Stocks to watch: OCBC, Singtel, IHH, The Hour Glass 

THE following companies saw new developments that may affect trading of their securities on Friday (May 27):

OCBC: The Monetary Authority of Singapore has imposed an additional capital requirement of about S$330 million on OCBC Bank for its deficiencies in responding to a wave of spoofed SMS phishing scams in December 2021. The additional capital requirement translates to a 0.21 percentage point impact on OCBC’s capital ratios. The bank says that there will not be any impact on their dividend policy. OCBC’s shares closed 0.9 per cent or S$0.10 higher at S$11.66 on Thursday, before the announcement.

Singtel: The mainboard-listed telco on Friday reported S$994.5 million in net profit for the second half ended March 2022, up more than 10 times from S$87.6 million in H2 FY2021. This is despite lower operating revenue, as the group’s exceptional items turned profitable from its loss booked the previous year. Singtel’s board has proposed a final dividend of S$0.048. The counter ended Thursday up S$0.09 or 3.4 per cent at S$2.73.