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Stocks to watch: DBS, OCBC, UOB, Keppel, SGReit, Huationg, AMTD International

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

DBS, OCBC, United Overseas Bank (UOB): The trio of local lenders, which are major employers in Singapore, have pledged no retrenchments amid the novel coronavirus outbreak. Separately, DBS Bank has maintained its rate for fixed deposits at 1.4 per cent per annum for placements of S$20,000 with 12-month maturity, despite many of its peers having cut their rates. At Wednesday's close, DBS dropped S$0.28 or 1.5 per cent to S$18.83, OCBC fell S$0.12 or 1.3 per cent to S$8.81, and UOB declined S$0.25 or 1.2 per cent to S$19.90.

Keppel Corp: The conglomerate's property arm, Keppel Land, may finally be going ahead with the redevelopment of its office asset on Hoe Chiang Road, The Business Times reported on Thursday. Word on the grapevine is Keppel Land may be doing away with the residential component and instead developing a full-commercial project, expected to comprise predominantly office space, with supporting retail space. Shares of Keppel Corp fell S$0.06 or 1.1 per cent to finish at S$5.61 on Wednesday.

Starhill Global Reit (SGReit): The directors and top executives at SGReit's manager will take pay cuts in light of the Covid-19 situation. The savings from these cuts will be passed on to unitholders as part of a 10 per cent reduction in base management fees payable by SGReit for the next three months. SGReit units lost one Singapore cent or 2.4 per cent to close at 41.5 cents on Wednesday before the announcement.

Huationg Global: The Catalist-listed civil engineering firm on Wednesday night said its chairman and two executive directors have taken a voluntary pay cut of 20 per cent to help the group cope with the impact of the Covid-19 pandemic. Huationg shares last traded at 8.4 Singapore cents on March 24.    

AMTD International: With the strike of a digital gong and virtual confetti streaming down screens, AMTD on Wednesday became the first company to debut via an online listing ceremony on the Singapore bourse. The Hong Kong-headquartered financial institution, which is also New York-listed, ended its first day of trading in Singapore at S$16.00, up S$2.05 or 14.7 per cent from its opening price of S$13.95.

Sunningdale Tech, HG Metal Manufacturing: Mainboard-listed precision manufacturer Sunningdale Tech as well as steel distributor HG Metal's subsidiary have separately received approval from the Ministry of Trade and Industry to continue their Singapore operations during the country's "circuit-breaker" period ending May 4. Sunningdale Tech shares were flat at 87.5 Singapore cents at Wednesday's close, while HG Metal shares last traded at 17.8 Singapore cents on April 2.

Dyna-Mac Holdings: Its independent auditor has raised doubts about the mainboard-listed offshore oil and gas contractor's ability to generate sufficient operating cashflows and to continue as a going concern. The counter ended at 8.4 Singapore cents on Wednesday, up 0.1 cent or 1.2 per cent.

Broadway Industrial Group: The watch-listed group is still in talks with two prospects on merger and acquisition transactions, it said in response to a fresh query from the bourse regulator over its trading activity on Wednesday. The precision manufacturer's shares had climbed 32.8 per cent or 2.1 Singapore cents to close at 8.5 cents, with 36.3 million shares changing hands.

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