Stocks to watch: Singtel, Keppel, Great Eastern, Seatrium, Best World

THE following companies saw new developments that may affect trading of their securities on Monday (Apr 29):  Singtel : The telco expects to recognise around S$3.1 billion in exceptional non-cash impairment provisions for the second half year ended Mar 31, it said on Monday. However, it does not expect the provisions to affect its dividend payment and underlying net profit for the full-year period, which remain on track. Separately, the group said its wholly owned Australian subsidiary Optus inked an agreement with TPG Telecom to create a regional multi-operator core network. It expects to receive A$1.6 billion (S$1.4 billion) in total service fees over the 11-year term of the agreement, with some A$900 million in incremental cash flows. Singtel’s counter ended 0.4 per cent or S$0.01 lower at S$2.41 on Friday.

Keppel : The global asset manager and operator will offer 70 million euros (S$102.1 million) in floating-rate notes due 2031. Net proceeds from the issue will be used by the asset manager for general corporate and working capital purposes, said Keppel on Friday. The counter closed 0.3 per cent or S$0.02 lower at S$6.84, before the announcement.

Great Eastern : The insurance arm of OCBC posted a 26 per cent year-on-year increase in profit to S$306.7 million for the first quarter ended March, versus S$244 million in the same period the year before. This was driven by higher profit from the insurance business as well as favourable investment performance in the group’s shareholders fund, said the company on Monday. Shares of Great Eastern ended Friday 0.4 per cent or S$0.07 higher at S$18.69.