Stocks to watch: DBS, KIT, Clint, Elite Commercial Reit

THE following companies saw new developments that may affect trading of their securities on Friday (May 3):

DBS : The lender on Thursday experienced a disruption to its mobile banking services.  Outage tracking site Downdetector recorded more than 3,000 reports made from around 5.45 pm about issues relating to DBS’ mobile banking. Earlier on Thursday, DBS posted a 15 per cent year-on-year rise in first-quarter net profit to S$2.95 billion, marking a new high. Net profit would have been S$2.96 billion excluding exceptional items which included integration costs for Citibank Taiwan. It declared an interim dividend of S$0.54 for each ordinary share. Additional shares arising from its proposed 1-for-10 bonus issue will also qualify for this dividend. Its counter closed S$0.65 or 1.9 per cent higher at S$35.55 on Thursday, before the news. 

Keppel Infrastructure Trust (KIT): The trust’s distributable income for the first quarter ended Mar 31 fell 29.1 per cent to S$50.9 million, from S$71.8 million the year before, dragged by lower contributions from the distribution and storage sector and higher corporate expenses. Earnings before interest, taxes, depreciation and amortisation for the first quarter was down 5.7 per cent at S$118.8 million, as compared to S$125.9 million in the corresponding year-ago period, based on a business update on Friday. Units of KIT closed S$0.005 or 1.1 per cent or lower at S$0.47 on Thursday.