Singapore stock watch: Singtel, CapitaLand, UOB, SGX, CDL, Chip Eng Seng

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SINGAPORE (THE BUSINESS TIMES) – The following companies saw new developments that may affect trading of their securities on Thursday (May 28):

Singapore Telecommunications (Singtel): The telco's net profit fell 25.7 per cent to $574.4 million for its fourth quarter ended March 31, 2020. This came as Singtel took a net exceptional charge of $302 million, it said on Thursday. The counter closed at $2.62 on Wednesday, down $0.04 or 1.5 per cent.

CapitaLand, United Overseas Bank (UOB): CapitaLand on Thursday said it has obtained a four-year $500 million sustainability-linked loan from UOB. The property giant also announced that The Ascott Limited plans to redesign its serviced residences to tap the work-from-home trend. CapitaLand shares ended flat at $2.90 on Wednesday, while UOB finished $0.01 higher at $19.70.

Singapore Exchange (SGX): Shares of SGX were mauled on Wednesday, losing 11.6 per cent or $1.15 to close at $8.75, on news that the Hong Kong bourse struck a deal for a suite of MSCI equity indices leading to an initial 37 futures and options contracts similar to those offered on SGX.

City Developments Limited (CDL): The property developer's subsidiary Millennium & Copthorne Hotels has reduced its global headcount by 8 per cent and cut up to 30 per cent to the salaries of senior management and executives. Shares of CDL ended Wednesday at $7.68, up $0.03 or 0.4 per cent, before the announcement.

Chip Eng Seng: The mainboard-listed property, construction and education group on Thursday warned that it will record an overall loss for the first half of this year. Separately, Chip Eng Seng announced on Wednesday night Read More – Source