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Thu, May 14, 2020 – 9:05 a.m.
The following companies saw new developments that may affect their share trading on Thursday:
DBS: The DBS POSB has seen a nearly four-fold jump in the number of account openings for migrant workers in April, as the Covid-19 pandemic adds to the urgency for migrant workers to access digital banking. POSB’s goal now is to deposit all 750,000 migrant workers in Singapore by the end of this year. DBS shares closed at S $ 19.28 on Wednesday, down S $ 0.07 or 0.4 percent.
Singapore Airlines (SIA): The national airline on Wednesday described the Covid-19 pandemic as the biggest challenge the aviation industry has ever faced, and said the industry is likely to remain highly competitive even after the crisis explodes. SIA shares closed at S $ 4 on Wednesday, down S $ 0.29 or 6.8 percent before the announcement.
Genting Singapore: The operator of the integrated complex said its profits were cut in half during the first quarter, as the global coronavirus pandemic wreaked havoc on tourism. For the three months ended March 31, adjusted earnings before interest, taxes, depreciation and amortization fell to S $ 146.9 million, a decrease of 55 percent year-over-year. Genting shares on Wednesday finished 0.5 Singapore cent or 0.7 percent lower at 76.5 cents before the trade update.
Olam International: Post-tax and minority interest earnings rose 6.1 percent to S $ 179.1 million for the first quarter ended March 31, 2020, from S $ 168.8 million a year ago, according to a commercial update on Thursday. Olam shares closed at S $ 1.54 on Wednesday, up to S $ 0.01 or 0.7 percent.
Golden Agri-Resources: Golden Agri sank in the red with a net loss of $ 95 million for the first quarter ending March 31, 2020, compared to a net profit of $ 18 million a year ago. This was mainly due to the loss of currency translation, the owner of the palm oil plantation said in a stock market filing on Thursday morning. The accountant closed at 15 Singapore cents on Wednesday, down 0.1 cents or 0.7 percent.
Perennial Real Estate, Singapore Press Holdings (SPH): The shareholder loan on the sale of the AXA Tower stake to Alibaba Singapore has $ 364.7 million outstanding, Perennial revealed Wednesday night. A Perennial-led consortium, which includes SPH, will sell its half stake in the office building before redeveloping it with Alibaba. Perennial shares rose 0.5 Singapore cents or 1 percent to finish at 50 cents on Wednesday, while SPH shares fell S $ 0.01 or 1.3 percent to close at S $ 1.49.
ComfortDelGro Corp, Sats, Sembcorp Industries, SPH, Mapletree Logistics Trust (MLT): MLT will be added to the MSCI Singapore Index on May 29 after a review. Meanwhile, four counters will be removed from the index: ComfortDelGro, Sats, Sembcorp and SPH. MLT units closed at S $ 1.83 on Wednesday, up to S $ 0.04 or 2.2 percent. ComfortDelGro ended at S $ 1.54, down S $ 0.06 or 3.8 percent; Sats shares ended at S $ 2.76, below S $ 0.19 or 6.4 percent, while Sembcorp shares closed at S $ 1.55, below S $ 0.05 or 3.1 percent.
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