Stocks to watch: SIA Engineering, Tuas, Multi-Chem, Katrina

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Sep 23):

SIA Engineering : Singapore Aero Engine Services Private Limited (SAESL), a joint venture between SIA Engineering and Rolls Royce, will offer 30 work-study diploma placements in 2027 to Institute of Technical Education, Republic Polytechnic and Temasek Polytechnic students. Additionally, a SAESL collaboration with A*Star will focus on the development and deployment of advanced technologies including, artificial intelligence-native and autonomous inspection, assembly and disassembly solutions across the aerospace maintenance, repair and overhaul sector. Shares of SIA Engineering rose 1 per cent to close S$0.03 higher at S$3.13 on Tuesday.

Multi-Chem: The stock exchange has asked the company for more details regarding the graft probe into chief executive Foo Suan Sai and chief operating officer Han Juat Hoon. In response, Multi-Chem said on Tuesday night that its nominating committee, with Foo recusing himself, has decided the pair are suitable to continue as directors. The company added that if required, executive director and general manager Foo Fang Yong can assume an increased management role to ensure continuity. News last week of the Corrupt Practices Investigation Bureau’s investigation wiped out S$200 million, or about half of the company’s market capitalisation. Shares of Multi-chem rose 21.8 per cent to close S$0.43 higher at S$2.40 on Tuesday.

Tuas: The Australian-listed parent company of Simba Telecom saw net profit rise to about S$26 million for the full year ended Jul 31, up 277 per cent from about S$6.9 million the year before. Revenue was 24 per cent higher at S$187.6 million, compared with S$151.3 million in the previous financial year. Its board said that it is yet to make a decision on the use of about S$364.5 million raised to support the failed acquisition of M1. Shares of Tuas on the Australian Stock Exchange rose 0.9 per cent to close A$0.02 higher at A$2.33 on Tuesday.

Katrina Group : The Catalist-listed group is set to gain BYD dealer, BYD By 1826 Investments, as a substantial shareholder after the latter acquired 12.6 million shares in the lifestyle company for a consideration of close to S$300,000. The acquisition gives BYD By 1826 Investments a 5 per cent stake in Katrina. Shares of Katrina closed 23.5 per cent or S$0.014 lower at S$0.013 on Tuesday.