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Mon, November 9, 2020 – 8:45 am
THE following companies saw new developments that may affect their stock trading on Monday:
Singapore Airlines (SIA): The net loss of the national airline in the quarter to September was double that of the previous three months, dragged by the deterioration of older aircraft and the acquisition goodwill, as well as a reduction cost of S $ 41.7 million. SIA shares closed S $ 0.01 or 0.3% higher at S $ 3.48 on Friday, before the results were released.
StarHub: The motherboard-listed telecom company is on track to have a new CEO early next year, even as it posted another quarter of double-digit profit declines, it said in a business update on Friday after business hours. . StarHub ended up trading S $ 0.01 or 0.8% higher at S $ 1.20.
Venture Corp: The electronics manufacturing services company’s net profit fell 5.9 percent year-on-year to S $ 80.2 million in the third quarter. Venture shares closed S $ 0.12 or 0.6% lower at S $ 19.82 on Friday, before the announcement.
NetLink NBN Trust: Net profit for the fiber optic cable owner increased 1.5 percent for the year to S $ 44.8 million during the six months through September, NetLink said on Friday after the market closed. NetLink units ended at 97.5 Singapore cents, an increase of 1.5 cents or 1.6 percent.
Sembcorp Industries (SCI): Its sale of 718 million rand (S $ 70 million) of South Africa water assets, completed in 2018, could potentially be reversed as a result of legal proceedings. However, based on legal advice, the prospects for this result are remote, SCI said in a stock market presentation on Monday. SCI shares closed at S $ 1.66 on Friday, down S $ 0.02 or 1.2%.
SIIC Environment holdings: The third-quarter revenue of the Chinese motherboard-listed water treatment company fell 4.1 percent to 1.51 billion yuan (S $ 307.6 million) due to a 25.7 percent drop in construction revenue. Shares of SIIC Environment lost 0.3 Singapore cents or 1.6 percent to close at 18 cents on Friday, before the results were released.
Wee Hur Holdings: An Australian subsidiary of the real estate group is set to buy a wholly-owned piece of land in Sydney for A $ 46.1 million (S $ 45.1 million). Shares of Wee Hur fell 0.6 Singapore cents or 3 percent to close at 19.1 cents on Friday before the announcement.
ST Group Food Industries: Even as the food and beverage industry reels from the pandemic, the Catalist-listed firm is on track to open eight new food outlets by the end of the year and is looking for more new sites amid a rental market that is weakening, he told The Business Times. The stock was flat at 11.5 Singapore cents as of Friday’s close.
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