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Stocks to watch: OCBC, Spackman, Medtecs, Keppel DC Reit
THE following companies saw new developments which may affect trading of their shares on Monday:
OCBC Bank: The bank on Monday reported a net profit of S$1.11 billion for the first quarter of 2018, an increase of 29 per cent from S$861 million a year ago. This was underpinned by strong net interest income growth, higher wealth management income, lower allowances and increased contributions from the group's overseas banking subsidiaries.
Spackman Entertainment Group: Spackman announced on Monday that its board has approved the spin-offs of subsidiaries Novus Mediacorp and Frame Pictures, with a view to eventually listing them on the Catalist board as a combined entity. Spackman owns 51 per cent of film distributor Novus Mediacorp, and fully owns Frame Pictures Co, which leases equipment for movie production.
Medtecs International: Medtecs announced the appointment of William Yang as the company's new chief executive officer, replacing his father Clement Yang who remains as executive chairman. The appointment took effect on May 2, 2018.
Keppel DC Reit: Keppel DC Reit announced it is seeking to raise some S$303.1 million in a private placement to pay for the acquisition of a new data centre. The Reit (real estate investment trust) is looking to place 224 million new shares at S$1.353 apiece, which is a 4.9 per cent discount to the volume-weighted average price of S$1.4220 per share for trades last done on the Singapore Exchange on May 4.