Stocks to watch: OCBC, Amara, Valuetronics

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (May 28):

OCBC : The bank announced on May 27 key leadership changes to its global wholesale banking franchise, to take effect on Oct 1. Among the changes, Elaine Heng, now OCBC’s group chief strategy and transformation officer, will succeed Linus Goh, the current head of global commercial banking, who retires on Sep 30. Shares of OCBC closed 0.9 per cent or S$0.14 higher at S$16.31 on Tuesday.

Amara : The independent financial adviser appointed for the takeover bid for the hotel group has deemed the offer at S$0.895 a share to be “fair and reasonable”. It has advised the company’s directors considered to be independent to recommend shareholders to accept the offer. Shares of Amara closed up 1.1 per cent or S$0.01 at S$0.90 on Tuesday.