SINGAPORE (THE BUSINESS TIMES) – The following companies saw new developments that may affect trading of their securities on Friday (Feb 14):
DBS Group, OCBC Bank: Both banks on Thursday evening announced their respective relief packages for businesses affected by the novel coronavirus outbreak, a day after UOB said it had allocated $3 billion to offer relief assistance to Singapore-based companies. DBS will provide small and medium-sized enterprises with liquidity relief packages to address their “most urgent cashflow needs”, while OCBC will offer targeted support to customers across its core markets affected by the outbreak, including Singapore, Malaysia, China, Hong Kong and Macau. DBS shares closed flat at $25.42 on Thursday. OCBC shares ended trading at $11.05, up three cents or 0.3 per cent.
Keppel Corp: The group’s associate company Floatel International and Prosafe have decided not to go ahead with their proposed merger. The companies were of the view that any near-term completion of a merger was unlikely, Keppel Corp said in a regulatory update. Keppel Corp shares closed at $6.73 on Thursday, down one cent or 0.1 per cent, before the announcement.
Sats: The mainboard-listed aviation services provider warned that its short-term showing could take a hit from the Covid-19 outbreak, even as it posted a fall in third-quarter earnings on the back of higher, expansion-related costs. The counter fell $0.03 or 0.66 per cent to $4.54 on Thursday before the results were released.
SBS Transit: The transport operator on Thursday posted a full-year net profit of $81.3 million, up 1.5 per cent from the same period a year earlier, but warned of rising costs, especially in the operations and maintenance of its rail business. SBS Transit shares rose five cents or 1.36 per cent to $3.74 on Thursday before the results were announced.
Hi-P International: The mainboard-listed contract manufacturer saw its fourth-quarter earnings halved, according to unaudited results released on Thursday after trading hours. Net profit fell to $22.4 million, down from $44.8 million a year ago. Hi-P shares closed down $0.05 or 3.7 per cent to $1.30 on Thursday.
Far East Hospitality Trust (Far East H-Trust): The hospitality stapled group’s distribution per stapled security fell by 5 per cent to 0.95 cent for its fourth quarter ended Dec 31, from one cent a year ago, according to results released on Friday morning. Stapled securities of Far East H-Trust were down 0.5 cent or 0.8 per cent to close at $0.675 on Thursday.
First Sponsor: The mainboard-listed property developer on Thursday launched and priced $100 million in 3.29 per cent notes due 2025. Shares of First Sponsor closed flat at $1.34 before the announcement.
Silverlake Axis: Silverlake Axis saw a drop in its second-quarter earnings despite higher turnover, according to results released on Thursday evening. Separately, the mainboard-listed business software company has won four contracts worth RM60 million (S$20.1 million) with banking customers across the region. Its shares fell half a cent or 1.33 per cent to $0.37 on Thursday before the announcements.
The Hour Glass: The mainboard-listed luxury watch dealer clocked better earnings in the third quarter on an improvement in turnover, even though its share of associates’ results was smaller than before. The Hour Glass shares closed at $0.78 on Thursday, up $0.01 or 1.3 per cent, before the results were released.
UnUsUaL: The Catalist-listed concert promotion and event production spin-off of mm2 Asia saw third-quarter earnings improve on higher revenue from the promotion business, according to unaudited results on Thursday evening. UnUsUaL shares closed at $0.21 on Thursday, up half a cent or 2.44 per cent, before the results were announced.
Overseas Education: Overseas Education, which operates international school Overseas Family School, kept its bottom line up on the amortisation of intangible assets, according to unaudited results on Thursday after trading hours. The mainboard-listed counter added half a cent or 1.43 per cent to $0.355 on Thursday.
Rex International: The company on Friday morning called for a trading halt pending the release of an announcement. Shares of Rex closed flat at $0.171 on Thursday.