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Stocks to watch: DBS, Parkson Retail Asia, Artivision Tech
THE following companies saw new developments that may affect trading of their securities on Tuesday:
DBS: Singapore’s largest bank said its artificial intelligence programme, a chatbot named Jim, introduced last year has sped up and improved the quality of initial screening for hiring wealth planners. About one-third of the candidates who passed Jim's vetting went on to get jobs with DBS, compared with only one-seventh under the previous system which relied solely on human recruiters, according to Susan Cheong, head of talent acquisition at DBS. Shares of DBS closed up 13 Singapore cents or 0.53 per cent to S$24.68 on Monday.
Parkson Retail Asia: The independent auditor has flagged a "material uncertainty" about the watch-listed department store operator's ability to remain as a going concern, highlighting the net loss of S$34.6 million incurred in the fiscal year ended June 30. However, Parkson’s board said it has received an undertaking from its holding company to provide continued financial support for one-year from the date of the board’s approval of the audited financial statements. Shares in Parkson last traded at 2.1 Singapore cents on Friday.
Artivision Technologies: The Catalist-listed video solutions provider has obtained a further six-month extension to complete a reverse takeover deal where it will give up a 70 per cent stake in exchange for Mobile Credit Payment (MC Payment). Artivision applied for the extension, from Aug 31, 2019 to Feb 29, 2020, in part due to MC Payment having difficulties in raising pre-IPO (initial public offering) funds. The counter last traded at 0.4 Singapore cent on Sept 26.