Stocks to watch: DBS, Seatrium, F&N, Venture, Far East Orchard

THE following companies saw new developments that may affect trading of their securities on Monday (May 8): DBS : The bank has been served an additional capital requirement by the Monetary Authority of Singapore following a disruption in its digital banking services on Friday, the third such incident in 18 months. This brings its total additional regulatory capital requirement to S$1.6 billion. Shares of DBS closed on Friday down S$0.23 or 0.7 per cent at S$31.90.   Seatrium : The group on Friday announced it has secured a contract worth more than S$500 million to develop platforms for two offshore wind farms located off the coast of Long Island in the US. The wind farms are a joint venture between Norwegian state-owned energy company Equinor and oil giant BP. Shares of Seatrium closed up S$0.001 or 0.8 per cent at S$0.13, before the news. 

Fraser and Neave (F&N): The beverage maker posted a net profit of S$55 million for the first half of its fiscal year ended Mar 31, which marked a 19.8 per cent decrease from the year before. It cited the cost of inflation and foreign exchange as key factors, noting that revenue was up 3.5 per cent to $1 billion for the same period. Shares of F&N closed on Friday down 1.8 per cent or $0.02 at S$1.10, before the results were released.  

Venture Corporation : The technology company’s net profit for the first quarter of the fiscal year has fallen 12.4 per cent on the year to S$73.6 million, with its revenue declining 7.6 per cent amid softening demand for its products. Its shares closed S$0.03 down or 0.2 per cent at S$17.06 on Friday, after the news.    Far East Orchard : The real estate company announced a 67.9 per cent year-on-year increase in net profit to S$4.7 million for the first quarter of FY2023. Its revenue grew 55.2 per cent to S$46.1 million compared with the previous corresponding period. It cited the recovering hospitality sector as the reason for the improvement. The company’s shares ended Friday flat at S$1.05, before the announcement was made.