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Keppel Corporation's two data centers have received approval for a 10-year lease extension until 2050. Keppel and Keppel DC Reit announced this news and plan to sell the data centers to the trust. The total transaction amount is SGD 1.38 billion, and Keppel can gain approximately SGD 70.9 million from it
Keppel Ltd. has received conditional approval for a 10-year lease extension for its Data Centre Campus in Singapore, allowing a final S$350 million payment from Keppel DC REIT. Keppel's share is approximately S$70.9 million. This extension and recent acquisitions will increase Keppel DC REIT's assets under management by 8.5% to S$6.2 billion. Keppel's stock is currently trading at S$10.29, down 0.58%.
Iron ore futures fell due to cooling demand and stockpiling, with the most-traded May contract on China's Dalian Commodity Exchange down 0.51% and the Singapore Exchange benchmark down 0.1%. Chinese iron ore stockpiles rose 2.26% week-on-week. Steel demand in China has declined amid a struggling property market. Other steelmaking ingredients like coking coal and coke also saw price drops. Japan criticized China's licensing system for steel exports, citing ineffective measures and government subsidies leading to overproduction.
Keppel Corp. (OTCMKTS:KPELY) experienced a significant increase in short interest in December, rising 1,736% to 6,573 shares. Despite this, only 0.0% of shares are sold short, with a short-interest ratio of 0.1 days. UBS Group rated the stock as a 'Buy'. Keppel's stock traded down 1.5% to $15.76, with a 12-month range of $7.93 to $16.00. The company is a Singapore-based conglomerate involved in offshore & marine, property, infrastructure, and asset management.
TT International Limited has announced that the Singapore court has adjourned the hearing of a winding-up application by creditor OCBC to January 2026. This delay allows the company to address its restructuring scheme, which includes new funding arrangements. The outcome of the consolidated hearing will impact the company's future and creditor recoveries. TT International is engaged in ongoing restructuring efforts amid creditor actions led by OCBC.
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