SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Friday (May 19):
Singapore Telecommunications (Singtel): Singtel on Tuesday said it will recognise its share of Bharti Airtel's provision for a one-time spectrum charge at $357 million, or $232 million on a post-tax basis. The counter closed at $2.67 on Monday, up $0.01 or 0.4 per cent.
OCBC Bank: The lender expects to rejig its branch network strategy after the Covid-19 pandemic because the rising adoption of digital-banking services has permanently diverted some traffic away from its branches, chief executive Samuel Tsien said at the virtual annual general meeting on Monday evening. OCBC expects the increased adoption of digital services to translate into higher net operating profit in the longer term. OCBC shares rose $0.7 or 0.8 per cent to $8.80 on Monday.
Sembcorp Industries: The company expects the performance of its energy business to be "markedly lower" than last year due to reduced demand for power and falling energy prices, it said on Monday night. Power demand in Singapore, India and Britain declined by about 10-25 per cent in April 2020 from April 2019. Shares of Sembcorp Industries finished Monday at $1.55, up $0.05 or 3.3 per cent.
Starhill Global Reit: The manager of Starhill Global Reit on Monday said that additional rental rebates of $4.4 million will be disbursed in phases to its eligible retail and office tenants in Singapore, bringing the total amount of rental rebates that has been and will be disbursed to tenants to about $18.1 million. Its units closed down 1.1 per cent or 0.5 cent to 45.5 cents on Monday before the announcement.
UOL: The property developer on Monday announced salary reductions of up to 18 per cent for managers and above, effective from April 1, 2020, to help the company manage costs. In addition, it disclosed that about a quarter of its retail tenants are operating during the "circuit-breaker" period. UOL shares rose $0.01, or 0.2 per cent, to $6.67 on Monday before the announcement.
Perennial Real Estate Holdings: The property company, whose share price added 7.5 cents or 14.9 per cent to 58 cents on Monday, said in an evening disclosure that some substantial shareholders are reviewing the options in relation to their holdings.
First Real Estate Investment Trust (First Reit): Its manager on Monday said it is "optimistic" about reaching a resolution regarding the road subsidence that happened along Surabaya's Gubeng Highway, near Siloam Hospitals Surabaya, in December 2018. Units of First Reit traded flat at $0.80 at Monday's close before the announcement.
Correction note: This article has been edited to remove information about ARA Logos Logistics Trust for reasons of accuracy.