Stocks to watch: ESR-Reit, Genting, Singapore banks, Sarine, Sinostar PEC

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

J91U: Its units fell 9.8 per cent amid heavy trading on Friday, a day after the manager announced plans to raise about S$150 million to fund a Singapore acquisition and asset enhancement initiatives. ESR-Reit was the third most traded counter by volume on the Singapore bourse on Friday, with 93.7 million units changing hands. It ended the day at S$0.39, down S$0.02 or 4.9 per cent.

G13: The operator of Resorts World Sentosa posted a 26 per cent drop in net profit after tax to S$34.5 million for its first quarter ended March 31, 2021. This was due to the Covid-19 impact which continued to weigh on its operational performance, said the company in a business update on Friday. Shares of Genting Singapore added 0.5 Singapore cent or 0.6 per cent to end the day at 85 cents, before the announcement.

D05, O39, U11: The three local banks have beat analyst expectations on stronger fee income and lower credit costs, following a pandemic-struck 2020. On Friday, shares of DBS closed S$0.29 or 1 per cent higher at S$29.86, OCBC rose S$0.16 or 1.3 per cent to S$12.56, while UOB gained S$0.55 or 2.1 per cent to end at S$26.58.

U77: On Sunday, the company posted a revenue of US$17.3 million in the first quarter of 2021. In a business update, Sarine - which makes equipment for diamond producers and sellers - said this was its best quarter since 2014. It added that the recent Covid-19 outbreak in India was "definitely creating uncertainties" which may affect the value chain over the next two to three months. Shares of Sarine Technologies closed Friday unchanged at 57.5 Singapore cents.

T24: The real estate player has changed its group chief financial officer (CFO) as outgoing executive Leong Kok Ho left "to pursue personal interest". Tan Choong Kiak, who was until recently executive director in the chief executive's office, has taken over as CFO effective May 8. Tuan Sing shares closed on Friday at 41.5 Singapore cents, down 0.5 cent or 1.2 per cent, before the latest management reshuffle was announced.

C9Q: The mainboard-listed group on Friday posted a significant jump in net profit to 59.3 million yuan (S$12.2 million) for the first quarter of 2021, up from 801,000 yuan a year ago due to a ramp-up in production volume and the expansion of gross margins. This brought earnings per share up to 9.27 fen compared with 0.13 fen a year ago. Sinostar PEC shares closed flat at 18.5 Singapore cents last Friday, before the results announcement.