Market Snapshot

Singapore stocks opened higher on Tuesday. STI rose 0.1%; GuocoLand rose 0.7%; DBS rose 0.4%.

Stocks to Watch

Paragon Real Estate Investment Trust (Paragon Reit) : Times Properties, a wholly owned subsidiary of Cuscaden Peak Investments, is looking to take Paragon Reit private by way of a trust scheme arrangement, for S$0.98 per unit. Separately, the Reit manager also announced a distribution per unit of S$0.0233 for the second half ended December, down 10.4 per cent from S$0.026 in the previous corresponding period. Units of Paragon Reit ended Monday 0.6 per cent or S$0.005 lower at S$0.89, before calling for a trading halt on Tuesday morning.

GuocoLand : The property developer posted net profit of S$74.6 million for its first half ended Dec 31, 2024, up 13 per cent from S$66.2 million in the previous corresponding period.  Its H1 earnings per share climbed to S$0.0588 from S$0.0513 while its revenue dipped 5 per cent to about S$1 billion from about S$1.1 billion. The improved earnings are attributed to construction progress and higher contributions from investment properties, the group said on Monday. Shares of GuocoLand closed flat at S$1.44 on Monday. 

Keppel : The asset manager announced that its new commercial building, a 33-storey 650,000 square feet Tanjong Pagar property with smart building management and renewable energy features, has completed construction. A financial service company that The Business Times understands to be Manulife is to be its anchor tenant. Keppel said on Monday that about 50 per cent of the building’s office and retail units are already leased or being considered by potential tenants. It is exploring implementing features to make the building artificial intelligence-ready. Shares of Keppel closed Monday 0.7 per cent or S$0.050 lower at S$6.74.

Market News

Landed home sales surge 78.3% YoY in 4Q 2024

The landed homes market saw strong activity in 4Q 2024, despite the typical year-end slowdown, Huttons reported.

In a report, Huttons said transaction volume increased 5.1% quarter-on-quarter (QoQ) to 435 units, marking a 78.3% YoY rise.

Lendlease Global Commercial REIT CEO Chow resigns

Kelvin Chow, CEO of Lendlease Global Commercial REIT has resigned. He will be replaced by Guy Alexander Cawthra with effect from April 1.

According to the REIT on Feb 11, Chow, who helped list the REIT back in 2019 as its first and only CEO thus far, is leaving to "pursue other opportunities".