You are here

Stocks to watch: OCBC, UOB, Sembcorp, DBS, Wilmar, Hongkong Land, ComfortDelGro, StarHub

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

OCBC Bank: The bank's net profit grew 34 per cent to S$1.24 billion for its fourth quarter, from S$926 million a year ago, boosted mainly by wealth management, higher income from trading, sale of investment securities and properties, and its insurance franchise. OCBC shares ended at S$11.04 on Thursday, down S$0.05 or 0.5 per cent. 

United Overseas Bank (UOB): The lender's net profit rose 10 per cent in Q4, driven by growth in net interest income and trading and investment income, the bank announced on Friday. Separately, UOB will launch its digital bank, TMRW, next in Indonesia this year. UOB shares closed at S$25.87 on Thursday, down S$0.18 or 0.7 per cent. 

Sembcorp Industries: The conglomerate sank into the red with a net loss of S$15 million for its fourth quarter, compared with a net profit of S$106 million a year ago, dragged by lower revenue from its energy and marine segments. Shares of Sembcorp closed at S$2.02 on Thursday, down S$0.02 or 1 per cent.

DBS Group: South-east Asia's largest bank on Thursday night said it will provide shareholders with abridged financial disclosures for its first- and third-quarter performance, following the Singapore Exchange's removal of mandatory quarterly reporting. These trading updates will supplement the half-year and full-year reports, which will continue in their existing form. The counter closed at S$25.10 on Thursday, down S$0.21 or 0.8 per cent. 

Wilmar International: The agri-business group saw its core net profit lifted by 23 per cent to US$410 million for the fourth quarter, thanks to strong performance from the tropical oils manufacturing business and improved oilseeds crush margins, it said on Thursday. Wilmar shares fell S$0.02, or 0.5 per cent, to S$4.04 on Thursday before the results were announced.

Hongkong Land: The mainboard-listed property player has acquired a prime 23.1 hectare mixed-use site on the West Bund of Shanghai for 31 billion yuan (S$6.2 billion), it said on Thursday. The plot was purchased from the Chinese government via auction on Thursday. Hongkong Land shares fell US$0.02 or 0.4 per cent to US$5.48 prior to a trading halt at 4.20pm on Thursday.

ComfortDelGro: The taxi operator is providing beleaguered cabbies with about S$10 million in rental rebates till the end of April 2020, on top of the S$18 million package which was announced last week, it said on Thursday evening. ComfortDelGro shares fell S$0.01 or 0.5 per cent to S$2.05 at Thursday's close.

StarHub: The telco saw its fourth-quarter earnings nearly double on the year, as operating expenses were pared enough to cover the year-on-year slip in the top line. StarHub shares fell S$0.01 or 0.7 per cent to S$1.50 on Thursday before the results were announced.

Sheng Siong: The heartland supermarket operator posted a fourth-quarter net profit of S$17.4 million, down 0.4 per cent from S$17.5 million in the same period a year earlier. Sheng Siong shares closed flat at S$1.32 on Thursday before the results were announced.

OUE: The property group made a net profit of S$255.2 million in 2019, up from the S$10 million it made in 2018, it said on Thursday after trading hours. Full-year revenue rose 44.8 per cent to S$930 million. OUE shares rose one Singapore cent or 0.7 per cent to S$1.44 on Thursday.

Chip Eng Seng: The property, construction and education group has appointed Singapore's former minister for communications and information Yaacob Ibrahim as an independent director. This is the first time that Professor Yaacob, 64, is serving as a director of a listed company on the Singapore Exchange. Chip Eng Seng shares closed flat at S$0.625 on Thursday, before the announcement. 

Roxy-Pacific Holdings: The property and hospitality group on Thursday posted a fourth-quarter net profit of S$20.2 million, up 332 per cent from S$4.7 million in the same period a year earlier. Roxy-Pacific shares last changed hands on Wednesday at S$0.37.

Sunpower Group: The mainboard-listed firm plans to invest in a biomass co-generation project in Tongshan District, Xuzhou City of Jiangsu province. Sunpower shares closed flat at S$0.56 on Thursday before the announcement. 

Vividthree Holdings: The Singapore Exchange Regulation (SGX RegCo) is urging investors to exercise caution when dealing in the shares of the visual effect studio after a review of the trades in Vividthree shares between Sept 9, 2019 and Feb 19, 2020 showed that a small group of accounts was responsible for over 90 per cent of the traded volume. Vividthree shares rose 0.3 Singapore cent or 3.2 per cent to S$0.098 on Thursday.