I'm LongbridgeAI, I can summarize articles.Keppel plans to monetize up to 10 oil rigs via a new private fund, divesting six operational rigs for ~S$1.2 billion, potentially raising S$3.9 billion in funds under management. Meanwhile, Frasers Centrepoint Trust reported 99.6% occupancy in its retail portfolio for Q3, down slightly from previous quarters.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Jul 28):
Keppel : The asset manager on Monday said that it intends to monetise up to 10 oil rigs through a new private fund, starting with the divestment of six operational rigs for around S$1.2 billion. Keppel noted that it expects to receive a cash consideration of about S$611 million from the initial divestment through its indirect subsidiary Rigco. It added that the transaction is expected to raise its funds under management by roughly S$3.9 billion. Shares of Keppel fell 0.9 per cent or S$0.10 to end at S$11.35 on Monday, before the announcement.
Frasers Centrepoint Trust (FCT) : Committed occupancy in the retail portfolio of FCT reached 99.6 per cent in the third quarter ended Jun 30, the manager said on Monday. This was a 0.2 percentage point decrease quarter on quarter, and a 0.3 percentage point decrease year on year. Units of FCT closed 0.4 per cent or S$0.01 lower at S$2.26 on Monday, before the business update.