Stocks to watch: Singtel, Singapore Airlines, Procurri

THE following companies saw new developments that may affect trading of their securities on Thursday (Jun 16):

Singtel : The telco on Thursday said it will acquire an additional 3.78 per cent stake in Intouch from Temasek’s Anderton Investments for S$330 million, raising its stake in the Thai telecommunications company to 24.99 per cent from 21.21 per cent. Singtel shares closed 0.8 per cent or S$0.02 lower at S$2.50 on Wednesday, after it separately announced in a Jun 15 press release that its Australian subsidiary Optus will directly oversee its Optus Enterprise division from Jul 1 this year.

Singapore Airlines (SIA): The national carrier logged the highest passenger traffic and load factor in May since the pandemic hit in early 2020. Together with its budget arm Scoot, the group flew 17.4 per cent more than that in April, when Singapore dropped most of its border requirements for vaccinated travellers. Shares of SIA closed flat at S$5.13 on Wednesday, before the release of its operating statistics for May.

Procurri : The IT solutions provider on Thursday announced changes to its board of directors, including the resignation of non-independent non-executive director Loke Wai San, who is founder and managing director of private equity fund adviser NovoTellus Capital Partners. This comes as Novo Tellus PE Fund 2 tendered all of its shares in acceptance of the mandatory general offer for Procurri. Shares of Procurri closed flat at S$0.42 on Wednesday.