Stocks to watch: OCBC, ST Engineering, Haw Par Corp, Riverstone, HRnetGroup

THE following companies saw new developments that may affect trading of their securities on Friday (Feb 24):

OCBC : The bank on Friday reported a net profit of S$1.3 billion for the fourth quarter ended December 2022, rising 34 per cent year on year as net interest income hit a new quarterly high. This brings the bank’s full-year profit to a record S$5.7 billion. It has declared a final dividend of 40 Singapore cents per share, bringing the total dividend to 68 Singapore cents per share. OCBC ended S$0.26 or 2 per cent lower at S$12.64 on Thursday.

ST Engineering : The defence and engineering group’s profit fell 7.1 per cent to S$255 million for the second half ended December 2022, from S$274.4 million in H2 FY2021. The bottom line decline was mainly due to a reduction of Covid-19 government support, energy inflation as well as TransCore transaction and integration expenses, said the group on Friday. ST Engineering ended Thursday at S$0.02 or 0.6 per cent higher at S$3.55.