Stocks to watch: DBS, OCBC, Best World, Penguin, Datapulse

THE following companies saw new developments that may affect trading of their securities on Thursday (Jun 22).

DBS , OCBC : The Monetary Authority of Singapore has imposed composition penalties totalling S$3.8 million on DBS, OCBC, Citibank and insurer Swiss Life (Singapore) for money-laundering rule breaches uncovered in a Wirecard probe. DBS got the heaviest penalty of S$2.6 million, while OCBC got a penalty of S$600,000. DBS shares were up 0.6 per cent or S$0.20 at S$31.35, while OCBC shares closed down 0.4 per cent or S$0.05 at S$12.51 on Wednesday, before the news.

Best World International : The skincare company said in response to Singapore Exchange queries that its S$45.3 million net cash outflow for Q1 was due to its payment of management and staff incentives, sales-related expenses and income tax for FY2022. The company was explaining why it did not record a net cash inflow despite posting S$20.5 million in net profit for Q1. Best World shares closed down 1.1 per cent or S$0.02 to S$1.79 on Wednesday, before the announcement.