Stocks to watch: DBS, ST Engineering, Yangzijiang Shipbuilding, Keppel

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

DBS : After the bank’s digital services were disrupted on Wednesday, the Monetary Authority of Singapore said the incident was “unacceptable” and it would take “commensurate supervisory actions” against the bank. DBS shares closed 0.1 per cent or S$0.03 lower at S$33.59 on Wednesday, prior to the response from MAS.

ST Engineering : GlobalData estimated ST Engineering’s new contract for the Singapore Navy will bring in US$1.2 billion in revenue for the company. The data analytics and consulting company on Wednesday projected a value of US$200 million for each of the six vessels. Shares of ST Engineering closed at S$3.65 on Wednesday, up 0.8 per cent or S$0.03, after the report was released. 

Yangzijiang Shipbuilding : The company announced that its subsidiary will acquire 39 Robinson Road, a 21-storey freehold commercial building in Singapore’s Central Business District, for S$399 million. Shares of Yangzijiang Shipbuilding closed at S$1.24 on Wednesday, up 2.5 per cent or S$0.03, before the news. 

Keppel Corporation : The company aims to raise its current S$50 billion in assets under management to S$200 billion by 2030, its chief executive disclosed in the company’s annual report. On Thursday, Keppel announced that a 1.72 trillion rupiah (S$152 million) civil lawsuit against a subsidiary has been ruled “inadmissible” by a district court in Indonesia. Shares of Keppel closed at S$5.56 on Wednesday, up 0.4 per cent or S$0.02.

Global Palm Resources : Its chief executive and family launched an offer to take the company private at S$0.25 per share on Wednesday. Shares of Global Palm Resources closed at S$0.129 on Tuesday, before it requested a trading halt the following day. The counter resumes trading on Thursday. 

SIA Engineering Company : The aircraft maintenance services provider signed a fresh services agreement with Singapore Airlines that is expected to yield the company a labour revenue of S$1.14 billion over a three-year term. The counter closed at S$2.24 on Wednesday, up 0.9 per cent or S$0.02, before the announcement.

Second Chance Properties : The company doubled its net profit for the first half of its financial year ending Feb 28, 2023, to S$9.2 million, mainly due to the sale of investment properties. The counter closed flat at S$0.245 on Wednesday, before the bourse filing was released.

Heeton : The real estate company is inviting holders of its 6.8 per cent fixed-rate notes due 2023 to exchange their existing notes for new notes, which are to be issued at a higher coupon rate of 7 per cent on May 2. The exchange consideration includes a cash top-up of S$20,000 for each S$180,000 in the principal amount of the existing notes, said the group on Thursday. Heeton ended Wednesday flat at S$0.255.

Trading halt: Mercurius Cap Investment called for a trading halt after the market closed on Wednesday, while Mapletree Logistics Trust (MLT) halted trading on Thursday morning, pending the release of announcements. Mercurius closed flat at S$0.023, while MLT closed down 0.6 per cent or S$0.01 at S$1.70 on Wednesday.