SG Morning Call | Keppel DC Reit 9M DPU Up 11.7% At S$0.08571 on Organic Growth, Acquisitions
Market Snapshot
Singapore stocks opened Higher on Friday. STI rose 0.05%; 9CI rose 1.7%; ME8U, 5E2 rose 1.1%; M44U, A17U rose 1%; U11 rose 0.1%.
Stocks in Focus
$Seatrium Ltd(5E2.SI)$: The offshore and marine group has secured a contract from power generation company Karpowership to convert and integrate five hydrogen-ready Whale Class Powerships, each capable of generating up to 600 megawatts of electricity. The first vessel is expected to arrive at Seatrium’s Tuas Boulevard Yard in December 2027. Shares of Seatrium closed S$0.05 or 2.7 per cent lower at S$1.78 on Thursday.
$CapitaLandInvest(9CI.SI)$: The real asset manager has appointed banking veteran Hsieh Fu Hua as its independent chairman and non-executive independent director, with effect from Jan 1, 2027. He will succeed Miguel Ko, 73, who will retire as non-executive chairman and non-independent director upon completing his term on Dec 31, the manager announced on Thursday. The manager is also appointing Png Chin Yee, president of Temasek Singapore, as a non-executive, non-independent director from Jan 1. The counter ended 0.9 per cent or S$0.02 lower at S$2.31 on Thursday.
$Keppel DC Reit(AJBU.SI)$: The real estate investment trust (Reit) on Friday posted a distribution per unit (DPU) of S$0.08571 for the nine-month period ended Sep 30, 2026, up 11.7 per cent from S$0.0767 in the corresponding year-ago period. Distributable income rose 16.7 per cent year on year to S$228 million, while revenue grew 13.3 per cent to S$365.3 million. Units of Keppel DC Reit closed 0.5 per cent or S$0.01 higher at S$2.05 on Thursday.
$Suntec Reit(T82U.SI)$: The Reit’s DPU rose 13.4 per cent year on year to S$0.02017 for its third quarter ended Sep 30, from S$0.01778. Revenue was up 5.2 per cent at S$123.6 million. The Reit manager attributed the rise to stronger operating performance across its Singapore office and retail portfolio. Net property income (NPI) grew 6.2 per cent on the year to S$83.4 million from S$78.5 million. The counter closed flat at S$1.36 on Thursday, before the announcement of the results.
$CapLand China T(AU8U.SI)$: The Reit on Friday posted NPI of 259.6 million yuan (US$38.9 million) for its third quarter ended Sep 30, 2026, down 5.1 per cent from 273.5 million yuan in the corresponding year-ago period. Revenue for Q3 fell 4.1 per cent year on year to 399.7 million yuan. For the first nine months of 2026, NPI declined 3.9 per cent to 820.6 million yuan, while revenue dropped 4.8 per cent to 1.22 billion yuan. Units of CLCT closed flat on Thursday at S$0.605.
SG Local News
Keppel DC Reit 9M DPU up 11.7% at S$0.08571 on organic growth, acquisitions
Keppel DC Reit posted a distribution per unit (DPU) of S$0.08571 for the nine months ended Sep 30, 2026, up 11.7 per cent from S$0.0767 a year ago.
Distributable income for the period rose 16.7 per cent year on year to S$228 million from S$195.3 million, the real estate investment trust’s (Reit) manager said in an operational update on Friday (Oct 23).
Revenue grew 13.3 per cent to S$365.3 million from S$322.4 million a year earlier, while net property income rose 13.1 per cent to S$316.8 million from S$280.2 million.
Suntec Reit Q3 DPU rises 13.4% on stronger Singapore portfolio performance
Suntec Reit’s distribution per unit (DPU) rose by 13.4 per cent year-on-year to S$0.02017 for its third quarter ended Sep 30, from S$0.01778 the year before.
Gross revenue was up 5.2 per cent to S$123.6 million for the third quarter, from S$117.5 million in the year-ago period.
This was due to stronger operating performance across its Singapore office and retail portfolio, the manager said on Thursday.
Euro nears 3-month low against Singdollar amid political unrest in Europe, may weaken further
Political unrest in parts of Europe over the rising cost of living and pressure on public services has weighed on the euro, with the currency hovering near a three-month low against the Singapore dollar on Oct 21.
The euro gained 6.76% against the Singdollar in 2025, but has declined 4.8% so far in 2026. The Singdollar was trading at 1.44 to the euro on Oct 22.
Analysts said continued political uncertainty could put further pressure on the euro against the Singdollar, although its direction will also depend on interest rate expectations and broader economic conditions.
Singapore’s CapitaLand Adds Temasek Executive to Board
Temasek Singapore President Png Chin Yee will join CapitaLand Investment’s board as a non-independent director on Jan. 1, while Chairman Miguel Ko will retire and be succeeded by former Temasek President Hsieh Fu Hua, who was appointed deputy chairman in August.
$(STI.SI)$ $(5E2.SI)$ $(9CI.SI)$ $(T82U.SI)$ $(AJBU.SI)$ $(AU8U.SI)$ $SS SPDR STI ETF(ES3.SI)$ $Amova STI ETF S$D(G3B.SI)$ $Amova STI ETF S$A(GAB.SI)$Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
