You are here

Stocks to watch: DBS, Keppel, Starhill Global Reit, UOI, Del Monte

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

DBS: A digital currency exchange backed by Singapore's largest lender is in the works, although the bank is in the process of seeking regulatory approval. If approved, observers say the currency exchange could be one of the world's first crypto exchanges backed by a traditional bank. DBS shares closed down 2 per cent or S$0.42 to S$20.90 on Wednesday, after the announcement.

Keppel Corp: The conglomerate's infrastructure arm has clinched a S$300 million contract to build, own and operate a new district cooling system plant for 30 years in the Jurong Innovation District. Keppel shares closed down 2.5 per cent or S$0.11 to S$4.34 on Wednesday, before the announcement.

Starhill Global Real Estate Investment Trust (Starhill Global Reit): Its revenue for the first quarter ended Sept 30 fell 10.3 per cent to S$43.1 million, while its net property income dropped 19.2 per cent to S$29.8 million. The counter closed down S$0.01 or 2.3 per cent to S$0.42 on Wednesday.

United Overseas Insurance (UOI): The general insurance arm of UOB saw its net profit shrink by 42 per cent year on year to S$15.2 million for the first nine months. Gross premium declined by 6.6 per cent, mainly due to lower business activities caused by the Covid-19 pandemic, the insurer said on Wednesday. UOI shares last traded at S$6.44 on Monday.

Your feedback is important to us

Tell us what you think. Email us at btuserfeedback@sph.com.sg

Del Monte Pacific: The mainboard-listed food and beverage company said its Philippine subsidiary has raised 6.47 billion pesos (S$182.3 million) from the maiden issuance of fixed-rate bonds in a bid to lower borrowing costs while lengthening debt maturity profile. Del Monte Pacific's shares closed flat at S$0.13 on Wednesday, before the announcement.

Second Chance Properties: The mainboard-listed retail and property investment firm saw a 66 per cent drop in net profit year on year to S$914,000 for the six months ended Aug 31. The counter fell 17.3 per cent or 2.9 Singapore cents to close at 13.9 cents on Wednesday, before the announcement.

CapitaLand: The property giant and its industry partners have committed up to S$10 million as a start for the new smart-cities lab which opened on Wednesday in CapitaLand's 5G-enabled Singapore Science Park. CapitaLand shares closed down 1.1 per cent or S$0.03 to S$2.63 on Wednesday, after the announcement.

City Developments Limited (CDL): The company has responded to a recent commentary in The Business Times about Kwek Leng Peck's resignation after disagreements with the board and management. In its letter published on Thursday, CDL noted that its financial performance goes beyond return on equity. CDL shares closed down 3 per cent or S$0.20 to S$6.52 on Wednesday.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes