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Stocks to watch: Sembcorp, SIA, Singtel, OCBC, Biolidics, Raffles Medical
THE following companies saw new developments that may affect trading of their securities on Monday:
Sembcorp Industries: The conglomerate on Monday said its wholly-owned subsidiary has obtained a court order to restrain Universal Terminal - co-owned by beleaguered oil trader Hin Leong Trading - from moving, removing or disposing of gasoil reserves claimed by Sembcorp Cogen. Shares of Sembcorp Industries closed at S$1.50 on Friday, down S$0.01 or 0.7 per cent.
Singapore Airlines (SIA): The flag carrier has parked four of its jumbo Airbus A380s and three Boeing 777-200ERs at Alice Springs in Australia for storage, The Business Times (BT) has learnt. Separately, SIA on Friday responded to questions from the Securities Investors Association (Singapore) ahead of its April 30 extraordinary general meeting, stating that the worsening environment for aviation amid the pandemic has made it very difficult for airlines to tap debt capital markets.
Singtel: The telco’s units have inked agreements for total credit facilities of S$4.17 billion, for general corporate purposes and refinancing, Singtel said on Friday evening. Singtel shares dropped S$0.05 or 1.8 per cent to S$2.70 on Friday before the news.
OCBC Bank: The lender, which had originally scheduled to hold its annual general meeting on April 30, will now host a virtual one instead at 2pm on May 18 in line with the tighter safe-distancing measures in place. OCBC is due to pay a final dividend of 28 Singapore cents per share on June 5. Shares of OCBC finished flat at S$8.65 on Friday.
Biolidics: The Singapore Exchange has queried Catalist-listed Biolidics over its appointment of a scandal-hit company as an exclusive distributor for its Covid-19 rapid test kits. The board replied on Sunday that it does not expect a material impact on its business plans from its agreement with Nasdaq-listed Aytu Bioscience. Biolidics shares shed S$0.045, or 9.09 per cent, to S$0.45 last Friday.
Raffles Medical Group: Its profit after tax almost halved in the first quarter of this year, with the China healthcare division "severely" affected by the Covid-19 pandemic, the integrated healthcare provider announced on Monday. The counter closed at 87 Singapore cents on Friday, down 0.5 cent or 0.6 per cent.
Nam Cheong: The mainboard-listed offshore support vessel builder on Friday night said it is reviewing its options as it suffers the impact of the global oil and gas downturn and Malaysia's extended movement control order. On Sunday, it also announced it will hold its annual general meeting by June 29. Nam Cheong shares closed flat at 0.5 Singapore cent on Friday.
Mermaid Maritime: The mainboard-listed offshore services provider’s wholly-owned Thai subsidiary has inked a deal to borrow US$8 million from the Export-Import Bank of Thailand. The counter finished flat on Friday at 5.8 Singapore cents.
Sarine Technologies: The mainboard-listed firm, which makes systems and machines for the gem production industry, warned on Sunday of ongoing impairment of its business until retail activity in key markets resumes, amid the coronavirus pandemic. The counter declined by 0.5 Singapore cent or 2.4 per cent to 20 cents on a cum-dividend basis at Friday’s close.
Singapore Press Holdings (SPH): The media and property group noted that digital subscriptions rose 4 per cent in March from the month before, boosted by news tablet subscriptions. While newspaper distribution has been affected by labour availability, SPH is using alternative means to supplement its distribution workforce, and promoting digital subscriptions. SPH shares closed up S$0.04 or 2.84 per cent at S$1.45 on Friday.
LHT Holdings: At a time when businesses are shuttered due to the Covid-19 outbreak, LHT Holdings is finding a mini boom in one of its core businesses. Rental demand for its wooden pallets has spiked, now that retailers of fast-moving consumer goods are seeking to build their own stockpiles, LHT chief executive May Yap told BT. Its shares gained 0.5 Singapore cent or 1 per cent to end trading at 51 cents on Friday, on a cum-dividend basis.
OKP Holdings: The construction group will “exercise prudence” when it comes to share buybacks, the board told shareholders on Saturday. Replying to investor queries ahead of its Monday morning annual general meeting webcast, the board confirmed that projects will be delayed as construction activities came to a halt. On Friday, OKP shares added 0.1 Singapore cent or 0.6 per cent to close at 18 cents on a cum-dividend basis.