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Stocks to watch: DBS, UOB, OCBC, Singtel, Keppel, SembMarine
THE following companies saw new developments that may affect trading of their shares on Friday:
DBS, UOB, OCBC: Singapore banks this week slashed several rates on their flagship deposit accounts, reflecting the weaker rate environment globally. At Thursday's close, shares in DBS were up S$0.26 or 1.4 per cent to S$18.41; UOB rose S$0.28 or 1.5 per cent to S$19.37; while OCBC Bank gained S$0.14 or 1.7 per cent to finish at S$8.63.
Singtel: Singtel is reportedly looking to sell its telecommunications towers in Australia worth more than A$2 billion (S$1.73 billion). Its wholly-owned Australian subsidiary Optus, which owns the assets, is expected to ink a sale and leaseback deal, according to a media report. Citi analysts said that a move to sell the towers will free up cash for Singtel for dividends or capital expenditure. Shares of Singtel gained S$0.10 or 4 per cent to close at S$2.62 on Thursday.
Keppel Corporation, Keppel Reit (real estate investment trust): Keppel Land and Keppel Reit said on Thursday that they will fully pass on the property tax rebate to their office tenants to support them during the Covid-19 outbreak. Keppel Corp shares, trading cum-dividend, closed up 22 Singapore cents or 4.2 per cent to S$5.51 on Thursday. Units of Keppel Reit closed unchanged at 90 cents before the announcement was made.
Sembcorp Marine (SembMarine): The rig builder on Friday gave notice that it has recorded pre-tax losses for three consecutive years. The mainboard-listed counter ended at 68.5 Singapore cents on Thursday, up two cents or 3 per cent.
Golden Energy and Resources (Gear): The mainboard-listed Indonesian thermal coal producer on Friday said it has gained majority control of Stanmore Coal, a day after announcing a renewed takeover offer for the Australian firm. Shares in Gear closed at 18.4 Singapore cents on Thursday, down 1.3 cents or 6.6 per cent.