Stocks to watch: SATS, Yangzijiang Financial, Singtel

THE following companies saw new developments that may affect trading of their securities on Tuesday (May 31):

SATS : The food solutions and gateway services provider on Monday reported earnings of S$7.2 million for the second half of FY21-22 ended March, compared to a net loss of S$2 million in the corresponding period a year ago. It did not recommend a final dividend for FY21-22, as its board believes it “would not be prudent” in view of the full-year loss incurred after excluding government reliefs. Shares of SATS closed 0.7 per cent or S$0.03 higher at S$4.54 on Monday, before the announcement.

Yangzijiang Financial (YZJFH): The Yangzijiang Shipbuilding spin-off is upping its dividend payout policy for the next 3 financial years up to FY2024, it announced on Monday. An extraordinary general meeting will be held on Jun 8 to seek shareholders’ approval for its proposed share buyback mandate, which will allow it to buy back up to 10 per cent of its own issued ordinary share capital. Shares of YZJFH rose 2.1 per cent or S$0.01 to S$0.48, before the news.

Singtel : The telco has been appointed to deploy Micron Technology’s 5G millimetre wave solutions with localised edge core at the semiconductor manufacturer’s 3D Nand flash memory fabrication plant in Singapore. Singtel highlighted this as an industry first in its press statement on Monday. Prior to the announcement, the counter ended S$0.05 or 1.9 per cent lower at S$2.65.