Stocks to watch: ComfortDelGro, Sats

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jan 11):

ComfortDelGro : Through its US$100 million venture capital fund, the land transport operator is investing US$4 million in an Israeli company that develops teleoperation software for autonomous vehicles. ComfortDelGro on Wednesday said its latest investment comes as part of its strategy to grow core land transport areas of its business. Its shares ended Tuesday unmoved at S$1.23.

Sats : Another proxy adviser Glass Lewis has recommended Sats shareholders approve the proposed acquisition of air cargo handler Worldwide Flight Services. The deal is said to offer Sats enhanced scale, expanded geographic reach and greater business diversification. It is also expected to put Sats in a better position to boost its growth. Shares of Sats closed 0.35 per cent or S$0.01 lower at S$2.83 on Tuesday, before the report was issued.