster of 17 conservation shophouses in the Orchard Road area – for an agreed property value of S$175 million. Cuppage Terrace has a total gross floor area of 34,678 square feet, excluding the outdoor refreshment area, and 62 years left on its 99-year lease. Frasers Property shares ended Monday at S$1.02, up 1 per cent or S$0.01, before the news.

Keppel DC Reit : The real estate investment trust’s (Reit) manager, along with Keppel, said on Tuesday that the Reit will acquire two freehold, hyperscale fully fitted data centres in Tokyo for US$1.2 billion. The Reit also plans to raise at least S$600 million through a private placement on Sep 10. It intends to declare an advanced distribution of the distributable income between Jul 10 and Sep 9, estimated to be between S$0.02241 and S$0.02281. Units of Keppel DC Reit closed flat at S$2.20 on Monday before the news, and prior to a trading halt before market open on Tuesday.

Mapletree Industrial Trust : The trust’s manager on Monday said there is “no certainty or assurance” that any transaction will arise as it evaluates opportunities related to selective divestments in North America. The statement came in response to media reports on the potential divestment of its data centre assets in the US. The counter ended Monday at S$1.94, up 1 per cent or S$0.02, before the news.

Singapore Land (SingLand) : Marina Square shopping mall will close on Mar 31, 2027, as property developer SingLand embarks on a large-scale overhaul to transform the 9.2-hectare downtown complex into a multi-use development by 2031. With the redevelopment, the site will expand its overall gross floor area to about 362,493 square metres, SingLand said on Tuesday. Shares of SingLand rose 0.3 per cent or S$0.01 to close at S$3.28 on Monday.

Olam : The company on Tuesday said its wholly owned subsidiary Olam International, within Olam Food Ingredients (OFI), has priced a US$100 million issuance of five-year floating rate notes via a private placement under its existing euro medium term note programme. Proceeds will go towards refinancing OFI’s existing debt and general corporate purposes. The Singapore branch of HSBC acted as the dealer for the issuance. The counter closed Monday 1.9 per cent or S$0.02 higher at S$1.05, prior to the news.