Singapore stock watch: OCBC, Genting, Hong Leong Asia, ComfortDelGro, MindChamps, Chip Eng Seng

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way.ST PHOTO: KUA CHEE SIONG

SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their shares on Monday (April 6):

OCBC, Great Eastern: OCBC will close 22 of its Singapore branches from April 9 to May 4, in anticipation of reduced footfall following the government's latest rules to curb the spread of Covid-19. Separately, the bank on Friday announced that its annual general meeting (AGM), originally scheduled for April 30, will be postponed. Its insurance arm, Great Eastern, will also postpone its AGM originally slated for April 15. OCBC shares ended at $8.38 on Friday, down $0.25 or 2.9 per cent, while Great Eastern shares finished at $17.52, down $0.38 or 2.1 per cent.

Genting Singapore: Resorts World Sentosa (RWS) has temporarily suspended all of its attractions from April 6 until May 4 in line with the Singapore government's "circuit-breaker" measures, it said in a bourse filing on Monday. Shares of mainboard-listed Genting Singapore, which owns RWS, closed down 1.5 cents or 2.3 per cent to 65 cents on Friday.

OUE Commercial Real Estate Investment Trust (C-Reit): OUE C-Reit on Monday announced that its directors will take a voluntary 10 per cent fee cut in light of the escalating Covid-19 situation. The fee cut will apply to directors' fees accrued for the financial year ended Dec 31, 2019. OUE C-Reit units ended trading $0.02 or 5.9 per cent lower at $0.32 at Friday's close.

Hong Leong Asia: Its chief executive Tan Eng Kwee said the supplier of ready-mixed and precast concrete to Singapore's construction industry could strengthen its lead if Covid-19 accelerates consolidation in the market. Hong Leong Asia shares closed at 41 cents on Friday, down 2.5 cents or 5.8 per cent.

ComfortDelGro: ComfortDelGro, the largest taxi operator in Singapore, is waiving rental for all its drivers for one month - a first for the company. The counter closed at $1.43 on Friday, down $0.04 or 2.7 per cent.

MindChamps PreSchool: The pre-school operator on Monday said it has entered into a joint venture with a global investment firm Foundation Corporation to establish a fund which will acquire preschools in the Gulf Cooperation Council countries and operate them under the MindChamps brand. The counter closed flat at $0.24 on Friday.

Chip Eng Seng: CEL Development, a fully-owned subsidiary of mainboard-listed Chip Eng Seng Corporation, has sold 77 units at the launch of its 378-unit Kopar At Newton condo project over the weekend. Shares in Chip Eng Seng closed at 48 cents on Friday, down 1.5 cents or 3 per cent.

Biolidics: Singapore-based cancer-diagnostics company Biolidics on Monday said its rapid test kit for Covid-19 is allowed for sale in the European Union. Shares in Biolidics closed at 25.5 cents on Friday, down two cents or 7.3 per cent.

The Straits Trading Company: The coronavirus outbreak has confined people to their homes, radically altering the way people perceive space. This poses a fresh consideration for the mainboard-listed group's real estate investment business, as it remains to be seen how the use of space will change once the pandemic blows over. Shares of Straits Trading fell $0.02 or 1.3 per cent to $1.53 as at 9.11am on Monday.

Perennial Real Estate Holdings: Perennial Treasury, a subsidiary of real-estate developer Perennial Real Estate Holdings, on Friday said it has obtained a loan of $250 million. Shares of Perennial Holdings closed up 0.5 cents or 1.6 per cent to finish at 31.5 cents on Friday, before the announcement was made.

LHT Holdings: The manufacturer of wooden boxes and pallets on Friday said it has resumed operations in its manufacturing facilities in Malaysia amid the country's lockdown. Units of LHT Holdings closed unchanged at 49 cents on Friday before the announcement was made.