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

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 at least 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 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 2.29 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.