Stocks to watch: DBS, OCBC, UOB, Singtel, SIA, Sabana Reit

THE following companies saw new developments that may affect trading of their shares on Tuesday:

DBS, OCBC, UOB: Singapore's new nationwide financial data sharing initiative can help banks narrow the income inequality gap exacerbated by Covid-19, and simultaneously create a billion-dollar business opportunity for the nation's largest lender, DBS chief Piyush Gupta said on Monday.

Separately, OCBC told BT that one in every three digitally active customers uses its digital financial tools, which have had a 75 per cent growth in usage since Covid-19. DBS shares closed at S$25.26 on Monday, down S$0.40 or 1.6 per cent, OCBC shares fell S$0.12 or 1.2 per cent to S$9.98, while UOB finished at S$22.67, down S$0.38 or 1.7 per cent.

Singapore Telecommunications (Singtel): S&P Global Ratings has revised its outlook for Singtel from stable to negative, to reflect the telco's deteriorating leverage, but affirmed its A long-term and A-1 short-term issuer credit ratings on the company. Singtel shares closed at S$2.41 on Monday, up S$0.07 or 3 per cent.

Singapore Airlines (SIA): The flag carrier has inked a commercial cooperation framework agreement with its Indian joint venture partner, Vistara, that will build on an existing partnership. Both parties will work together in areas such as capacity planning, sales, marketing, joint fare products, customer services and operations. SIA shares closed S$0.04 or 0.9 per cent lower at S$4.38 on Monday, before this announcement.

Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit): Sabana Reit's independent director Ng Shin Ein has resigned to pursue other interests, after the Reit's proposed merger with ESR-Reit fell through last Friday. Sabana Reit units closed at 34.5 Singapore cents, down one cent or 2.8 per cent, before this announcement.

CapitaLand Integrated Commercial Trust (CICT): A subsidiary of CICT has issued S$250 million of 12-year notes with a 2.15 per cent coupon rate. The notes will mature on Dec 7, 2032. CICT units rose S$0.02 or 1 per cent to finish trading on Monday at S$2.00, before the announcement was made.

Suntec Real Estate Investment Trust (Suntec Reit): The trustee of Suntec Reit has entered into a S$900 million facility agreement with various banks. The facility will be used to finance or refinance acquisitions and/or investments, refinance existing borrowings, and/or for general working capital purposes, Suntec Reit's manager said. Units of Suntec Reit closed flat at S$1.48 on Monday, before this filing.

ISOTeam: The building maintenance firm has won contracts totalling about S$21.4 million, which takes the total amount of projects secured in the year to date for the financial year to around S$42.3 million. The counter closed at 13.7 Singapore cents on Monday, up 0.1 cent or 0.7 per cent, before this filing.

ASL Marine Holdings: A confirmed imported case of Covid-19 who had travelled to Indonesia went to work at ASL Shipyard in Singapore between Nov 30 and Dec 2, although it has been determined that he had no close interactions with his colleagues. The counter closed at 3.6 Singapore cents on Monday, up 0.3 cent or 9.1 per cent, before this announcement.

Sevak: The IT solutions company is proposing to transfer the company's listing from the mainboard to the Catalist board of the Singapore Exchange. Sevak shares last traded at S$1.22 on Dec 3.