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Stocks to watch: UOB, DBS, OCBC, SIA, Genting Singapore, IReit Global

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

UOB, DBS, OCBC Bank: UOB, which has the largest Asean exposure among the three local lenders, has guided for a higher uptick in credit costs, while OCBC Bank spoke of "relatively muted" revenue growth ahead. In response to queries from The Business Times, the local banks generally pointed to their strong capital buffers that can weather them through the uncertainties. Shares of DBS closed at S$18 on Tuesday, down S$0.58 cents. Shares of OCBC lost S$0.09 to S$8.61, and shares of UOB ended down S$0.06 at S$19.39.

Singapore Airlines (SIA): The group on Tuesday announced a fresh round of flight cuts as the airline industry takes a further beating from new travel restrictions amid the virus fallout. The latest suspensions mean that the carrier will operate at only half the capacity that had been originally scheduled up to end-April. SIA shares closed trading at S$6.62 on Tuesday, down S$0.12 or 1.8 per cent.

Genting Singapore: The resort operator on Tuesday announced that it has cut the salaries of senior management and managerial staff by 9 to 18 per cent as part of cost control measures amid the Covid-19 pandemic. Genting Singapore shares closed at S$0.62 on Tuesday, down S$0.02 or 3.1 per cent.

IReit Global: The real estate investment trust's (Reit) manager sees "limited" impact to its financial performance due to the virus fallout as the majority of its rental income is derived from long-term leases with bluechip tenants, said the manager in a regulatory filing on Tuesday. The counter closed at S$0.53 on Tuesday, down S$0.04 or 7 per cent. 

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Straco Corporation: The mainboard-listed company on Tuesday said the temporary closure of its attraction, Shanghai Ocean Aquarium, will end on March 17, 2020. The aquarium will resume normal operations from March 18, 2020. Straco shares closed at 45 Singapore cents on Tuesday, down 4.5 cents or 9.1 per cent. 

Tee Land: The company on Tuesday disclosed that it has lost its free float, which means the Singapore Exchange may suspend trading of its shares at the close of the offer on March 20. The offeror Amcorp plans to restore the free float, so as to lift the trading suspension and keep Tee Land listed. Tee Land shares closed flat at 17.8 Singapore cents on Tuesday. 

CNMC Goldmine Holdings: The Catalist-listed company has stopped all mining activities in Kelantan to comply with Malaysia's movement control order from March 18 to March 31, it said on Wednesday. CNMC shares closed down S$0.01 or 6.3 per cent to S$0.15.

Aspen (Group) Holding: The Malaysia-based developer has closed its headquarters, offices and sales galleries in Malaysia, and halted construction works for ongoing projects due to the government order, it said on Tuesday. Catalist-listed Aspen closed down 0.1 Singapore cent or 1.4 per cent to 7.2 cents on Tuesday.

Revez Corp: The Catalist-listed firm plans to make use of its information technology capabilities to provide solutions for companies that are looking to shift towards automation. It currently specialises in providing application solutions for businesses and the meetings, incentives, conferences and exhibitions industry. The counter closed at S$0.22 on Tuesday, down S$0.01 or 4.8 per cent. 

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