SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their shares on Thursday (May 14):
DBS: DBS's POSB has recorded a jump of almost four times in the number of account openings for migrant workers in April, as the Covid-19 pandemic adds to the urgency for migrant workers to have access to digital banking. POSB's target now is to bank all 750,000 migrant workers in Singapore by the end of this year. DBS shares closed at $19.28 on Wednesday, down $0.07 or 0.4 per cent.
Singapore Airlines (SIA): The national carrier on Wednesday described the Covid-19 pandemic as the greatest challenge ever faced by the aviation industry, and said that the industry is likely to remain highly competitive even after the crisis blows over. SIA shares closed at $4 on Wednesday, down $0.29 or 6.8 per cent before the announcement.
Genting Singapore: The integrated resort operator said its earnings more than halved for the first quarter, as the global coronavirus pandemic took its toll on tourism. For the three months ended March 31, adjusted earnings before interest, tax, depreciation and amortisation fell to $146.9 million, a 55 per cent decrease year on year. Genting shares on Wednesday ended 0.5 cent or 0.7 per cent lower at 76.5 cents before the business update.
Olam International: It recorded a 6.1 per cent rise in profit after tax and minority interests to $179.1 million for the first quarter ended March 31, 2020, from $168.8 million a year ago, according to a business update on Thursday. Olam shares closed at $1.54 on Wednesday, up $0.01 or 0.7 per cent.
Golden Agri-Resources: Golden Agri sank into the red with a net loss of US$95 million for the first quarter ended March 31, 2020, compared with a net profit of US$18 million a year ago. This was mainly due to foreign exchange translation loss, the palm oil plantation owner said in a bourse filing on Thursday morning. The counter closed at 15 cents on Wednesday, down 0.1 cent or 0.7 per cent.
Perennial Real Estate, Singapore Press Holdings (SPH): The shareholders' loan in the AXA Tower stake sale to Alibaba Singapore has $364.7 million outstanding, Perennial disclosed on Wednesday night. A Perennial-led consortium, which includes SPH, will sell its half stake in the office building before redeveloping it with Alibaba. Shares of Perennial rose 0.5 cent or 1 per cent to finish at 50 cents on Wednesday, while SPH shares fell $0.01 or 1.3 per cent to close at $1.49.
ComfortDelGro, Sats, Sembcorp Industries, SPH, Mapletree Logistics Trust (MLT): MLT will be added to the MSCI Singapore Index on May 29 following a review. Meanwhile, four counters will be dropped from the index: ComfortDelGro, Sats, Sembcorp and SPH. MLT units closed at $1.83 on Wednesday, up $0.04 or 2.2 per cent. ComfortDelGro finished at $1.54, down $0.06 or 3.8 per cent; Sats shares ended at $2.76, down $0.19 or 6.4 per cent, while shares in Sembcorp closed at $1.55, down $0.05 or 3.1 per cent.