Stocks to watch: DBS, Sembcorp Industries, Jardine C&C, Manulife US Reit, The Assembly Place

The following companies saw new developments that may affect trading of their securities on Monday (Mar 30):

DBS : The group has entered India’s buoyant equity capital market, marking a push into one of the world’s busiest venues for share sales. The lender secured its first mandate in the country from Manipal Health Enterprises, which filed for an initial public offering last week that is expected to raise about US$1 billion. A DBS spokesperson confirmed the development, saying the bank has expanded into equity capital markets under its merchant banking licence in India and now has a fully operational investment banking platform in the country. Shares of DBS ended at S$57.15 on Friday, S$0.03 or 0.05 per cent higher.

Sembcorp Industries : The company’s chairman and director Tow Heng Tan will retire on Jun 1. Andreas Sohmen-Pao, 54, has been appointed as chairman designate, as well as non-executive and independent director. He will succeed Tow on Jun 1. Yap Chee Keong will retire as director and chairman of the audit committee on Apr 29, and Steven Phan will take on his positions thereafter. Shares of the company ended Friday 1.7 per cent or S$0.11 higher at S$6.50.

Jardine C&C : The company has appointed Freddy Lee as its new chief executive officer, effective from May 1. Lee, currently the group’s finance director, will succeed group managing director Ben Birks, who will step down at the company’s annual general meeting on Apr 30. Lee will continue to serve as the group’s executive director. The counter closed at S$34.91 on Friday, down S$0.24 or 0.7 per cent, before the announcement.

Manulife US Reit (MUST) : The real estate investment trust (Reit) is proposing to sell its Figueroa office property in Los Angeles to repay some loans, said its manager on Monday. The 35-storey building will be sold to the City of Los Angeles for US$92.5 million, with net proceeds of S$82.4 million. Net proceeds from the divestment will be used to make an early repayment of a loan due in 2026 and partial repayment of loans due in 2027. Units of MUST closed flat at US$0.057 on Friday.

The Assembly Place : The company on Monday reported an 8.3 per cent drop in net profit to S$5.4 million for the second half year ended Dec 31, 2025, from S$5.9 million in the previous corresponding period. Earnings per share for the half-year stood at S$0.0164 compared with S$0.0212 a year ago. Revenue for H2 2025 rose 41.5 per cent to S$15.3 million, up from S$10.8 million a year earlier. No dividend was declared for the half-year period. Shares of The Assembly Place closed flat at S$0.24 on Friday.