Stocks to watch: SIA, ST Engineering, CICT, Sembcorp, First Resources

[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Tuesday (Mar 18).

Singapore Airlines (SIA) : The national carrier and its low-cost arm Scoot posted a 0.5 per cent year-on-year increase in passenger traffic in February, as travel demand tapered following the end of the Chinese New Year festive season, the company’s operating update showed on Monday. Scoot’s 9.3 per cent year-on-year drop in passenger traffic was a drag on group performance. Passenger traffic for SIA rose 3.6 per cent. SIA shares climbed S$0.06 or 0.9 per cent to S$6.75 on Monday.

ST Engineering : The company on Tuesday announced plans to propose an increase in its total dividend to S$0.18 per share for FY2025, up from the prior financial year’s proposed dividend of S$0.17 per share. It also announced a new dividend policy for FY2026 where it plans to pay out about one third of its year-on-year increase in net profit as incremental dividends. Shares of ST Engineering ended Monday 1.8 per cent or S$0.11 higher at S$6.32.

CapitaLand Integrated Commercial Trust : The manager on Monday announced the appointment of current deputy chief executive Tan Choon Siang as chief executive and executive non-independent director from May 1. Tan will also join the executive committee. He succeeds current CEO Tony Tan, who will take on the role of chief corporate officer of CapitaLand Development from May 1. Units of CICT closed 0.5 per cent or S$0.01 lower at S$2.12 on Monday.

Sembcorp Industries : The company responded to a Bloomberg report released on Monday, which said Sembcorp could be considering going private or selling assets as part of its strategic review of its business. Sembcorp said it “continually reviews” its portfolio and “may from time to time engage with external advisers to consider available options”. The company added that it would make necessary announcements when there are material developments and warned shareholders to exercise caution in dealing with its shares. Shares of Sembcorp ended Monday 2.4 per cent or S$0.14 higher at S$6.10.

First Resources : Its subsidiary Ciliandra Perkasa on Tuesday entered a conditional agreement to buy 3.1 billion shares or 91.2 per cent of the issued and paid-up capital of Indonesian-listed company, Austindo Nusantara Jaya, for US$329.8 million. The proposed acquisition allows the group to expand its upstream oil palm plantation footprint and enhance feedstock availability for its growing downstream operations, it said. Shares of First Resources ended Monday 1.2 per cent or S$0.02 higher at S$1.68.