Stocks to watch: SingPost, OCBC, Marco Polo Marine
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THE following companies saw new developments that may affect trading of their securities on Friday (Aug 19):
Singapore Post (SingPost) : Steeper costs and challenges in the core post and parcel business weighed on SingPost in Q1 ended June, with operating profit falling 46.7 per cent to S$10.6 million. The postal services provider’s revenue had risen 34.7 per cent to S$475.2 million, it announced in a Friday business update. But this was offset by a 39.8 per cent rise in Q1 operating expenses to S$466.3 million. SingPost ended Thursday at S$0.63, up S$0.005 or 0.8 per cent.
OCBC : The bank said on Thursday that it’s “Eco-Care” electric vehicle (EV) loan business more than doubled since launching in March 2021. The lender is looking to boost the business further through a tie-up with the National University of Singapore to explore ways to nudge consumers toward EV adoption. OCBC ended Thursday at S$12.39, up S$0.10 or 0.8 per cent.
