Stocks to watch: DBS, Riverstone, Lendlease Global Reit, Amara, Ban Leong

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (May 8).

DBS : The bank’s net profit for its first quarter fell due to higher tax expenses from the implementation of the 15 per cent global minimum tax, it said on Thursday. Net profit for the three months ended Mar 31, 2025, stood at S$2.9 billion, 2 per cent lower than the S$2.95 billion from the year-ago period. The earnings beat the S$2.87 billion consensus forecast in a Bloomberg survey of eight analysts. Shares of DBS closed 0.5 per cent or S$0.23 lower at S$42.76 on Wednesday.

Riverstone : The glove manufacturer on Wednesday posted a profit of RM56.4 million (S$17.2 million) for the quarter ended Mar 31, 2025, sliding 21.8 per cent from RM72.2 million in the corresponding year-ago period. This resulted in an earnings per share of RM0.0381, compared with RM0.0487 a year ago. The lower profit is despite revenue rising 1.1 per cent to RM252.3 million, from RM249.5 million, said the company. The group’s top line for the quarter rose due to higher sales volume for healthcare gloves and stable contribution from the cleanroom gloves segment. However, higher raw material costs and the depreciation of the US dollar against the Malaysian ringgit contributed to gross profit margin dropping 6.5 percentage points to 32.6 per cent in this quarter, said Riverstone. Shares of Riverstone closed at S$0.935 on Wednesday, up S$0.005 or 0.5 per cent, before the announcement.