Stocks to watch: SIA, Elite UK Reit, Koh Brothers Eco Engineering

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Aug 18):

Singapore Airlines (SIA) : SIA on Monday said that group passenger traffic increased 2.6 per cent year on year in July, after SIA and Scoot carried a combined 3.7 million passengers, 4 per cent more than the year-ago period. Passenger capacity increased 5.5 per cent, driven mainly by network expansion to East Asia, Europe and the south-west Pacific, resulting in a passenger load factor of 86 per cent. Shares of SIA closed at S$7.10 on Monday, up 0.7 per cent, or S$0.05, before the announcement.

Elite UK Reit : A wholly owned subsidiary of the real estate investment trust on Tuesday said it has entered into a £50 million (US$67.8 million), 48-month term and revolving facilities agreement to refinance existing loans and support working capital. Secured as part of the trust’s recent acquisition of five government-leased properties, £22 million of the facilities has already been drawn down. Shares of Elite UK Reit fell 1.6 per cent to close £0.005 lower at £0.31 on Monday.

Koh Brothers Eco Engineering : The Catalist-listed firm disclosed three legal disputes on Tuesday, exposing the company to up to S$57.6 million in total potential liabilities. The disclosure of the joint venture, consortium and subcontractor claims comes hours before shareholders are scheduled to vote on the company’s proposed transfer to the SGX mainboard. Despite the mounting legal exposure, the company assured investors it remains a going concern. Shares of Koh Brothers Eco Engineering fell 2.6 per cent to close S$0.003 lower at S$0.114 on Monday.