Stocks to watch: OCBC, Frasers Property, Straco, ASL Marine, mm2 Asia, Banyan Tree
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Nov 28):
OCBC : Its mobile banking services were fully restored after a two-hour outage on Thursday night. More than 1,400 customers reported issues with the OCBC mobile application such as difficulty logging in, though ATM and card services were unaffected. OCBC said that no customer data was compromised and that customers’ monies were safe during the incident. The counter ended Thursday 0.2 per cent or S$0.04 higher at S$18.27, before the news.
Frasers Property : The company on Friday said that it will redeem S$300 million worth of perpetual securities next year on Jan 17. The securities are part of the company’s S$5 billion multi-currency debt issuance programme. The securities, which have a S$250,000 face value, will be subsequently cancelled and delisted from the Singapore Exchange. Shares of Frasers Property fell 1 per cent or S$0.01 to close at S$1.04 on Thursday.
Straco : The Singapore Flyer operator on Thursday posted a net profit of S$10.7 million for its third quarter ended Sep 30, 8 per cent down from S$11.7 million in the year-ago period. Its revenue fell 13.4 per cent to S$27.2 million from S$31.4 million. The declines came as consumer sentiment was muted compared with previous years, Straco said. Its Xiamen aquarium and cable car operation in Xi’an reported lower revenue and profitability compared with Q3 2024 amid reduced spending from Chinese tourists and heightened competition. The counter ended Thursday 3.8 per cent or S$0.015 lower at S$0.385, before the news.
ASL Marine : The mainboard-listed group posted a net profit of S$8.3 million for its first quarter ended September, compared with a net profit of around S$500,000 in the year-ago period. Its revenue rose 12.1 per cent to S$94.2 million from S$84 million. In tandem with the top-line growth, its earnings before interest, taxes, depreciation and amortisation increased by 13.3 per cent to S$20.4 million from S$18 million. The counter finished Thursday 4.1 per cent or S$0.01 higher at S$0.255.
mm2 Asia : HPE Facilities Services (Malaysia) on Wednesday terminated the business lease agreements it entered into with MM2 Screen Management, a Malaysian subsidiary of mm2 Asia. HPE is also seeking a payment of RM604,741.65 (S$189,796) from MM2 Screen Management within seven days from Wednesday, as this is the sum of the total outstanding lease payments the unit owes HPE under the terminated agreements, said mm2 Asia on Thursday. The counter closed at S$0.003 before it requested voluntary suspension on Nov 11.
Banyan Tree : The hotel operator on Thursday announced the grand opening of its 100th property, the Mandai Rainforest Resort. Average room rates at the resort, located in the Mandai Wildlife Reserve, range from S$508 a night for a retreat room to S$588 a night for a sanctuary room, its website shows. In celebration of the opening, the resort is offering a retreat package for seniors aged 60 and above until Apr 30, 2026, including daily breakfast for two, advance purchase savings and a complimentary room upgrade for guests travelling with grandchildren, subject to availability. Banyan Tree shares ended Thursday 1.6 per cent or S$0.01 higher at S$0.63.
