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Tue, December 08, 2020 – 8:52 am
THE following companies saw new developments that may affect their stock trading on Tuesday:
DBS, OCBC, UOB: Singapore’s new nationwide financial data sharing initiative may help banks reduce the income inequality gap exacerbated by Covid-19 while creating a billion dollar business opportunity for the largest lender from the country, DBS chief Piyush Gupta said on Monday.
Separately, OCBC told BT that one in three digitally active customers uses its digital financial tools, which have seen a 75 percent growth in use since Covid-19. Shares of DBS closed at S $ 25.26 on Monday, down S $ 0.40 or 1.6 percent, OCBC shares fell S $ 0.12 or 1.2 percent to 9. S $ 98, while UOB’s closed at S $ 22.67, down S $ 0.38 or 1.7 percent.
Singapore Telecommunications (Singtel): S&P Global Ratings has revised its outlook for Singtel from stable to negative, to reflect the telco’s deteriorating leverage, but affirmed its long-term A-1 and short-term A-1 issuer credit ratings on the company. Singtel’s shares closed at S $ 2.41 on Monday, up S $ 0.07 or 3%.
Singapore Airlines (SIA): The flag carrier has signed a commercial cooperation framework agreement with its Indian joint venture partner, Vistara, which will build on an existing partnership. Both parties will work together in areas such as capacity planning, sales, marketing, joint rate products, customer services and operations. SIA shares closed S $ 0.04 or 0.9 percent lower at S $ 4.38 on Monday, prior to this announcement.
Industrial real estate investment trust that complies with the Sabana Sharia (Sabana Reit): Sabana Reit’s independent director Ng Shin Ein resigned to pursue other interests, after Reit’s proposed merger with ESR-Reit fell through last Friday. Sabana Reit units closed at 34.5 Singapore cents, one cent or 2.8 percent, prior to this announcement.
CapitaLand Integrated Business Trust (CICT): A subsidiary of CICT has issued S $ 250 million in 12-year notes with a coupon rate of 2.15 percent. The notes are due on December 7, 2032. CICT units rose 0.02 Singapore dollars or 1 percent to finish trading at 2 Singapore dollars on Monday, before the announcement was made.
Suntec Real Estate Investment Trust (Suntec Reit): Suntec Reit’s trustee entered into a S $ 900 million financing agreement with various banks. The line will be used to finance or refinance acquisitions and / or investments, refinance existing loans and / or for general working capital purposes, the Suntec Reit manager said. Suntec Reit units closed unchanged at S $ 1.48 on Monday, ahead of this presentation.
ISOTeam: The building maintenance company has won contracts totaling approximately S $ 21.4 million, bringing the total number of projects insured in the year to date for the financial year to about S $ 42.3 million. The counter closed at 13.7 Singapore cents on Monday, an increase of 0.1 cent or 0.7 percent, ahead of this presentation.
ASL Marine Holdings: A confirmed imported case of Covid-19 that had traveled to Indonesia went to work at ASL Shipyard in Singapore between November 30 and December 2, although it has been determined that he had no close interactions with his colleagues. The counter closed at 3.6 Singapore cents on Monday, an increase of 0.3 cent or 9.1 percent, prior to this announcement.
Sevak: The IT solutions company proposes to transfer the company’s listing from the motherboard to the Catalist board of the Singapore Stock Exchange. Sevak’s shares last traded at S $ 1.22 on December 3.
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