Singapore stock watch: SIA, OCBC, SingPost, StarHub, DBS, NetLink, Biolidics

SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Friday:

Singapore Airlines (SIA): The national carrier is expecting to report a material operating loss for the fourth quarter of fiscal 2019/2020, according to a trading update on Friday. Late on Wednesday, Australia said it had reached agreements with SIA and Qantas Airways to carry foods to Asian markets as part of a government initiative to help businesses hit hard by the coronavirus. SIA shares were trading at $4.51 as at 9.10am on Friday, up $0.11 or 2.5 per cent.

OCBC Bank: OCBC's net profit sank 43 per cent to $698 million for its first quarter, dragged down by non-operating losses in its insurance unit and a surge in provisions due to its oil and gas exposure, and the deteriorating macroeconomic environment from the Covid-19 pandemic. OCBC shares were trading unchanged at $8.80 as at 9.11am on Friday.

Singapore Post (SingPost): SingPost swung into the black with a net profit of $7.2 million for Q4 ended March 31, from a loss of 75.1 million previously, it said on Friday morning. SingPost shares traded unchanged at 74.5 cents as at 9.14am on Friday.

StarHub: Starhub's first-quarter earnings fell in spite of mobile and broadband subscriber gains, according to an interim business update from the mainboard-listed telco on Wednesday. Citing the coronavirus pandemic, StarHub management pulled its financial guidance for the year, including a planned $0.09 annual dividend. StarHub shares traded down $0.04 or 2.7 per cent to $1.45 as at 9.11am on Friday.

DBS: DBS on Thursday launched a cashless purchasing card to allow logistics firms to settle payment and collection at container depots digitally. Late on Wednesday, it also priced its issue of $20 million floating-rate notes using the Singapore Overnight Rate Average as the reference rate for the calculation of interest - said to be an industry first. DBS shares were trading at $19.78 as at 9.04am on Friday, up $0.04 or 0.2 per cent.

NetLink NBN Trust: Fibre optic cable owner NetLink NBN Trust said on Wednesday that the chief executive officer, chief financial officer and chief operating officer of the trust manager will take an 8 per cent reduction in base salary with effect from May 1, which will be reviewed after six months or when the Covid-19 situation has stabilised. NetLink's board members will also take a 5 per cent reduction in their annual board fee. NetLink shares were trading unchanged at $1 as at 9.05am on Friday.

Manulife US Real Estate Investment Trust (Manulife US Reit): The Reit's manager on Wednesday said the Reit saw an increase in occupancy to 96.5 per cent from 95.8 per cent the previous quarter, according to an operational update for the first quarter ended March 31. Manulife US Reit units were trading at 75 US cents as at 9.12am on Friday, up 1.5 cents or 2.1 per cent.

Biolidics: The Catalist-listed firm has appointed Bangkok-based medical equipment and tools distributor Mediproud as a non-exclusive distributor for its Covid-19 test kits in Thailand, it said in a bourse filing on Friday morning. Under the terms of the agreement, Mediproud will assist Biolidics in obtaining all permits, licences, registrations and consents neccessary from Thai authorities to import and sell the test kits in the country. Shares of Biolidics were trading at 45.5 cents as at 9.22am on Friday, up 1.5 cents or 3.4 per cent.