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Stocks to watch: DBS, Singtel, StarHub, Keppel, SIA, CCT, Yangzijiang, Frasers Logistics & Commercial Trust
THE following companies saw new developments that may affect trading of their securities on Thursday:
DBS Group Holdings: The lender reported a 29 per cent fall in first-quarter profit to the lowest in 2.5 years, according to financial results released on Thursday morning. On Wednesday, DBS rolled out its investment analytics to the mass market. It also separately announced that Olivier Lim Tse Ghow took over as the new lead independent director from Ho Tian Yee. DBS shares closed S$0.13 or 0.7 per cent higher at S$19.20 on Wednesday.
Singtel, StarHub: Singtel and a joint venture between StarHub and M1 bagged the two licences to build and run nationwide 5G networks. Singtel shares closed flat at S$2.80 on Wednesday, while StarHub shares closed S$0.02 or 1.4 per cent higher at S$1.45, before the announcement.
Keppel Corp: The group posted a 20.9 per cent drop in Q1 net profit to S$160.5 million from a year earlier, mainly due to the absence of gain from the partial divestment of a Vietnam township project that had boosted profit previously. Keppel shares fell S$0.06 to S$5.97 on Wednesday, before the results were announced.
Singapore Airlines (SIA): The national carrier is standing by its plans to use a chunk of the proceeds raised from its upcoming S$8.8 billion rights issue to purchase aircraft, it said on Wednesday, which offered responses to shareholder concerns raised ahead of its extraordinary general meeting on Thursday. SIA's shares closed on Wednesday at S$6.09, up S$0.08 or 1.3 per cent.
CapitaLand Commercial Trust (CCT): The mainboard-listed trust posted a 25 per cent fall in distribution per unit (DPU) to 1.65 Singapore cents for the first quarter ended March 31, due to its retention of taxable distributable income and its decision to withhold distribution of tax-exempt income "as a matter of prudence" amid the Covid-19 outbreak. CCT units closed at S$1.57 on Wednesday, up S$0.07 or 4.67 per cent before the results were released.
Yangzijiang Shipbuilding: The mainboard-listed group's net profit tumbled 51 per cent to 403.8 million yuan (S$80.8 million) for its first quarter ended March 31, 2020 from 824.1 million yuan a year ago, following a slowdown in production during the quarter. Shares of Yangzijiang closed up 0.5 Singapore cent or 0.5 per cent to 97.5 cents on Wednesday.
Frasers Logistics & Commercial Trust (FLCT): The mainboard-listed trust's DPU rose 4.4 per cent to 1.9 Australian cents for its second quarter ended March 31, from 1.82 Australian cents a year ago. In Singapore-dollar terms, DPU fell by 1.7 per cent to 1.73 Singapore cents, from 1.76 Singapore cents previously, the manager announced on Thursday. FLT units closed at S$1 on Wednesday, up 1.5 Singapore cents or 1.5 per cent.
UMS Holdings: The contract manufacturer has resumed normal operations at its factory in Penang, following the Malaysian government's green light. UMS shares closed at S$0.77 on Wednesday, up S$0.02 or 2.7 per cent.