Companies & Markets

Stocks to watch: OCBC, DBS, Singapore Airlines, SPH, UG Healthcare

Published Wed, Aug 19, 2020 · 01:19 AM

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

Singapore Press Holdings (SPH): The media and property group on Tuesday announced it is shedding 140 jobs in a restructuring of its media sales and magazine operations as the Covid-19 pandemic puts pressure on advertising revenue. Separately, SPH subsidiary Sphere Exhibits said this year's Franchising & Licensing Asia, an international trade event for entrepreneurship, business opportunities and intellectual property rights, will take place online. SPH shares were trading flat at S$1.11 as at 9am on Wednesday.

DBS: The flagship portfolio of DBS's private banking arm has achieved a record performance year-to-date, posting a return of 7 per cent between January and end-July, compared with the composite benchmark return of 2.2 per cent. DBS shares were trading at S$20.62 as at 9am on Wednesday, down S$0.12 or 0.6 per cent.

Singapore Airlines (SIA): The carrier on Tuesday said travellers from nine new cities will now be allowed to transit through Singapore. The SIA group also said SIA and SilkAir have increased the frequency of selected services in their passenger network over the next three months, and reinstated flights to Cebu, Istanbul, Milan, Perth, Phnom Penh and Taipei. SIA shares were trading at S$3.69 as at 9am on Wednesday, down S$0.03 or 0.8 per cent.

UG Healthcare Corporation: The Catalist-listed glove manufacturer on Tuesday proposed a placement of up to 7.5 million shares, at S$2.545 per share, to raise a total sum of S$19.1 million. Shares of UG Healthcare were trading at S$2.85 as at 9.01am on Wednesday, down S$0.03 or 1 per cent.

OCBC Bank: The bank on Tuesday launched a new Sora-based home loan, which references the three-month Compounded Singapore overnight rate average (Sora) published by the Monetary Authority of Singapore. OCBC shares were trading at S$8.84 as at 9am on Wednesday, down S$0.01 or 0.1 per cent.