Stocks to watch: SIA, GuocoLand, HC Surgical, DBS, UOB, OCBC, Datapulse

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

Singapore Airlines (SIA): The national carrier on Monday said it has received in-principle approval from the Singapore Exchange for its proposed rights issue amid the Covid-19 crisis. Separately, the airline group said that customers affected by flight cancellations from SIA or its budget arm Scoot due to the Covid-19 outbreak can now opt to get their money back or get travel credits with bonus value. SIA shares closed at S$6.13 on Thursday before both announcements, up S$0.15 or 2.5 per cent.

GuocoLand: A China unit of the mainboard-listed property developer on Friday said it will sell Guoman Hotel in Shanghai and 256 of its underground carpark spaces for 1.44 billion yuan (S$290.7 million) in cash. GuocoLand is expected to record a net gain of S$90.6 million. Shares of GuocoLand closed at S$1.30 on Thursday, down S$0.01 or 0.76 per cent.

HC Surgical Specialists: The Catalist-listed group on Sunday said that one of its doctors, Julian Ong, must inform all patients of the matters alluded to in his defamation suit, prior to any consultation. Dr Ong, whose private practice is a 70 per cent-owned subsidiary of HC Surgical, recently lost the lawsuit against a woman who told other doctors that he and another specialist were taking advantage of "vulnerable" female patients for sexual activities with them. HC Surgical shares rose two Singapore cents or 5.6 per cent to 38 cents at Thursday's close.

DBS, UOB, OCBC Bank: The three local banks told The Business Times that their staff will not suffer pay cuts, despite being redeployed amid numerous bank branches suspending operations to meet stricter safe-distancing requirements. Confirmed staff at OCBC Bank are also eligible for interest-free loans of six times their basic monthly wage or S$30,000, whichever is lower. At Thursday's close, DBS shares moved up by S$0.31 or 1.7 per cent to S$19.14, UOB shares rose S$0.27 or 1.4 per cent to S$20.17, while OCBC gained S$0.14 or 1.6 per cent to S$8.95.

Datapulse Technology: The digital storage products and services provider on Saturday said results for its financial year ending July 31, 2020 would be adversely affected as a result of very low occupancies of its hotel in Seoul, among other factors. Datapulse will continue to implement cost-cutting measures and to focus on the hotel's refurbishment plans. The counter last traded on Thursday at 26 Singapore cents, up 6.5 cents or 33.3 per cent.

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Broadway Industrial Group: The watch-listed company's independent auditor has raised doubts about the group's ability to continue as a going concern. However, RSM Chio Lim's audit opinion remains unqualified, the mainboard-listed precision manufacturing group said on Sunday. Shares of Broadway rose 0.2 Singapore cent or 2.4 per cent to 8.7 cents at Thursday's close.

Biolidics: The Singapore-based cancer diagnostics company on Monday said it has notified and received acknowledgement from the US Food and Drug Administration for the intended distribution of its Covid-19 rapid test kits in the US. Shares of Biolidics fell 0.5 Singapore cent or 1.9 per cent to end trading at 26.5 cents on Thursday.

United Global: The lubricant manufacturer and trader said it has not been able to deliver fuel products to China over the last few weeks, and sales volumes have fallen by about 10 to 15 per cent as a result of the novel coronavirus crisis. United Global chief executive Jacky Tan said orders are "still trickling in" and he believed the company's risks are "fairly well spread out". The counter was flat at 43.5 Singapore cents on Thursday.

Hi-P International: The mainboard-listed electronics contract manufacturer has gotten the go-ahead from Singapore authorities to continue its manufacturing operations at 11 International Business Park during the country's "circuit-breaker" period that lasts till May 4. Its wholly-owned subsidiary, South East Asia Moulding Company, has ceased production and is awaiting approval for an exemption from the suspension of business activities. Hi-P shares gained 0.5 Singapore cent or 0.5 per cent to close at 94.5 cents on Thursday.