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Stocks to watch: DBS, UOB, OCBC, Singtel, Singapore Airlines, Hatten Land
THE following companies saw new developments that may affect trading of their securities on Thursday:
DBS, UOB, OCBC Bank: Banks and finance houses are allowing individual landlords who are current in their loan repayments to defer both principal and interest payments up to Dec 31 if they are required under the Covid-19 Amendment Bill to provide their tenants rental waivers or payment rescheduling, they said on Wednesday. Banks will also work with landlords to address loan covenant breaches by granting a waiver of the breach and/or revising the loan covenants to take into account the current circumstances.
Shares of DBS were trading at S$22.54 as at 9.05am, up S$0.74 or 3.4 per cent. UOB shares rose S$0.35 or 1.6 per cent to S$21.95, while OCBC shares gained S$0.16 or 1.7 per cent to S$9.52.
Singapore Telecommunications (Singtel): Singtel on Thursday said its wholly-owned subsidiary, Singtel Group Treasury (SGT), has priced US$750 million 10-year notes at 1.875 per cent per annum. The notes, which are guaranteed by Singtel, will mature in 2030. The order book closed after receiving interest of about US$4.1 billion and was 5.5 times subscribed by investors, Singtel said. The counter closed at S$2.57 on Wednesday, up S$0.03 or 1.2 per cent.
Singapore Airlines (SIA): Singapore is in talks to start fast-lane arrangements with countries such as Australia, New Zealand, Malaysia and South Korea as the Republic progressively eases border restrictions after a two-month circuit breaker, Transport Minister Khaw Boon Wan said in a Facebook post on Wednesday. SIA, regional wing SilkAir, and budget carrier Scoot are currently operating flights to China under a similar arrangement. Shares of SIA jumped S$0.20 or 4.9 per cent to close at S$4.31 on Wednesday.
Fraser and Neave (F&N): The ruler of Malaysia's Perlis state has sold a 30 per cent stake in F&N AgriValley back to F&N subsidiary Fraser & Neave Bhd (F&NHB), after a deal for the latter to acquire a plot of land in Malaysia for dairy farming and milk production got scrapped, the mainboard-listed company said on Wednesday. F&N AgriValley is a unit of F&NHB. Shares in F&N were trading at S$1.47 as at 9.47am on Thursday, down S$0.02 or 1.3 per cent.
Kimly: The Catalist-listed coffeeshop consolidator has completed the acquisitions of six food outlets first announced on Feb 21 for S$35.5 million, and will acquire the remaining two coffeeshops for S$20.3 million soon, it said in a filing on Wednesday. Kimly shares closed flat at S$0.215 on Wednesday.
Hatten Land: The Catalist-listed company on Wednesday said that the holders of its US$25 million, 8 per cent guaranteed secured bonds due 2020 have agreed to let it defer repayment on the bonds once again. The bonds, issued in 2018, were meant to mature on March 8, but Hatten Land had previously obtained approval to defer that to June 8, 2020. Hatten Land shares rose 0.2 Singapore cent or 2.9 per cent to S$0.07 on Wednesday.
Trading halt: Both Sembcorp Industries and Sembcorp Marine (Sembmarine) called for a trading halt on Thursday morning before the market opened. Sembmarine on Thursday said that a Brazilian court has accepted charges against two men formerly linked to its wholly-owned Brazilian subsidiary, Estaleiro Jurong Aracruz. Sembmarine shares closed at 85 Singapore cents on Wednesday, up 12.5 cents or 17.2 per cent, while Sembcorp Industries finished trading at S$1.53.