Stocks to watch: OCBC, Yangzijiang Shipbuilding, City Developments, First Reit, Cordlife
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Apr 1):
OCBC : From May 1, the bank will lower the interest rate for its 360 Account to 4.45 per cent per annum on the first S$100,000, from the current rate of 5.45 per cent. The move, which marks the first time in 2026 that the lender has revised interest rates for its flagship savings, is “in line with broader market conditions”, an OCBC spokesperson said on Tuesday. OCBC shares closed 1.6 per cent or S$0.34 higher at S$21.97 on Tuesday, before the news.
Yangzijiang Shipbuilding : The vessel maker clinched shipbuilding contracts for 22 vessels in Q1 of 2026, worth around US$980 million in total. The contracts are not expected to have material impact on the group’s net tangible assets per share or earnings per share for the financial year ending Dec 31, 2026, said the mainboard-listed group on Tuesday. The counter closed Tuesday at S$3.78, down 0.8 per cent or S$0.03, before the announcement.
City Developments Ltd (CDL) : Its chief executive Sherman Kwek will receive S$5.1 million in total compensation for FY2025, a 70.8 per cent increase from the S$2.97 million in the previous year. According to the group’s annual report released on Tuesday, his father, CDL’s executive chairman Kwek Leng Beng, will be paid S$7.4 million in total compensation, a 24.3 per cent increase from FY2024. The counter ended Tuesday at S$8.21, down 1.4 per cent or S$0.12, before the news.
First Real Estate Investment Trust (Reit) : The reit’s manager announced on Wednesday a strategic move to divest its Indonesian portfolio for an aggregate consideration of S$471.5 million. This two-tranche divestment of all assets in Indonesia is designed to prioritise distribution per unit stability while recycling capital from non-core assets and properties with rental arrears, the manager said. Units of First Reit last closed flat at S$0.255 on Tuesday before the trust called for a trading halt with immediate effect on Wednesday morning.
Cordlife : Its independent auditors, PKF-CAP, on Tuesday issued a disclaimer of opinion and emphasis of matter in relation to its FY2025 financials. The disclaimer of opinion was issued as a result of the independent auditors being unable to obtain “sufficient appropriate audit evidence to provide a basis for an audit opinion”, regarding several parts of Cordlife’s financials. The counter ended Tuesday flat at S$0.142, before the news.
