Stocks to watch: SIA Engineering, Mermaid Maritime  

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jul 20):

SIA Engineering (SIAEC): Its joint venture with Boeing Singapore, Boeing Asia Pacific Aviation Services, will cease operations in August. In a bourse filing late Tuesday, the group said the decision was by mutual agreement of the shareholders due to “challenges arising from the changing business environment”. Shares of SIA Engineering closed flat at S$2.43, before the announcement.

Mermaid Maritime : The subsea services provider’s subsidiaries have been awarded multiple projects valued at US$265 million in total, announced the company on Tuesday. These are expected to contribute positively to Mermaid Maritime’s earnings per share and net tangible assets holdings for the fiscal year ending Dec 31 and beyond. The counter closed at S$0.073 before the news, down 2.7 per cent or S$0.002.