The Business Times

Stocks to watch: OCBC, CDL, Sembcorp, Genting

Leslie Yee
Published Fri, Mar 26, 2021 · 08:37 AM

THE following companies saw new developments that may affect trading of their securities on Friday:

OCBC: The banking group's outgoing group chief executive officer (CEO) Samuel Tsien will be appointed as adviser to the board upon his retirement as director and CEO, the bank said in a regulatory filing on Thursday evening. In January, OCBC announced that Mr Tsien will retire after 14 years with the bank. Helen Wong will take over as the new group CEO from April 15. Shares of OCBC rose 0.1 per cent or S$0.01 to close at S$11.62 on Thursday.

City Developments Limited (CDL): The property group has set its sights on becoming a master developer in Singapore, even as it focuses on replenishing its land bank to ensure a stable launch pipeline. The group's first launch this year will be Irwell Hill Residences in District 9, which will launch on April 10. Shares of CDL closed at S$7.86 on Thursday, up 0.4 per cent or S$0.03.

Sembcorp Industries: The group's wholly-owned unit Sembcorp Fuels (Singapore), has been appointed by the Energy Market Authority as a new term liquefied natural gas (LNG) importer for Singapore, allowing it to import and sell regasified LNG to customers in the market. Sembcorp's shares rose 2.2 per cent or S$0.04 to close at S$1.83 on Thursday.

Genting Singapore: The gaming and integrated resort development group on Thursday evening clarified that executive chairman Lim Kok Thay's remuneration more than halved last year rather than surged. A significant proportion of Mr Lim's remuneration in the band of S$21.25 million to S$21.5 million in 2020 was attributable to an accounting accrual. Shares of Genting rose 0.5 per cent or half a Singapore cent to close at 92.5 cents on Thursday.

Trading Halt: Tianjin Zhong Xin Pharmaceutical Group on Friday morning requested a trading halt, pending the release of an announcement. The counter closed at US$0.90 on Thursday, down 0.6 per cent or half a US cent.


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