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Stocks to watch: OCBC, Keppel, Wilmar, Hanwell, Tat Seng, Neo Group

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

OCBC: The lender has priced S$200 million in 3 per cent perpetual capital securities, first callable in 2030, it said on Thursday evening. OCBC shed S$0.08 or 0.9 per cent to S$8.37, before the announcement.

Keppel Corp: Telco M1 launched its 5G non-standalone network on Thursday. The latest move makes Keppel-owned M1 the third mobile network operator to offer non-standalone 5G in Singapore, after StarHub in mid-August and Singtel earlier this month. Keppel Corp shares closed down S$0.06 or 1.4 per cent to S$4.10, before the announcement.

Wilmar International: The agri-food giant's shares saw heavy trading on Thursday after it announced that the proposed listing of its 99.99 per cent-owned China subsidiary, Yihai Kerry Arawana, will carry an issue price of 25.7 yuan per share and is expected to raise 13.9 billion yuan (S$2.81 billion). The counter closed down S$0.02 or 0.5 per cent to S$4.36, with 23.5 million shares traded.

Hanwell Holdings, Tat Seng Packaging Group: Hanwell executive chairman Allan Yap has quit the board, with the company adding it had not been aware of his disqualifying bankruptcy until Wednesday. He has also resigned as executive chairman of 64 per cent-owned Tat Seng. Mainboard-listed Hanwell shares last traded at 29 Singapore cents on Thursday, up 0.5 cent or 1.8 per cent, before a trading halt during the midday break. Tat Seng, which also called a halt at 12.30pm, last traded flat at 54.5 Singapore cents.

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Neo Group: The Catalist-listed caterer and food manufacturer can now expand into the property business, with shareholders having unanimously approved the diversification at an extraordinary general meeting on Thursday morning. The counter closed at S$0.49 on a cum-dividend basis, down S$0.02 or 3.9 per cent, before the announcement.

Hong Lai Huat Group: The mainboard-listed property developer has engaged independent valuers to assess its properties held for sale, the board said in a reply to bourse queries on fair-value calculations in its recent half-year results. Hong Lai Huat shares closed down 0.8 Singapore cent or 5.2 per cent to 14.5 cents on Thursday, before the announcement.

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