Stocks to watch: DBS, Nio, Thomson Medical Group, Concord New Energy, Jumbo Group, mm2 Asia
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Jun 2):
DBS : The bank will open 18 new and 36 upgraded wealth centres across the Asia-Pacific by end-2027. The opening of the new centres in markets such as China, India and Indonesia will start from Q3 2026. The lender on Jun 1 described the move as the largest physical expansion of its wealth franchise to date. DBS shares closed Friday 1.5 per cent or S$0.91 up at S$62.84, before the news.
Nio : The electric vehicle maker on Monday announced that it delivered 37,705 vehicles in May, a 62.3 per cent year-on-year increase, bringing its cumulative deliveries to 1.1 million as at end-May. The deliveries comprised 20,013 vehicles from the Nio brand, 12,029 vehicles from the Onvo brand and 5,663 vehicles from the Firefly brand. Nio shares closed Friday 3.6 per cent or US$0.20 lower at US$5.44 before the news.
Thomson Medical Group : The Peter Lim-controlled group announced on Monday that Cassandra Loh, the current chief commercial officer Thomson Medical Singapore, will assume the role of acting chief executive officer of the Singapore business on Jul 1, 2026. Loh will succeed incumbent CEO, Lee Suen Ming, 56, who will step down after a tenure of close to three years. The counter ended Friday flat at S$0.056 before the news.
Concord New Energy (CNE) : It entered a 840 million yuan (S$158.2 million) arrangement with Industrial Bank Financial Leasing to refinance leases on its equipment and facilities for its China energy-storage projects. Under the agreement announced on Friday, the financial leasing arm of China’s Industrial Bank will buy certain equipment and facilities from CNE’s wholly owned subsidiary, Fengning Manchu Autonomous County Juting New Energy Development Co, for that sum. The counter ended Friday 3.1 per cent or S$0.002 down at S$0.063, before the news.
Jumbo Group : The restaurant chain Jumbo Seafood will shutter its flagship East Coast Seafood Centre outlet upon its lease expiry on Sep 30. Jumbo Group said on Friday that the closure is likely to affect its FY2027 revenue, though it is not expected to impact its FY2026 consolidated net tangible assets per share and consolidated earnings per share. The counter closed Friday unchanged at S$0.28, before the news.
mm2 Asia : The former Cathay Cineplexes operator on Friday posted a net loss of S$166.6 million for its second half ended Mar 31, widening from a net loss of S$101.3 million in the year-ago period. It reported negative revenue of S$1.7 million for the period, down from a revenue of S$46.4 million in H2 FY2025, amid S$10.3 million in fair-value losses from film and entertainment investments. Shares of mm2 Asia last closed at S$0.003 before their Nov 11 suspension.
