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Stocks to watch: Lifebrandz, City Developments, DBS
THE following stocks had announcements or developments that may influence trading on Monday.
Lifebrandz: Brands development and management firm Lifebrandz had recently undergone a restructuring; Saito Hiroyuki was appointed the executive chairman and CEO. It had also recently concluded a rights-cum-warrants issue; the warrants started trading on June 7. Lifebrandz was in the news last week after its shares shot up S$0.015 or 45.4 per cent to S$0.048 on Wednesday, prompting a query from the Singapore Exchange (SGX).
City Developments: With an expected pickup in real estate following the easing of housing curbs, developers are seen to be the bright spot in Singapore equities as gains in the citystate's stocks may be limited for the rest of the year. Property counters, including City Developments (CDL), are already driving gains in Singapore stocks so far this year, with developers and property trusts making up half of the 10 best-performing stocks on the Straits Times Index.
DBS: Singapore's DBS Bank had been named the country's "Most Valuable Brand" for the fifth consecutive year, according to the latest "Top 100 Singapore Brands" annual report from the London-based Brand Finance. Pegged with a brand value of US$5.4 billion, DBS has a significant lead over the rest of the pack, with close to US$1.8 billion of brand value between the bank and the second-most valuable brand, Brand Finance said.